Stellantis to invest $229 mln to upgrade Indiana plants for EVs

Above Article Content Ad

A Stellantis signal is seen outdoors the corporate’s headquarters in Auburn Hills, Michigan, U.S., June 10, 2021. REUTERS/Rebecca Prepare dinner/File Photograph

Oct 7 (Reuters) – Stellantis , the world’s fourth largest carmaker, stated on Thursday it will make investments $229 million in three vegetation in Indiana to expedite the event of electrical autos.

The funding, which can retain 662 jobs, will retool three Kokomo vegetation in Indiana to supply electrified, eight-speed transmissions, Stellantis stated.

A world clampdown on emissions has pressured carmakers to speed up the event of low-emission know-how, even for his or her low-margin mainstream fashions.

Stellantis, fashioned earlier this 12 months although the merger of Fiat Chrysler and France’s PSA, made the announcement throughout an occasion on the Kokomo Transmission Plant attended by Indiana Governor Eric Holcomb.

Earlier this 12 months, the carmaker introduced it will make investments greater than 30 billion euros ($35.54 billion) by way of 2025 on electrifying its car lineup.

Reporting by Shreyasee Raj; Modifying by Shailesh Kuber


Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button