Faurecia has launched its first green bond, the proceeds of which will be used to help fund the company’s hydrogen projects, the French automotive equipment supplier confirmed today (17th March).
In a statement, Faurecia said this inaugural green bond is fully in line with the company’s commitment to sustainable mobility, and in particular with the group’s ambition to invest in hydrogen mobility which is gaining momentum around the world.
Today’s announcement comes a month after Faurecia said it was setting its sights on becoming a leader in hydrogen mobility.
Faurecia estimated in February that hydrogen mobility will be a €17bn market of 2.5 million vehicles in 2030 and said the company is therefore targeting €500m of sales in 2025 and more than €3.5bn by 2030.
“As hydrogen mobility rapidly gains momentum, our investment in fuel cell technologies will enable us to become a leader in both hydrogen storage systems and fuel cell stack systems through Symbio, our joint venture with Michelin,” Patrick Koller, CEO of Faurecia, said at the time.
The time has come for hydrogen to realise its potential: An interview with Faurecia
From its headquarters in Nanterre, in the western suburbs of Paris, Faurecia has risen to become a top 10 global automotive supplier in the last two decades. The company is a systems supplier offering complete ranges of solutions for cockpit interiors, seats, software and electronics, and clean mobility. With 250 industrial sites, 41 R&D centres and more than 115,000 employees in 37 countries, Faurecia serves more than 150 clients worldwide, from OEMs to marine and off-road industries. In fact, as many as one in three automobiles is understood to be equipped by Faurecia on some level.
As such, over the last few years, the company has invested significantly in innovation and developed strong ecosystems to accelerate the integration of new competences and reduce the time to market. It will soon develop even greater autonomy itself too; whilst French car manufacturer Groupe PSA (Peugeot) has long been the main shareholder in Faurecia, H2 View understands the PSA Group will soon launch the spin-off of Faurecia – enabling a more autonomous approach to its strategic growth.
Faurecia is technology neutral, with CEO Patrick Koller noting like so many others that battery-electric and hydrogen fuel cell power are complementary and should be viewed as such, rather than pitted against one another. The company is a keen advocate of hydrogen mobility, however, and was also among the earlier members of the Hydrogen Council, an ecosystem of energy, transport and industrial stakeholders that it describes as ‘essential’.
Read the full exclusive interview with Faurecia here.