March 28, 2023

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As per the latest reports, Stellantis has made an announcement in regards to its future plans. The giant automaker has announced that it is planning to make significant additions to its vehicle portfolio. As per reports, Stellantis has announced that it is going to make a huge investment in order to make a move in the electric vehicles sector.

Stellantis is one of the giant automakers that has been formed after a merger between PSA from France and Fiat Chrysler Automobiles. The company has announced that until the end of 2025, it will be making an investment worth €30 billion to expand its vehicle portfolio.

At the time of writing, the €30 billion figure translates to $35.5 billion. The company will be making such a large investment for developments and growth in the electric vehicles sector.

The company has also announced its plans for the manufacturing and distribution of electric vehicles in different regions in the upcoming years. The company has announced that in the next four years, it will be targeting the European and American markets for electric vehicles.

According to the company, it will be making sure that in the next four years, it achieves 40% of its sales in the United States for electric vehicles. As for Europe, the company is aiming to achieve 70% sales in the next four years with electric vehicles.

Stellantis has even categorized electric vehicles into two types. The first one would be plug-in hybrid vehicles or fully electric vehicles. Furthermore, the plug-in hybrid vehicles it is going to launch would be mainly electric.

This information was shared by Carlos Tavares, the CEO at Stellantis during a presentation he went through life with the stakeholders and the board.

Tavares stated that it is going to be one most of the aggressive commitments that an automobile company has made in such a short amount of time. Even General Motors vowed to go fully electric stated it would be doing it by 2040.

Tavares stated that with time, the electric vehicle industry is taking over the automobile industry. From sedans to SUVs, and then trucks, the industry is gaining tremendous growth and adoption among enthusiasts.

People are constantly moving towards the electric vehicle industry because of environmental concerns. Even governments from around the world are finding ways to get rid of any sources that are responsible for emitting carbon on a large scale.

The company has announced that in order to bring more car enthusiasts, it is going to come up with the Dodge brand that is going to be all-electric. On the other hand, the company is also coming up with a Ram pickup, which is also all-electric.

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