Stellantis to invest 160 million euros to launch all-electric SUV in 2025

(Reuters) – Stellantis will invest 160 million euros ($176.13 million) at its Rennes plant to launch a 100% electric compact Sports Utility Vehicle (SUV) in 2025, the Franco-Italian-American car manufacturer said on Thursday.

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FILE PHOTO: The logo of Stellantis is seen on a company’s building in Velizy-Villacoublay near Paris

Stellantis will use the investment to set up a battery assembly workshop as well as one dedicated to plastic injection moulding, it said in a statement, adding the vehicle’s launch will happen on the future STLA Medium platform.

Stellantis, which like many carmakers is shifting towards producing more environmentally-friendly vehicles, plans to sell only electric cars in Europe by 2030.

The car, code-named CR3, will succeed the current C5 Aircross with petrol, diesel and hybrid engines.

Asked whether the new vehicle would be available as anything other than a 100% electric model, CEO Carlos Tavares told the press: “In principle no”.

(This story has been refiled to correct the title of CEO Carlos Tavares in the last paragraph)

($1 = 0.9084 euros)

(Reporting by Gilles Guillaume; Writing by Olivier Sorgho; Edited by Kirsten Donovan)

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