By: AFP
| Updated on: 12 Sep 2024, 08:36 AM
Stellantis plans to invest over $400 million in three Michigan plants to support its transition to electric vehicle production. The investment aligns
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Stellantis plans to invest over $400 million in three Michigan plants to support its transition to electric vehicle production. The investment aligns with the company’s Dare Forward 2030 strategy, aiming for all sales in Europe and 50% in the U.S. to be fully electric by 2030. Read more 
Stellantis will invest over $400 million in Michigan plants to enhance electric vehicle production. This includes funding for the Ram 1500 REV and the future electric Jeep Wagoneer, supporting its goal of fully electric sales by 2030 in Europe and 50% in the U.S. (AP)
Multinational auto giant Stellantis announced on Wednesday plans to invest over $400 million in three Michigan plants related to the company’s transition to electric vehicle and battery production.
The investments in the northern US state would support Stellantis’s “multi-energy strategy” that aims to prepare for “a wide variety of electrification adoption scenarios,” the Amsterdam-headquartered company said in a statement.
The move is part of the company’s “Dare Forward 2030” plan to invest more than 50 billion euros ($55 million) in electrification, with the aim of making all sales by 2030 to be of fully electric vehicles for private customers in Europe, and 50 percent of sales for electric cars and light-duty trucks in the United States.
In Michigan, the historic heart of US auto-manufacturing, Stellantis said it would invest $235.5 million in its Sterling Heights plant, which is to produce the Ram brand’s first all-electric pickup truck. The Ram 1500 REV is due to go on sale by the end of the year.
The company recently modernized the plant to enable it to produce both combustion and electric vehicles on the same assembly line.
Meanwhile, the Warren Truck Plant is to receive around $97.6 million to set up manufacturing of the future electric Jeep Wagoneer, due for launch by the end of 2025.
In August, Stellantis announced it would cease production of the entry-level Ram 1500 Classic pickup, which has been manufactured at the site since 1993. The move was expected to result in the loss of almost 2,500 jobs beginning in October.
The company also said Wednesday it would spend over $73 million to modernize its Dundee Engine Plant to help manufacture its “STLA Frame” and “STLA Large” platforms, the base structure on which several models of EVs are to be built. Their production will begin in 2024 and 2026, respectively.
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First Published Date: 12 Sep 2024, 08:36 AM IST
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Publish date : 2024-09-12 03:36:00
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