Stellantis to invest over USD 406 mln in Michigan plants in EV, hybrid push

admin admin | 09-12 00:30

Stellantis to invest more than USD 406 million in three facilities in Michigan.
Stellantis said on Wednesday it would invest more than USD 406 million in three facilities in Michigan to develop a platform that can be shared for both electric and hybrid vehicles.

One of the facilities, the Sterling Heights Assembly Plant, would become its first in the U.S. to build fully EVs, the Chrysler-parent said.

The company said it will spend more to retool Warren Truck Assembly Plant for making an electrified Jeep Wagoneer and raise investment at Dundee Engine Plant for producing its recently launched platform for cars, crossovers and SUV models.

It will spend more than 50 billion euros ( USD 55.23 billion) over the decade in its aim to reach 100% passenger car battery electric vehicles sales (BEV) mix in Europe and 50% passenger car and light-duty truck BEV sales in the U.S. by 2030.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.


ALSO READ

Ola Electric responds to ARAI notice, says prices of S1 X 2 kWh scooter unchanged

Ola Electric provided an invoice dated October 6, showing a INR 5,000 discount given to customers, a...

Hyundai Motor IPO’s off to a slow start

Around 35% of the total shares in the offering are reserved for retail investors, while QIBs and NII...

Under fire, Ola Electric taps EY India to get back on track

Close to a dozen executives from EY came on-board at Ola Electric a few weeks ago on deputation for ...

Tata Motors secures 5-star BNCAP safety ratings for Nexon, Curvv, and EV models in latest crash tests

Tata Curvv.EV BNCAP testTata Motors did it again! Tata Motors has once again secured 5 star rating i...

India needs to step up manufacturing to meet Viksit Bharat goal: Volvo Grp India MD

Volvo Group India Managing Director and President, Kamal Bali. The manufacturing sector is a weak li...

Dollar pullback to help Indian rupee, weak risk appetite to weigh

Investors are now nearly certain that the U.S. Federal Reserve will deliver a 25-basis-point rate cu...