From Jeep to Maserati, Stellantis to roll out 10 new EV models in 2021

2021 Jeep Wrangler Rubicon 4xe

Fiat Chrysler

Stellantis — the product of a $52 billion merger between automakers Fiat Chrysler and Groupe PSA — plans to supply an array of all-electric or hybrid autos via 2025, together with 10 new models in 2021, in accordance to CEO Carlos Tavares.

From Dodge to Maserati, each new mannequin the corporate launches from now till 2025 will supply an “electrified” variant. He didn’t specify what number of could be all-electric, plug-in hybrids or conventional hybrids that do not want to be plugged in.

The new models and merger, which was accomplished Saturday, come as legacy automakers are struggling to persuade Wall Street that they will compete towards Tesla and a number of new EV start-ups.

As Stellantis shares jumped greater than 11% throughout their Tuesday debut on the New York Stock Exchange, start-up EV truck producer Rivian stated it raised $2.65 billion in its newest funding spherical, which valued the firm at $27.6 billion. Stellantis — now the world’s fourth-largest automaker — is valued at about $26.5 billion.

Cruise, a majority-owned subsidiary of General Motors, additionally introduced a new $2 billion funding spherical Tuesday that included Microsoft and GM. The self-driving firm stated its post-money valuation is $30 billion, up from $19 billion in mid-2019.

Tavares described the tie-up to create Stellantis as a transfer to develop scale and share the billions of {dollars} in capital prices wanted for applied sciences akin to autonomous and electrical autos.

“This cost is going to increase significantly,” Tavares stated throughout a media name Tuesday. “We see the merit of the scale here to dilute those costs.”

Through its 14 manufacturers, which incorporates Jeep and Alfa Romeo, Stellantis presently has 29 electrified models on sale globally, in accordance to Tavares. In the U.S., they vary from the all-electric Fiat 500e to a plug-in hybrid Chrysler Pacifica minivan and the Ram 1500 pickup with a light hybrid system. The latter two choices embody a standard inside combustion engine.

The automaker’s coveted Jeep model additionally has promised to electrify its whole lineup going ahead, together with the lately launched Wrangler SUV and a redesigned model of the Grand Cherokee SUV later this 12 months.

“We are in the right dynamics, we are perfectly on the right timing for the market expectations,” Tavares stated. “Of course, the real challenge is not anymore about having electrified models, the real challenge is to make those models affordable.”

Stellantis’ plan to supply an array of electrified autos differs from different automakers, akin to GM, which are specializing in EVs as a substitute of hybrids. GM plans to spend $27 billion on electrical and autonomous autos via 2025, together with 30 new EVs.

Stellantis’ operations, together with 400,000 staff, are largely primarily based in North America and Europe.

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