Jul 8, 2021
Vauxhall owner Stellantis to invest €30bn in electric vehicles
Vauxhall owner Stellantis has said it will invest more than €30bn in electric vehicles between now and the end of 2021.It aims to make the total cost of owning an electric vehicle equal to that of a petrol-driven model by 2026.Stellantis said it would build at least five battery plants in Europe and the US to support its strategy. The world's fourth-biggest car maker, which was formed in January from the merger of Italian-American firm Fiat Chrysler and France's PSA, is gearing up to compete with electric vehicle leader Tesla and other big car manufacturers. The future of the plant had been in doubt after Stellantis scrapped plans to build its new Astra model there. Stellantis is currently building two battery plants, one in France and one in Germany, and it said it would establish a third at Termoli in Italy. The two "Gigafactories" at Douvrin in France and Kaiserslautern in Germany will get French and German government support of €1.3bn.A spokesman said Stellantis would build at least two more such plants, which are likely to be in the US.He add that the company planned to build the battery factories at its major production hubs, and did not have current plans to build any gigafactories in the UK..
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