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<blockquote data-quote="WPLG" data-source="post: 25908" data-attributes="member: 158">Automaker Stellantis said Monday it will invest $3.6 billion Canadian dollars ($2.8 billion) to upgrade two Canadian assembly plants and expand a research center as it accelerates its long-term electrification strategy.Combined with its March announcement of a joint venture battery plant with LG Energy Solution, the new investment gives Stellantis an overall investment in Ontario of CN$8.6 billion.“These investments re-affirm our long-term commitment to Canada and represent an important step as we move toward zero-emission vehicles that deliver on our customers’ desire for innovative, clean, safe and affordable mobility,” said Stellantis North America Chief Operating Officer Mark Stewart.Amsterdam-based Stellantis was formed last year with the merger of Fiat Chrysler and France’s PSA Peugeot and is the world’s fourth-largest automaker.Its long-term global strategy is to invest CN$45 billion through 2025 in electrification and software. The company plans to sell 5 million electric vehicles by 2030, with 50% of its North American passenger-car and light-truck sales going fully electric by 2030. It plans to sell only electric passenger cars in Europe by 2030.In March, Stellantis <a href="https://apnews.com/article/technology-business-detroit-electric-vehicles-north-america-0eaf4857f0ec24d559af2fa54a6c2ebb" target="_blank">announced that a joint venture</a> between it and South Korea’s LG Energy Solution to build a large electric vehicle battery factory in Windsor, Ontario, employing about 2,500 people just across a river from Detroit.That venture plans to spend CN$5 billion to build the new plant on a field in the Canadian city. It’s expected to open early in 2024 and will be able to make battery cells and modules for over 500,000 electric vehicles per year.<a href="https://www.local10.com/business/2022/05/02/stellantis-pours-billions-more-into-canada-electric/" target="_blank">Continue reading...</a></blockquote>

[QUOTE="WPLG, post: 25908, member: 158"] Automaker Stellantis said Monday it will invest $3.6 billion Canadian dollars ($2.8 billion) to upgrade two Canadian assembly plants and expand a research center as it accelerates its long-term electrification strategy. Combined with its March announcement of a joint venture battery plant with LG Energy Solution, the new investment gives Stellantis an overall investment in Ontario of CN$8.6 billion. “These investments re-affirm our long-term commitment to Canada and represent an important step as we move toward zero-emission vehicles that deliver on our customers’ desire for innovative, clean, safe and affordable mobility,” said Stellantis North America Chief Operating Officer Mark Stewart. Amsterdam-based Stellantis was formed last year with the merger of Fiat Chrysler and France’s PSA Peugeot and is the world’s fourth-largest automaker. Its long-term global strategy is to invest CN$45 billion through 2025 in electrification and software. The company plans to sell 5 million electric vehicles by 2030, with 50% of its North American passenger-car and light-truck sales going fully electric by 2030. It plans to sell only electric passenger cars in Europe by 2030. In March, Stellantis [URL='https://apnews.com/article/technology-business-detroit-electric-vehicles-north-america-0eaf4857f0ec24d559af2fa54a6c2ebb']announced that a joint venture[/URL] between it and South Korea’s LG Energy Solution to build a large electric vehicle battery factory in Windsor, Ontario, employing about 2,500 people just across a river from Detroit. That venture plans to spend CN$5 billion to build the new plant on a field in the Canadian city. It’s expected to open early in 2024 and will be able to make battery cells and modules for over 500,000 electric vehicles per year. [url="https://www.local10.com/business/2022/05/02/stellantis-pours-billions-more-into-canada-electric/"]Continue reading...[/url] [/QUOTE]

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