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Stellantis to invest $35.5 billion in EV production

Stellantis, the company formed from the merger of Fiat Chrysler and PSA, has announced it will invest more than $35.5 billion in electric vehicle production through 2025, with the support of five battery plants in Europe and North America.

The automaker is planning for each of its 14 vehicle brands to offer EVs. Its goal is for more than 70% of its sales in Europe and more than 40% in the U.S. to be battery or hybrid electric vehicles by 2030.