Stellantis to Invest More Than EUR30 Billion in Electrification Through 2025
08 Juli 2021 - 03:35PM
Dow Jones News
By Mauro Orru
Stellantis NV on Thursday unveiled its strategy on electric
vehicles with plans to invest more than 30 billion euros ($35.37
billion) through 2025 in electrification and software
development.
The auto maker, created through the merger of Fiat Chrysler
Automobiles NV and Peugeot SA early this year, said the sum
includes equity investments in joint ventures, hoping to bolster
its standing in commercial vehicles in Europe and strengthening its
position in North America.
"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," Stellantis
Chief Executive Carlos Tavares said.
The company said it is targeting more than 70% percent of sales
in Europe and more than 40% in the U.S. to be low emission vehicles
by 2030.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
July 08, 2021 09:27 ET (13:27 GMT)
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