Advertisement
Canada markets closed

  • S&P/TSX

    22,059.03
    -184.99 (-0.83%)
     

  • S&P 500

    5,567.19
    +30.17 (+0.54%)
     

  • DOW

    39,375.87
    +67.87 (+0.17%)
     

  • CAD/USD

    0.7332
    -0.0015 (-0.20%)
     

  • CRUDE OIL

    83.44
    -0.44 (-0.52%)
     

  • Bitcoin CAD

    79,435.90
    +1,985.21 (+2.56%)
     

  • CMC Crypto 200

    1,206.40
    -2.29 (-0.19%)
     

  • GOLD FUTURES

    2,399.80
    +30.40 (+1.28%)
     

  • RUSSELL 2000

    2,026.73
    -9.90 (-0.49%)
     

  • 10-Yr Bond

    4.2720
    -0.0830 (-1.91%)
     

  • NASDAQ

    18,352.76
    +164.46 (+0.90%)
     

  • VOLATILITY

    12.48
    +0.22 (+1.79%)
     

  • FTSE

    8,203.93
    -37.33 (-0.45%)
     

  • NIKKEI 225

    40,912.37
    -1.28 (-0.00%)
     

  • CAD/EUR

    0.6762
    -0.0030 (-0.44%)
     

Stellantis' Portugal plant to produce large series fully battery electric compact vans

Reuters
·1 min read
The logo of Stellantis at the entrance of the company's factory in Hordain

(Reuters) - Carmaker Stellantis NV said on Friday its Portugal plant would become the first assembly plant in the country to produce large series fully battery electric compact vans by 2025.

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, 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 Inc.

Stellantis was created through the $52 billion merger of Fiat Chrysler and Peugeot maker PSA in 2021.

($1 = 0.9223 euros)

(Reporting by Chandni Shah and Maria Ponnezhath in Bengaluru; Editing by Sandra Maler)