Stellandis, the auto group behind brands such as Peugeot, Citroen, Opel, Fiat and Chrysler, will invest more than 30 30 billion in electric driving growth in the coming years. Founded after the merger of PSA and Fiat Chrysler, the company also promises to boost battery life.
Stellandis CEO Carlos Tavares wants to turn the group’s fourteen brands into future-proof. Earlier, rivals Volkswagen, General Motors and Ford announced similar plans.
Stellandis wants 70 percent of sales in Europe to be by electric model by 2030. In the United States, it should be 40 percent of car sales. Stellandis batteries will soon be over 480 to 800 kilometers. Moreover, Stellandis expects to reach the double-digit profit margin by 2026.
Despite a global chip shortage, the company tightened its profit forecast for the first half of the previous year on Thursday. In addition, the company confirmed that it would set up a battery factory in Italy. The company already had plans for battery factories in Germany and France.