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Stellantis has announced a €5.6 billion investment in South America, marking its largest in the region’s automotive industry. The investment will support over 40 new products, the development of decarbonization technologies, and Bio-Hybrid systems. This move aligns with Stellantis’ long-term strategic plan, aiming for carbon neutrality by 2038. The company also plans to expand its footprint in the South American aftermarket segment
Regarded as the world’s largest and leading car manufacturers, Stellantis has unveiled a massive project in South America. The automaker says it will invest $6 billion in South America. The company which boasts brands such as Dodge and Maserati in its stable has an investment plan of up to $30 billion.
Stellantis pumps up billions in South America
As one of the global leaders in the auto industry, Stellantis aims to provide clean, safe and affordable freedom of mobility to all. Having made its reputation for having the likes of Abarth, Alfa Romeo, Chrysler and Citroën in its stable, the company announced €5.6 Billion Investment in South America, thus marking the largest investment in the region’s automotive industry.
A statement from the company reveals that the investment will support more than 40 new products, the development and production of decarbonization technologies, and new business opportunities.
“The planned investments will support the launch of more than 40 new products during the period as well as the development of new Bio-Hybrid technologies, innovative decarbonization technologies across the automotive supply chain, and strategic new business opportunities,” announced the company in Amsterdam.
The investment from Stellantis reinforces its leadership in the region, strengthens the development of the local industry, and accelerates its achievement of the Dare Forward 2030 long-term strategic plan as the region maintains its leadership in offering clean, safe and affordable mobility in Brazil and South America.
CEO Carlos Tavares said this “announcement solidifies our trust and commitment in the future of the South American automotive industry and is a response to the favorable business environment here.”
“As a critical part of our ‘third engine’ growth strategy, South America will take a leading role in accelerating the decarbonization of mobility together with our employees, our supply chain network and our partners. I want to thank each team member involved in helping create and execute our investment strategy so that, together, we can achieve our industry-leading carbon neutrality ambition.”
Stellantis strategic plan in South America
As part of its Dare Forward 2030 strategic plan, Stellantis is now investing more than €50 billion in electrification over the next decade and is on track to become a carbon net zero corporation by 2038, all scopes included, with single-digit percentage compensation of remaining emissions.
Why did Stellantis make such a massive investment into South America? The company is a big role player in the “third engine” – the aggregation of the South America, Middle East & Africa and China and India & Asia Pacific segments.
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Having set up a Stellantis facility in Betim, Brazil, this makes the company’s global center of expertise for Bio-Hybrid technology.
In addition, the company also seeks to continue with its legacy of innovation and under the Fiat brand, Stellantis pioneered the development and application of bio-fuel engine technology, which used 100% ethanol. In the future, the region will also produce a battery electric vehicle (BEV).
The project will bring about cutting-edge Bio-Hybrid technologies, which “combine electrification with hybrid engines powered by bio-fuels (ethanol) on three different levels”.
The production of the first vehicles equipped with Bio-Hybrid technology is flexible and can be integrated into various models manufactured by Stellantis. The automaker is a leader in the three main markets in South America: Brazil, Argentina, and Chile.
Just last year, Stellantis’ total sales in the region surpassed 878,000 vehicles, with a 23.5% market share.
Moreover, the company pronounced that following the acquisitions of companies Norauto and DPaschoal, it has become the largest auto parts distributor in South America with plans to further expand its presence in the aftermarket segment.
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Source Link : The Moment
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