According to Reuters, on September 6, Emanuele Cappellano, head of South American operations of automaker Stellantis, said that the company will invest US$385 million in its factory in Cordoba, Argentina between 2025 and 2030.
Photo source: Stellantis, according to Stellantis’s plan, the company will invest 5.
6 billion euros (approximately US$6.
22 billion) in the South American market between 2025 and 2030.
Cappelano said Stellantis ‘$385 million investment in Argentina’s plant was part of the plan and would be used to build a new car and engine production line, but did not provide further details.
At the Stellantis South American Market News Communication Online Conference, Cappellano also provided an update on the company’s first hybrid models to be launched in Brazil, saying that the company expects to launch two hybrid vehicles in Brazil this year.
In early 2023, Antonio Filosa, then head of Stellantis’s South America region, said that the company expected to obtain the technology needed to develop ethanol hybrid vehicles in Brazil by the end of that year.
Filosa said at the time that Brazil’s Minas Gerais state would become the development center of Stellantis ethanol hybrid vehicles.
On September 4, Stellantis competitor General Motors also announced that it would start production of its first hybrid vehicle in Brazil.
Reuters reported that automakers are increasingly interested in producing hybrid vehicles in Brazil because the country has a huge ethanol industry and most cars can use 100% biofuels made from sugar cane or corn.
Brazilian President Luiz Inacio Lula da Silva has said that under his leadership, the country’s economy will be based on “finding clean energy alternatives.
“, Return to the first electric network home page>,.
