Stellantis will invest $400 million in Michigan plants amid transition to EVs
The automaker plans to invest USD 235.5 million in its Sterling Heights plant to produce the Ram brand’s first all-electric pickup truck.
Automaker Stellantis plans to invest over USD 400 million in three Michigan plants, a move linked to the company’s transition to EV and battery production.
The investments would support Stellantis’s “multi-energy strategy” to prepare for a wide variety of electrification adoption scenarios, the company said in a statement.
This is part of the Amsterdam-headquartered company’s “Dare Forward 2030” plan to invest over USD 55 million in electrification and making all sales by 2030 to be of fully electric vehicles for private customers in Europe and 50% of sales for electric cars and light-duty trucks in the US, according to a report by AFP.
In Michigan, Stellantis plans to invest USD 235.5 million in its Sterling Heights plant, which will produce the Ram brand’s first all-electric pickup truck.
The multinational company recently modernized the plant so that it can produce both combustion and electric vehicles on the same assembly line.
Meanwhile, the Warren Truck Plant will receive USD 97.6 million to set up manufacturing of the electric jeep Wagoneer, which is due for launch by the end of next year.
The company is also spending over USD 73 million in modernizing its Dundee Engine Plant to help manufacture its STLA Frame and STLA Large platforms, the base structure on which many EV models will be built, the AFP report said.
