Stellantis Converts Two Additional Plants to Electric Vehicle Factories with $2.8 Billion Investment

[Photo by AP Yonhap News]

[Asia Economy Reporter Park Byung-hee] Stellantis, the parent company of Chrysler, announced on the 2nd (local time) that it plans to invest $2.8 billion to replace equipment at two plants located in Brampton and Windsor, Ontario, Canada.

According to CNBC, Stellantis plans to convert these two plants into facilities that produce only electric and hybrid vehicles with this investment.

Stellantis also stated that it will add a battery laboratory to the research center in Windsor, Ontario, creating an additional 650 jobs.

This investment is part of Stellantis's previously announced $35 billion investment plan in the electric vehicle sector. Earlier this year, Stellantis announced plans to increase annual electric vehicle production to 5 million units by 2030.

Stellantis plans to begin replacing equipment at the Windsor plant next year. Equipment replacement at the Brampton plant will start in 2024, and both plants are expected to complete maintenance and resume operations in 2025.

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