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Stellantis’s Mangualde Production Center, which has made over 1.5 million vehicles, will produce battery electric light commercial vehicles for Citroën, Fiat, OPEL and Peugeot (OTC:PUGOY), the company said in a statement.
Stellantis, the world’s third-largest automotive group by sales, planned to spend over 30 billion euros ($32.53 billion) through 2025 to electrify its vehicle lineup and boost its software content to catch up with rivals, including Tesla (NASDAQ:TSLA) Inc.
Stellantis was created through the $52 billion merger of Fiat Chrysler and Peugeot maker PSA in 2021.
($1 = 0.9223 euros)
