MILAN : Stellantis said on Tuesday it will invest a total of $155 million in three plants located in Kokomo, Indiana, to produce new electric drive modules (EDM) that will be fitted in electric vehicles which the carmaker will assemble in North America.Production is expected to start in the third quarter
MILAN : Stellantis said on Tuesday it will invest a total of $155 million in three plants located in Kokomo, Indiana, to produce new electric drive modules that will be fitted in electric vehicles which the carmaker will assemble in North America."With the investment, more than 265 jobs will be retained across all three plants," it said.
Stellantis aims to have battery electric vehicles account for 50 per cent of its sales in the U.S. by 2030. It has plans for more than 25 BEV launches in the country by then. The EDMs to be produced in Kokomo will be integrated into vehicles designed on two of the new platforms the group will launch, 'STLA Large' and 'STLA Frame', Stellantis said in a statement.
Stellantis was created through the $52 billion merger of Fiat Chrysler and Peugeot maker PSA in 2021.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
French football bracing itself for Black TuesdayPARIS : French football is bracing itself for a major shakedown as both the president of the federation (FFF) and the women's head coach are expected to resign from their positions on Tuesday.Noel Le Graet, who has been head of the FFF since 2011, has already taken a step back amid a legal investigation i
Read more »
Japan's Rapidus to unveil chip plant location on Tuesday -local govtTOKYO :The head of Japan's state-backed chip venture Rapidus will visit the northern island of Hokkaido on Tuesday to inform Governor Naomichi Suzuki of its decision regarding the location of a planned semiconductor plant, the local government said. Suzuki visited Rapidus President Atsuyoshi Koike this month
Read more »
Armani at the heart of new documentary examining the birth of Milan fashionThe documentary Milano: The Inside Story Of Italian Fashion by Emmy-winning filmmaker John Maggio also recounted the competition between Armani and Gianni Versace.
Read more »
Armani gives graceful close to Milan Fashion WeekIt was nipples out on the Milan Fashion Week runway this season, one of the clear trends emerging from a week of previews of mostly womenswear collections for next fall and winter. Wherever there is a trend, there is always the counter-current, and holding out for what he described as “the dignity of wom
Read more »
Milan seal 2-0 win over AtalantaMILAN : Champions AC Milan beat visitors Atalanta 2-0 in Serie A on Sunday, consolidating their position in the top four as they extended their winning streak to three league outings.Milan took the lead in the 25th minute through an own goal by Atalanta goalkeeper Juan Musso, after the ball went in off hi
Read more »