Stellantis, which have 14 motor brands including Vauxhall, Peugeot, Fiat, Citroen and Jeep, plans to invest more than €30 billion through 2025 in electrification and software. The announcement was made at the Stellantis EV Day 2021 on Thursday where they laid out their roadmap for the future.
Stellantis plans to continue being an automotive efficiency frontrunner, with investment efficiency 30 percent better than the industry average. The company is targeting over 70 percent of sales in Europe and over 40 percent in the United States to be Low emission vehicles (LEV) by 2030.
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.”
Stellantis intends to become the market leader in low emission vehicles (LEV). Through 2030, Stellantis’ LEV mix for passenger cars in Europe is targeted to steadily grow to over 70 percent, 10 percentage points ahead of current industry assumptions for the overall market mix. In the US, Stellantis’ LEV mix for passenger cars and light-duty trucks is expected to be more than 40 percent by 2030.
To execute this strategy, Stellantis plans to invest more than €30 billion through 2025 in electrification and software development. The company remains committed to growing its commercial vehicle leadership in Europe and strengthening its position in North America while aiming to be the global leader in electric commercial vehicles.
The Stellantis electrification roadmap encompasses the entire value chain. The company’s electric vehicle (EV) battery sourcing strategy is to secure more than 130-gigawatt-hours (GWh) of capacity by 2025 and more than 260 GWh by 2030.
The EV battery and component needs will be met with a total of five gigafactories in Europe and North America. This will be completed with additional supply contracts and partnerships to support total demand.
Stellantis are also aiming to reduce the price of battery packs by more than 40 percent from 2020 to 2024. This will be increased by an additional 20 percent by 2030.
The company intends to be customer-focused with affordability as a priority. They are aiming for the total cost of ownership of EVs to be equivalent to internal combustion engine vehicles by 2026.
Range and rapid recharges are key to widespread consumer acceptance of battery electric vehicles (BEVs). Stellantis plan to meet this challenge with BEVs that will deliver ranges between 300-500 miles (500-800km) and with class-leading fast charging capability of 20 miles (32km) per minute.
The company plans to have four BEV-centric platforms as the backbone of the electrified vehicles from Stellantis.
The platforms will offer a high level of flexibility and component sharing, delivering economies of scale with each platform supporting the production of up to two million units per year.
Stellantis will have a family of three electric drive modules (EDM) that combine the motor, gearbox and inverter. These EDMs are compact, flexible and can be easily scaled. The EDMs can be configured for front-drive, rear-drive, all-wheel drive and 4xe.
A program of hardware upgrades and over-the-air software updates will extend the life of the platforms well into the next decade. Stellantis will develop software and controls in-house to maintain the characteristics unique to each brand.
Tavares added: “Our electrification journey is quite possibly the most important brick to lay as we start to reveal the future of Stellantis just six months after its birth, and now the entire company is in full execution mode to exceed every customer’s expectations and accelerate our role in redefining the way the world moves.
“We have the scale, the skills, the spirit and the sustainability to achieve double-digit Adjusted Operating Income margins, lead the industry with benchmark efficiencies and deliver electrified vehicles that ignite passion.”