Plastic Omnium aims for world leadership in hydrogen mobility

During today’s online conference at 2:00 PM CET, Plastic Omnium will present its strategic vision for hydrogen mobility:
– an industrialized and competitive offer across the entire value chain: hydrogen vessels, fuel cell stack and integrated hydrogen system
– a rapidly expanding market from 2025 climbing to at least 2 million vehicles by 2030
– €3 billion in revenue for Plastic Omnium in 2030 following an annual investment of €100 million over the coming years.

Given the faster-than-expected recovery in global automobile production and the effectiveness of Plastic Omnium’s cost-cutting measures, the Group will also comment the upgrading of its second-half 2020 targets and on the outlook for its return, as of 2021, to levels of profitability and free cash-flow comparable to those of 2019.

Laurent Favre, CEO, says: “Despite the uncertainties surrounding short-term prospects for the automotive market, we are firmly confident and are looking toward the future and the transformation of our businesses in favor of clean and connected mobility. As a responsible and innovative industrial company, we are playing our part in the energy transition and already offer advanced technology and production capacity in every segment of the hydrogen value chain. Longer term, we see a very bright future for our hydrogen business and the human and technological resources we are deploying reflect that.”

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