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Thursday, 08 July 2021 22:01

Stellantis to Invest $36B in EVs Through 2025

Written by Mark Kane, Inside EVs

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About six months after its birth from the business combination of PSA Group and Fiat Chrysler Automobiles (FCA), Stellantis held a major event, Stellantis EV Day 2021, to present its plans.

The group is considered the fourth largest car manufacturer by volume, and intends to intensify electrification through executing a very comprehensive electrification strategy with a focus on vertical-integration and synergy between all the brands.

 

Stellantis intends to invest more than $35.6 billion through 2025 in electrification and software development, including equity investments made in joint ventures to fund their activities to offer "best-in-class fully electrified solutions" over all 14 brands.

 

Meanwhile, the group targets "sustainable double-digit adjusted operating income margins in the mid-term," around 2026.

 

“The customer is always at the heart of Stellantis and our commitment with this [$35.6 billion]-plus investment plan is to offer iconic vehicles that have the performance, capability, style, comfort and electric range that fit seamlessly into their daily lives," said Carlos Tavares, CEO. "The strategy we laid out today focuses the right amount of investment on the right technology to reach the market at the right time, ensuring that Stellantis powers the freedom of movement in the most efficient, affordable and sustainable way.”

 

The rate of electrification will differ depending on the market. Stellantis announced by 2030, low emission vehicle (LEV) will account for more than 70% of its sales in Europe. In the U.S., it will be more than 40% in the same timeframe.

 

The electrification will concern both passenger cars of all types---mainstream models, pickups and even muscle cars---as well as commercial vehicles.


Only time will tell what will be...


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