Huge multinational car manufacturer Stellantis invest $ 35.54 billion in electric car manufacturing, or about € 30 billion by the end of 2025, according to the news agency Reuters.
Consulting company Alix Partners commented to Reuters that the sum of this magnitude, earmarked for the development of electric cars, is “striking”.
The giant aims to have 70% of the cars it sells in Europe by 2030 be either hybrids or all-electric cars.
“The team has gas at the bottom of this electrification journey,” Stellantis ’CEO Carlos Tavares told a webinar organized by the company.
Part of the pot is allocated to battery manufacturing. According to Stellantis, five battery plants in Europe and North America are part of the company’s business strategy. According to a Reuters source Samsung plans to open a battery plant in the U.S. and has discussed the matter with various automakers, including Stellantis.
The transformation of the car market is creating giant groups
Giant mergers made up of different brands are in the car market today. Founded in January this year, the American-Italian-French merger Stellantis was the world’s fourth largest automaker at birth. Above it are Toyota, Volkswagen and Daimler.
The merger was born when Fiat Chrysler Automobiles and PSA Group beat the nails together. Stellantis currently owns 14 different car brands, including Citroen, Opel and Peugeot.
Indeed, one could say that car manufacturers have a gas bottom in terms of electrification. Opel said last week to stop the production of internal combustion cars in Europe.
Source: Tivi by www.tivi.fi.
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