Stellantis to invest $35 billion through 2025 for the electrification of all its 14 brands of vehicles

Stellantis, the world’s sixth largest automaker, unveils a new electrification plan Thursday for all its 14 brands of vehicle lineup including new electric vehicles (EVs) with up to a 500-mile range.

Formed out of the merger between Italian-American automaker Fiat Chrysler and France’s PSA Group, Stellantis announced what it called “a comprehensive electrification strategy” that includes a new €30 billion ($35.54 billion) investment through 2025.

As part of its plans to compete with electric vehicle (EV) leader Tesla and other global automakers, Stellantis said its strategy will be supported by five battery plants in Europe and North America. In a webcast during the company’s “EV Day 2021” event, Stellantis CEO Carlos Tavares said:

“The customer is always at the heart of Stellantis and our commitment with this €30 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. 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.”

As part of the announcement, Stellantis said it is targeting more than 70 percent of sales in Europe and over 40 percent in the United States to be low emission vehicle (LEV) by 2030. The company also said that its goal is to make the total cost of owning an EV equal to that of a gasoline-powered model by 2026.

Below are the key takeaways from the announcements made today:

• Plans to invest more than €30 billion through 2025 in electrification and software, while continuing to be the automotive efficiency frontrunner, with investment efficiency 30 percent better than industry average
• Targeting over 70 percent of sales in Europe and over 40 percent in the United States to be low emission vehicle (LEV) by 2030
• All 14 brands committed to offering best-in-class fully electrified solutions
• Delivering BEVs that meet demands of customers, with ranges of 500-800 km/300-500 miles and class-leading fast charging capability of 32 km/20 miles per minute
• Four flexible BEV-by-design platforms, scalable family of three electric drive modules and standardized battery packs to cover all brands and segments
• Platforms designed for long life via software and hardware upgrades
• Global EV battery sourcing strategy of over 260GWh by 2030, supported by five “gigafactories” between Europe and North America
• Plans include dual battery chemistries: a high energy-density option and a nickel cobalt-free alternative by 2024
• Solid state battery technology introduction planned in 2026

Headquartered in Amsterdam, The Netherlands, Stellantis is a Dutch multinational automaker formed in 2021 through a cross-border merger between the Italian-American conglomerate Fiat Chrysler Automobiles and the French PSA Group.

Stellantis brands include: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram, and Vauxhall brands. The company currently has 300,000 employees, a presence in more than 130 countries with manufacturing facilities in 30 countries.