Stellantis Closing Plant, Needs $ for EV Development

Mary Barra started GM's belt tightening years ago to help fund it's massive EV push. She closed all overseas money losers (all where except China), and closed some excess capacity in the US as well.

It looks like Stellantis joins Ford in being slower to react and both are now trying to come up with development dollars. Ford recently shut down it's autonomous vehicle efforts to help free up the money for its EV efforst and Stellantis is now closing a Jeep Cherokee SUV plant in Illinois to raise EV money.

the most impactful challenge is the increasing cost related to the electrification of the automotive market."

Stellantis has said it will invest over 30 billion euros ($31.6 billion) through 2025 on electrifying its vehicle lineup. It also has said it expects EVs to make up 100% of its sales in Europe and 50% in the United States by 2030.

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