Stellantis spending 30b euro on electrification journey

Stellantis wants to become a sustainable mobility tech company and is planning to spend more than 30 billion euro in the next three years on electrification and software to support its 14 vehicle and two mobility brands.

It has celebrated the first year of operation since the group was formed on January 19, 2021 by the merger of the PSA Group (Peugeot SA) with Fiat Chrysler Automobiles.

The listed company says a long-term strategic plan will be announced to shareholders and the public on March 1.

Stellantis says it has 33 electrified vehicles available now, including fuel cell vans, and eight more battery electric vehicles (BEVs) coming in the next 18 months.

The listed company says it launched more than 10 new products in 2021 including: the Citroën C4, Fiat Pulse, DS 4, DS 9, Jeep Commander, Jeep Grand Cherokee/Grand Cherokee L, Grand Wagoneer/Wagoneer, Maserati MC20, Opel Mokka, Opel Rocks-e and Peugeot 308.

Stellantis says it’s building partnerships with Automotive Cells Company, Factorial Energy, LG Energy Solution, Samsung SDI and Vulcan Energy as well as accelerating its software transformation through collaborations with Amazon, BMW, Foxconn and Waymo.

The listed company is strengthening financing operations in the United States, acquiring First Investors Financial Services and partnerships across Europe with BNP Paribas Personal Finance, Crédit Agricole Consumer Finance and Santander Consumer Finance.

“Our industry is entering an exciting new era, fuelled by our customers’ ever-increasing digital lifestyles,” Stellantis chief executive Carlos Tavares says.

“It is no coincidence that Stellantis was born precisely when our world requires a new kind of spirit, one that supports this human imperative by providing clean, connected, affordable and safe freedom of mobility for all.”