Stellantis pledges almost £26bn in development of new electric vehicles

  • Stellantis to invest nearly £26bn in new electric vehicles
  • New electric platforms to offer up to 500 miles of range
  • Investment will benefit all of Stellantis’ 14 car brands, including Peugeot, Fiat and Vauxhall

Time 2 months ago

Stellantis has announced a major €30bn (£25.8bn) investment plan in new electric vehicles for its 14 car brands, including Peugeot, Fiat and Vauxhall.

The new strategy will target producing electric cars with between 300 and 500 miles of range and having the ability to be fast charged, adding 20 miles of range per minute.

The car giant doesn’t just have plans for one platform, though – four new platforms will be built giving Stellantis’ brands the ability to offer a variety of models with differing ranges and body sizes.

It’s also developing three electric powertrains and standardising battery packs across its portfolio.

All 14 Stellantis brands will be offering these electric vehicles and the firm is targeting 70 per cent of sales being EVs in Europe by 2030, with 40 per cent in America.

Speaking at Stellantis’ EV Day 20201, Carlos Tavares, Stellantis CEO, said: ‘The customer is always at the heart of Stellantis and our commitment with this €30bn plus investment plan is to offer iconic vehicles that have the performance, capability, style, comfort and electric range that fit seamlessly into their daily lives.

‘The strategy we laid out today focuses the right amount of investment on the right technology to reach the market at the right time, ensuring that Stellantis powers the freedom of movement in the most efficient, affordable and sustainable way.’

Stellantis also confirmed that it’ll be focusing on offering affordable electric cars, and wants its EVs to cost the same as an equivalent petrol or diesel model within five years.

Despite sharing platforms and technology, Stellantis is keen to ensure each manufacturer within the group keeps its own identity, whether that be Abarth’s performance cars or Maserati’s luxury models.

It has also confirmed that commercial vehicles will be produced under this plan.

James Batchelor's avatar

James – or Batch as he’s known – started at Car Dealer in 2010, first as the work experience boy, eventually becoming editor in 2013. He worked for Auto Express as editor-at-large and was the face of Carbuyer’s YouTube reviews. In 2020, he went freelance and now writes for a number of national titles and contributes regularly to Car Dealer.

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