Global auto-making giant Stellantis N.V. said it plans to spend more than 30 billion on electric…

Global auto-making giant Stellantis N.V. said it plans to spend more than 30 billion on electric vehicles and software through 2025 and establish five battery plants in Europe and North America, the latest automaker to deepen its bet on plug-in models.

The car company, formed earlier this year through the merger of Fiat Chrysler Automobiles N.V. and France’s PSA Group, also plans to get more involved with battery development and sourcing, aiming to drive down costs on one of the most expensive components for an electric car.

Stellantis intends to offer electrified options under all 14 of its brands-which include Jeep. Ram, Peugeot and Citroën-and plans to roll out electric models that have battery ranges between 300 and 500 miles, thecompany said Thursday.”Stellantis is now in full execution mode at full speed on its electrification.” said Chief Executive Carlos Tavares, during a presentation to analysts and journalists.

Mr. Tavares has made providing a clear path forward on electric vehicles a priority for the new company. On Thursday, his leadership team offered the company’s first in-depth look at how it aims to compete on electric cars with industry rivals such as General Motors Co. and the No. 2 auto maker. Volkswagen AG.Both of those companies, as well as others such as Ford Motor Co. and Hyundai Motor Co.. arc committing tens of billions of dollars to the development of batteries and new plug-in models, as tougher tailpipe-emissions regulations globally prod auto makers to pivot from their more-than-century-old model of selling gasoline-powered vehicles.

Stellantis earlier this year set its own targets for battery-powered vehicles. pledging to offer an electrified version of almost every model in its lineup by 2025. It has said that by 2030, 70% of its vehicle sales in Europe and 35% of its sales in the U.S. will be electric models-targets that analysts say are among the industry’s most ambitious. Still, Stellantis is widely seen by analysts as lagging behind many of its competitors on electric vehicles, in part because Fiat Chrysler had been slower to invest in the technology before the tie-up and its lineup is more tilted toward muscle cars and heavier trucks and sport-utility vehicles.

Executives have promoted the merger as giving both companies the scale and resources needed to compete in a sector where investment in costly new technologies, such as battery-powered cars. has become a necessity. Stellantis has said the merger is expected to deliver $6 billion in savings annually, much of which will be spent on efforts to add more plug-in models to its lineup.

Stellantis’s two biggest car markets-Europe and the U.S.-are expected to tighten regulations limiting tailpipe emissions in the coming years, putting pressure on the company to lessen its reliance on gasoline powered vehicles. Governments are also offering more incentives to get auto makers to invest in electrics.In the U.S.. President Biden has called for $174 billion in electric-vehicle-related spending, which includes fresh federal tax credits for purchasing plug-in cars and commercial trucks.Meanwhile, other car companies are increasing their bets on battery-electric technology and the marketplace is becoming more crowded, with startups such as Rivian Automotive and Lucid Motors Inc. moving closer to selling their first plug-in models. Electric-vehicle pioneer Tesla Inc. continues to expand globally and fortify its grip on the market with growing sales and new-model debuts.

GM has already increased its planned spending on electric and autonomous vehicles twice this year, raising it to $35 billion through 2025, about 30% higher than a target set last November. The increase reflects the addition of two more battery factories, on top of ones already planned for Ohio and Tennessee. Ford also has become more aggressive, unveiling in May an all-electric version of its bestselling vehicle, the F-150 truck. It plans to invest $30 billion in electric vehicles through 2025.

Stellantis needs to prove to investors the company’s ambitions are backed up by models that will be ready in the near-term and on a timeline that is on par with competitors. Jefferies analyst Philippe Houchois said.

This is particularly important in the U.S. and for the Stellantis truck lineup, which is likely to face competition from electric pickups in the works at rivals such as Ford and GM. he said. “They need to show a product that looks like it is close to production so that the market removes this feeling that they are behind the curve.” Mr. Houchois said.

How do you think has the automobile industry changed on the basis of the evolving societal trends. market trends, government regulations, innovation inside and outside the industry, and changes that have affected the cost structure of the industry? Explain. (Please explain in brief)

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with My Study Writers
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Nursing
It was a very long paper, but she followed all the instructions, and she even finished the paper 5 days before the due date. Will write an essay with her again, thanks!
Customer 452967, November 27th, 2021
Business Management
Awesome job, Thank you
Customer 453201, June 12th, 2022
Business Studies
Paper is great. Just only needed the one reference. Thank you
Customer 453139, May 4th, 2022
Economics
Nice work
Customer 453185, May 21st, 2022
Communications
Thank you so much for your attention to this assignment and timeliness.
Customer 453111, November 12th, 2022
Social Sciences
Very fast report with excellent information on the topic. Thank you for your speedy service in such a short time.
Customer 453213, June 15th, 2022
Humanities
Thank youuuu
Customer 452729, May 30th, 2021
Nursing
thank you so much
Customer 452749, June 10th, 2021
English 101
great summery in terms of the time given. it lacks a bit of clarity but otherwise perfect.
Customer 452747, June 9th, 2021
Accounting
Looks amazing!
Customer 453283, September 2nd, 2022
Human Resources Management (HRM)
My son and I have been sick for two weeks, of course at the end of my semester. I am so grateful that myhomeworkgeeks were able to help! Both papers got A's and I couldn't be more thrilled! Thank you so much and don't forget to tip your writer!
Customer 453077, February 22nd, 2022
Psychology
quick and before due date/time.
Customer 453027, January 29th, 2022
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Live ChatWhatsApp