Detroit, September 11 (FinanceFlashNews.com) – Automotive giant Stellantis announced a $406 million (€367.65 million) investment in the production of electric vehicles (EVs) in the United States, according to Reuters and DPA reports. The funds will be allocated to three facilities in Michigan, with the company aiming to develop a platform that can support both electric and hybrid vehicles.
Sterling Heights Plant to Lead Electric Vehicle Production
The Sterling Heights Assembly Plant will become Stellantis’ first U.S. facility to produce fully electric vehicles. A significant $235.5 million of the total investment will go toward manufacturing the Ram 1500 REV, a battery-electric light-duty truck expected to hit the market by the end of 2024. The facility will also build the all-new 2025 Ram 1500 Ramcharger.
In addition to this, Stellantis will invest $97.6 million to revamp its Warren Truck Assembly Plant for the production of an electrified Jeep Wagoneer, and another $73 million into the Dundee Engine Plant, which will support the company’s new platform for cars, crossovers, and SUVs.
Long-Term Electric Vehicle Strategy
Stellantis is committed to a broader goal of transitioning its vehicle lineup to electric. The company has pledged to invest €50 billion over the next decade to ensure that by 2030, it sells only battery electric vehicles (BEVs) in Europe and achieves a 50% share of BEVs in its U.S. sales.
Key Stellantis Investment Data
| Facility | Investment (USD) | Purpose |
|---|---|---|
| Sterling Heights Assembly | 235.5 million | Production of Ram 1500 REV and 2025 Ram 1500 Ramcharger |
| Warren Truck Assembly | 97.6 million | Production of electrified Jeep Wagoneer |
| Dundee Engine Plant | 73 million | Development of new platform for cars, crossovers, SUVs |
Keywords: Stellantis, electric vehicles, Michigan, Ram 1500 REV, Jeep Wagoneer, electric platform, U.S. investment
