The Stellantis emblem is shown at the main entrance of the FCA Mirafiori plant in Turin, Italy, on January 18, 2021. Stellantis, the world’s fourth-largest manufacturer, will begin trading in Milan and Paris after Fiat Chrysler and Peugeot maker PSA completed their merger. Reuters/Massimo Pinca Through 2025, Stellantis, a joint venture between Fiat Chrysler and PSA Groupe, expects to invest at least $35.5 billion ($30 billion euro) in electric vehicles and related technology. During an electrification strategy event on Thursday, the world’s fourth-largest manufacturer outlined the ambitions. Stellantis joins the ranks of automakers such as Volkswagen, General Motors, and Ford Motor in announcing multibillion-dollar investments in electric vehicles. Most significantly, Stellantis announced it would offer an electric Dodge muscle car by 2024 and an all-electric Jeep SUV in every vehicle segment by 2025 in the United States. The business also expects to release a Ram full-size electric pickup by 2024, putting it at least two years behind Ford and GM in the United States. During early Thursday morning trading on the New York Stock Exchange, Stellantis shares were down roughly 3.5 percent to under $19 a share. The corporation has a market capitalization of around $30 billion. Stellantis CEO Carlos Tavares stated that the company’s plans for vehicle electrification are in “full implementation gear.” Stellantis anticipates low-emission vehicles to account for more than 70% of sales in Europe and more than 40% in the United States, including both EVs and hybrid electric vehicles, he said. “As we begin to disclose the future of Stellantis, our electrification journey is quite likely the most crucial brick to lay,” Tavares stated at the occasion. The company’s executives stated that they are working on new EV platforms as well as technology to extend the life of the vehicles, such as over-the-air (or remote) updates and in-house EV technologies. By 2030, the business expects to have five battery production facilities, dubbed “gigafactories,” according to the corporation. By 2026, Stellantis expects to have double-digit adjusted profit margins, according to CFO Richard Palmer. Jeep, Ram, Opel, Fiat, Peugeot, and Maserati are among Stellantis’ 14 brands. It highlighted electrified plans for several of its brands throughout the event. It was created in January when Fiat Chrysler and PSA Groupe merged for $52 billion./n
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