William Malcolm

Stellantis To Invest 30 Billion Euros To Electrify Vehicle Lineup

By 2025, the carmaker Stellantis will invest 30 billion euros (777 billion crowns) in the electrification of its cars. Five battery factories in Europe and the United States will support it in a strategy to help it face competition from Tesla and other manufacturers. The fourth-largest car producer in the world stated this in today’s online presentation.

The company was established in January by merging the American-Italian manufacturer Fiat Chrysler and the French company PSA. By 2030, it wants over 70 percent of its cars sold in Europe to be low-emission – either battery or hybrid – instead of the current 14 percent. Stellantis manufactures cars from 14 brands, including Peugeot, Fiat, Dodge, and Opel, fully electrified cars will be offered by all. According to company boss Carlos Tavares, the modified cars will have a range of up to 800 kilometers.

One Stellantis battery plant will be built at the engine plant in Termoli, Italy. He had previously announced that factories would be established in Germany and France. He is also going to open one in the USA.

At a similar event last week, the company’s French competitor, Renault, announced that 90 percent of its major models would run fully on electricity by 2030. Toyota’s second-largest carmaker after Toyota wants electric cars to account for 55 percent of European sales by the same year.