Stellantis to boost EV plants with C$3.6 billion investment

·1 min read
FILE PHOTO: The logo of Stellantis at the entrance of the company's factory in Hordain

(Reuters) -Stellantis N.V. will spend up to C$3.6 billion ($2.8 billion) to boost production of electric vehicles at its Windsor and Brampton, Ontario plants with government investment, it said on Monday.

The Canadian government will spend up to C$529 million and the Ontario government up to C$513 million to support the automaker, government officials said.

Stellantis Chief Operating Officer Mark Stewart did not say what brands would be affected but said more details would come later. Both plants will add jobs, he said.

The company, formerly Fiat Chrysler Automobiles N.V., makes a range of vehicle brands including Alfa Romeo, Chrysler, Dodge, Fiat, Jeep and Ram.

It said the investment is part of previously announced plans to pump $35 billion into electric vehicle production and software globally through 2025.

Stellantis said the latest investment will allow it to add more than 650 engineering jobs at its Windsor-based research and development center.

These new jobs will be in addition to 2,500 jobs to be created at the Stellantis-LG Energy Solution joint venture battery plant, a company representative said.

In March, the automaker said it had taken significant steps in its battery production plans in Europe and North America to help meet rising demand for EVs.

(Reporting by Katharine Jackson, Ben Klayman and Steve Scherer; editing by Susan Heavey, John Stonestreet and Tomasz Janowski)

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