Car giant Stellantis is investing 30 billion euros in the development of electric vehicles. It will open five battery factories in Europe and the USA

The Stellantis car group, born this year from the merger between the big car groups Peugeot-Citroën and Fiat-Chrysler, announced on Thursday that it wants to invest over 30 billion euros by 2025 to electrify its entire range of vehicles, Agerpres reports.

Stellantis said the strategy would be supported by five electric vehicle battery plants in Europe and North America, with the idea of ​​competing with Tesla, the market leader in electric vehicles, and other major global automakers.

One of Stellantis’ five battery plants will be built at its engine plant in Termoli, Italy, to be added to the other two battery plants to be built in Germany and France. The carmaker added that another plant will be in the US.

“This period of transformation is a wonderful opportunity to reset the clock and start a new race. Our group is at full speed in this journey towards electrification “, said the general manager of Stellantis Carlos Tavares.

Stellantis said its goal is for more than 70% of its sales in Europe and more than 40% of sales in North America to be low-emission, either battery-powered or hybrid, by 2030. The group added that all 14 brands from its portfolio, including Peugeot, Jeep, Ram, Fiat and Opel, will be fully electrified vehicles.

At a similar event last week, Renault announced that 90% of its flagship models will be fully electric by 2030, with hybrid models previously included in the target. German car group Volkswagen also expects all-electric vehicles to account for 55% of its total sales in Europe by 2030, with 70% of its flagship brand Volkswagen.

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