Stellantis reveals €5.6bn investment plan for LATAM
Automative giant Stellantis is to plough a record sum into the design and manufacture of EVs across the Latin American region.
It has confirmed a plan to invest EUR 5.6 billion from 2025 to 2030 to support the launch of more than 40 new products. The new funding will also support the development of new Bio-Hybrid technologies and decarbonisation programmes across the LATAM automotive supply chain.
Stellantis says this is the largest investment in the history of the Brazilian and South American automotive industry. The firm has been building up its presence in the region. For example, it acquired a 19.9% stake in Argentina's lithium specialist Litio y Energía and bought Brazilaian auto parts maker DPaschoal.
The development of Bio-Hybrid technology is key to this investment decision. Stellantis's facility in Betim Brazil is the company’s centre of expertise in the tech. In the future, the region will also produce a battery electric vehicle (BEV).
“This announcement solidifies our trust and commitment in the future of the South American automotive industry,” said Stellantis CEO Carlos Tavares. “As a critical part of our ‘third engine’ growth strategy, South America will take a leading role in accelerating the decarbonisation of mobility together with our employees, our supply chain network and our partners."
The fresh investment is part of Stellantis's Dare Forward 2030 strategic plan. This will see the firm invest more than EUR 50 billion in electrification over the next decade.
