{"id":77511,"date":"2023-05-17T23:12:09","date_gmt":"2023-05-17T23:12:09","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/stellantis-will-acquire-stakes-in-hydrogen-fuel-cell-firm-and-canada-is-eyeing-renewables-cooperation-in-south-korea\/"},"modified":"2023-05-17T23:12:09","modified_gmt":"2023-05-17T23:12:09","slug":"stellantis-will-acquire-stakes-in-hydrogen-fuel-cell-firm-and-canada-is-eyeing-renewables-cooperation-in-south-korea","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/05\/17\/stellantis-will-acquire-stakes-in-hydrogen-fuel-cell-firm-and-canada-is-eyeing-renewables-cooperation-in-south-korea\/","title":{"rendered":"Stellantis will acquire stakes in hydrogen fuel cell firm and Canada is eyeing renewables cooperation in South Korea"},"content":{"rendered":"

Stellantis set to acquire stakes in hydrogen fuel cell company:<\/strong> Multinational automotive manufacturing corporation Stellantis will buy a 33.3% stake in hydrogen fuel cell designer and manufacturer Symbio \u2014 a JV between France\u2019s Michelin and Faurecia \u2014 in 3Q 2023, Reuters<\/a> reports. The value of the stake stands at EUR 150 mn (USD 165 mn) and the transaction comes at a time when Stellantis is looking to boost its \u201cposition in hydrogen-powered vehicles by supporting our fuel cell van production in France,\u201d CEO Carlos Tavares said in a statement. The three groups entered exclusive talks about the potential acquisition in December last year.<\/p>\n

Stellantis has an active presence in the region:<\/strong> Earlier this year, Stellantis expressed interest in partnering with Nissan and Al Mansour Automotive to invest a total of USD 145<\/a> mn to assemble traditional and electric vehicles in Egypt over the next three years. In partnership with Renault, Stellantis operates EV assembly facilities in Morocco which produce 700k cars<\/a> each year and is aiming to reach 1 mn in the next 2 to 3 years. Stellantis and Siemens announced a partnership<\/a> last year to upscale EV last mile delivery infrastructure in MENA. It also began producing EVs<\/a> at its Kenitra plant in Morocco which manufactures Opel\u2019s Rockes-e.<\/p>\n

Larger plans in play: <\/strong>Stellantis is the world\u2019s third-largest carmaker by sales and launched hydrogen-powered mid-size vans late last year with the goal of expanding its hydrogen products to large vans in Europe next year and further afield in the US in 2025, the newswire said.<\/p>\n

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Canada is eyeing renewable partnerships with South Korea: <\/strong>Canada is looking to partner with South Korea on \u201ceverything from critical minerals to high-tech innovation to clean energy solutions,\u201d Canadian Prime Minister Justin Trudeau said in a speech to South Korea\u2019s parliament, according to Reuters<\/a>. Trudeau says green technology partnerships and agreements centered on the trade of EV minerals will be at the key topic during his meeting with South Korea\u2019s President Yoon Suk Yeol today, the newswire noted.<\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n