EVs take a backseat in Stellantis’ $13B US investment plan

Stellantis, the multinational automotive manufacturer, has announced a $13 billion investment plan for its operations in the United States. The focus of this investment, however, is not on electric vehicles (EVs), but rather on the development and production of five new vehicles and a four-cylinder engine. The investment will be distributed across Stellantis' factories in Illinois, Ohio, Michigan, and Indiana, with the aim of expanding its production capacity and capabilities in the region. While the company's commitment to investing in its US operations is notable, the lack of emphasis on EVs may raise concerns about its long-term strategy in the face of the growing shift towards electric mobility. The decision to prioritize traditional internal combustion engine vehicles could be interpreted as a sign that Stellantis is still cautious about the pace of the EV transition or believes that there is still a strong demand for conventional vehicles in the US market. Nonetheless, the company's investment in its US factories is likely to have significant implications for the automotive industry and the regional economy.