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Stellantis (STLA) To Invest $176 Million On A Factory In Rennes France
Chrysler, Dodge parent company, Stellantis (STLA) revealed last week that the Franco-Italian-American car manufacturer 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 automaker said in a statement that they will use the investment to set up a battery assembly workshop as well as one dedicated to plastic injection molding, adding the vehicle’s launch will happen on the future STLA Medium platform.
Limited details are known about the EV that will be built at the site but Stellantis has confirmed it will be underpinned by its STLA Medium platform and current reports indicate that it will be a replacement for the Citroen C5 Aircross. “The allocation to the site is the direct consequence of their seriousness and involvement in manufacturing quality… Rennes will be a compact and efficient site, its agility allows it to engage in bold projects (while working) in favor of the environment,” Stellantis chief executive Carlos Tavares said of the investments.
It’s worth noting that the giant automotive group also owns Opel and Vauxhall, both of which manufacture the Grandland compact SUV which is currently based on the same platform as the Peugeot and Citroen models. These two models will also be replaced by an all-electric successor based on the STLA Medium platform which is set to be produced at the group’s plant in Eisenach, Germany, and scheduled to debut next year.
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