03/06/2024 – 21:41
The automotive group Stellantis announced this Wednesday (6) that it will invest 5.6 billion euros in South America between 2025 and 2030, with the aim of developing its offer of electric vehicles on the continent and other technologies.
“Stellantis announces a record investment plan for South America, totaling 5.6 billion euros”, equivalent to 30.1 billion reais, the group said in a statement.
“This announcement reinforces our confidence and commitment to the future of the South American automotive industry, and is a response to the favorable commercial environment that exists there”, declared CEO Carlos Tavares.
The investment, the “largest in the history of the Brazilian and South American automotive sector” according to Stellantis, will allow “the launch of more than 40 new products” by the end of the decade.
President Luiz Inácio Lula da Silva highlighted in a post on the social network X a meeting with Tavares in Brasília, where he “announced R$30 billion in investments in Brazil”.
The group, made up of 14 brands, is the leader in the region with 878,000 vehicles sold in 2023, representing a market share of 23.5%. Fiat is the best-selling brand in South America, especially thanks to the Fiat Strada pickup truck, the most popular vehicle on the continent.
This operation is part of the Dare Forward 2030 plan, which foresees an investment of 50 billion euros (R$269.3 billion) in the electrification of the group's range by 2030.
The 5.6 billion euros announced will be allocated, among other things, to finance the “Bio-Hybrid” technology, which combines electrification and hybrid motorization powered by biofuel (ethanol), Stellantis explained.
The Betim factory, in Minas Gerais, which produces Fiat vehicles, including the Fiat Strada, “is the company's global center of expertise” for this technology. “In the future, the region will also produce a battery electric vehicle (BEV),” the manufacturer added.
The Bio-Hybrid technology developed “is compatible with all of the company's production lines in the region”. The group plans to launch it by the end of 2024.
Stellantis presents South America as an essential part of its “third engine”, made up of Africa, the Middle East, China, India and Asia-Pacific.
The group recently acquired 19.9% of the Argentine company Litio y Energía SA, producer of this essential metal in the manufacture of batteries, with the aim of “meeting the electrification objectives defined in its global strategic plan”.
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