Major automotive firm Stellantis has announced a €30 billion (£25.8bn) investment in electric vehicle technology, promising cars with up to 500 miles of range.
The Dutch-based company was born from a merger between Fiat Chrysler Automobiles and the PSA Group in January this year, and owns a huge number of car manufacturers such as Fiat, Vauxhall, Citroen and Peugeot.
The investment is targeting the production of electric cars with 300 to 500 miles of range, with fast charging capable of adding about 20 miles per minute.
Four electric vehicle platforms will be produced that can be adapted to create vehicles that fit into every segment, with three electric powertrains and standardised battery packs to be used across each of the firm’s companies.
All 14 Stellantis brands will be offering these electric vehicles and the firm is targeting 70 per cent of sales being EVs in Europe by 2030, with 40 per cent in America.
Carlos Tavares, Stellantis CEO, said: “The customer is always at the heart of Stellantis and our commitment with this €30 billion plus investment plan is to offer iconic vehicles that have the performance, capability, style, comfort and electric range that fit seamlessly into their daily lives.
“The strategy we laid out today focuses the right amount of investment on the right technology to reach the market at the right time, ensuring that Stellantis powers the freedom of movement in the most efficient, affordable and sustainable way.”
One of the key concerns that often arises in customer surveys about electric vehicles is that they’re too expensive, but Stellantis says affordability is important, and it wants its EVs to cost the same as an equivalent petrol or diesel model within five years.
Despite sharing platforms and technology, Stellantis is keen to ensure each manufacturer within the group keeps its own identity, whether that be Abarth’s performance cars or Maserati’s luxury models. It has also confirmed that commercial vehicles will be produced under this plan.