Stellantis To Spend 30 Billion Euros In 4 Years To Electrify Fleet

0
196

Stellantis also aims to achieve “double-digit” operating margins from electric sales by 2026

As the global race for electrification picks up pace among automakers, Dutch automotive manufacturer Stellantis has also entered the fray, announcing its plans to invest about 30 billion euros ($35.54 billion) through 2025 on electrifying its vehicle lineup.

The carmaker has also explicitly laid out its electrification strategy which includes plans to open five battery factories across Europe and the US by the end of the decade. 

With brands including Jeep, Peugeot, Vauxhall and Ram, Stellantis is eyeing 70 per cent of sales in Europe and over 40 per cent in the United States to be low-emission vehicles – either battery or hybrid electric – by 2030. 

Four out of five of these would be battery-electric cars, with the rest plug-in hybrid models, chief executive Carlos Tavares said. 

Stellantis also aims to achieve “double digit” operating margins from electric sales by 2026. 

It said all 14 of its vehicle brands will offer fully electrified vehicles. It is also aiming to electrify its commercial vehicle lineup, and rolling out hydrogen fuel-cell medium vans by the end of 2021.

This comes as other rival companies are also ramping up investments and efforts into electrifying their fleet. Volkswagen is spending 35 billion euros on electric vehicles, while Ford raised its spending targets to more than $30 billion by the end of the decade. 

Stellantis said Opel and Vauxhall would sell electric cars in Europe only after 2028. Opel will also launch as an all-electric brand in China. 

Jeep promised to release a battery model in every segment by 2025, while its Ram brand will produce a fully electric pick-up truck in 2024. 

Stellantis said it planned to build four manufacturing platforms that would allow it to make battery versions of the vehicles in its range, which run from small hatchbacks to large pick-up trucks. The models will be able to run from 300 miles to 500 miles on a single charge. 

The company also aims to have solid-state batteries, which allow longer ranges and faster charging in some vehicles from 2026. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here