The major automakers have already revealed major initiatives to support their electric vehicle ambitions. For the second time, General Motors (NYSE: GM) has boosted its investment plan in the electric and autonomous vehicle industry, with the firm now planning to invest an unprecedented $35 billion until 2025. Something along such lines is consistent with the company’s 100-year history.
Ford (NYSE: F) has pledged a $30 billion investment by 2030, resulting in the electrification of 40% of its cars. Volkswagen (OTC: VWAGY), the world’s second-largest automaker, has indicated that it is willing to spend even more. This German automaker plans to invest $86 billion in electric vehicles over the next five years. Stellantis (NYSE: STLA), the fourth-largest automaker in the world, is no exception. The business announced intentions to invest at least $35.5 billion on electric vehicles by 2025 at its electrification event.
Stellantis’ Background
The cross-border merger between Fiat Chrysler Automobiles and PSA Group was completed in 2021. This merger has been a priority for both companies for more than a year, and Stellantis is now the third-largest automaker by revenue and fourth-largest by volume. Fiat, Chrysler, Dodge, Alfa Romeo, Lancia, Jeep, Ram, Abarth, and Maserati are now under the same roof as Peugeot, Citroen, DS, Opel, and Vauxhall. The company’s headquarters are in Amsterdam, and it has offices in the United States, Italy, and France. The combination enables the companies to be more competitive in terms of research and development expenditures, particularly as the shift to the electric vehicle era approaches.
Models on the way
Stellantis presently offers 29 electric vehicles, including hybrid and fully electric vehicles. The group intends to grow this number to 39 by the end of 2021. The plan is to create one new electric model for every new worldwide model that is released.
By 2025, the business intends to have 15 hybrid and 40 all-electric cars on the market. Stellantis differs from other automakers in that the first milestone does not include just all-electric automobiles. As a result, an electric Dodge muscle car and an electric Ram truck will be available by 2024, followed by Jeep’s all-electric SUV in 2025. Stellantis, on the other hand, is around two years behind GM and Ford.
Plans and Activities Currently Underway
The group’s leaders established a strategy to ensure sufficient battery supply to enable the electrification of its 14 brands and models. In North America and Europe, a total of five battery factories are planned. Two plants have already been announced in France and Germany, and a third battery facility will be built in Termoli, Italy, by converting an existing engine manufacturing. The company aims to reach 130 gigawatt-hours of battery capacity by 2025 and 260 gigawatt-hours by 2030.
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