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The initiative comes amid a broader push for sustainability in the region, with Brazilian President Luiz Inacio Lula da Silva saying also on Tuesday that under him the country’s economy would be based on “finding clean energy alternatives”.
Antonio Filosa said the Brazilian state of Minas Gerais would be the “epicenter” of ethanol hybrid cars for Stellantis, which has three plants in Brazil, two in Argentina and an industrial partnership in Uruguay.
“We launched the Bio-Electro project last year and now we are going to work internally to have the first technologies developed in-house by the end of this year, and then launch them to the market when it is opportune,” the executive told reporters.
Local hybrid and electric vehicle production is still concentrated in Asian firms such as Toyota and CAOA Chery, with China’s BYD Co (OTC:BYDDF) Ltd also considering setting up production in northeastern Brazil.
Filosa added that Stellantis also eyes making fully electric cars and cars powered by ethanol fuel cells there in the future.
He said the company is set to launch a total 43 vehicles from eight different brands in the region in the 2021-2025 period, with investments planned to reach more than 16 billion reais ($3.14 billion).
($1 = 5.0944 reais)
