Stellantis Expands Europe's Electric Drive Production Capacity Through EUR103 Million Investment

By Sabela Ojea

Stellantis is increasing its production capacity of electric drive modules through a 103-million-euro ($111.1 million) investment in Hungary as it boosts its electric vehicle portfolio.

The automaker, whose brands include Chrysler, Fiat and Jeep, on Monday said that it is adding production in the Hungarian city of Szentgotthard, targeted to begin in late 2026.

The investment will include job openings in the European region.

The company said that it has leveraged a factory located in Tremery-Metz, France, and another one located in Kokomo, Indiana, for the production of electric dive modules.

Stellantis' Mirafiori, Italy-based complex is also expanding production of next-generation electrified dual-clutch transmissions this year for its hybrid and plug-in hybrid vehicles, the company added.

Overall, Stellantis is investing more than EUR50 billion in electrification over the next decade to deliver on its 2030 strategic target of reaching a 100% passenger car battery electric vehicle sales mix in Europe.

The investment is also aimed at reaching 50% passenger car and light-duty truck fully electric or battery electric vehicles sales in the U.S. by 2030.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

February 12, 2024 13:48 ET (18:48 GMT)

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