Stellandis has it Announced Thursday. The car team wants 70 percent of sales in Europe by 2030 to be an electric-powered model. In the United States, four out of ten cars must be electric.
Part of the investment is to develop new battery technologies without nickel and cobalt. There is a lot to do, especially about that last metal. Cobalt is often cut in the Democratic Republic of Congo, where human rights abuses were the order of the day.
A total of five Ziga factories, including Italy, France and Germany, are set to be built this decade. Stellandis batteries will soon be over 480 to 800 kilometers.
Despite a global chip shortage, the company tightened its profit forecast for the first half of the previous year on Thursday. Moreover, Stellandis expects to reach the double-digit profit margin by 2026.
Stellandis is not the only car company to invest heavily in the electrification of its fleet. Volkswagen (33 billion), Ford (22 billion) and General Motors (20 billion) previously announced similar plans.
Stellandis was formed earlier this year after PSA and Fiat Chrysler merged. There are a total of fourteen brands in this group: Abarth, Alfa Romeo, Chrysler, Citroen, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Peugeot, Opel, RAM and Voxhall.