Stellantis Allocates $406 Million for Michigan Facilities to Boost EV Production-February 2024-www.financetom.com

Stellantis Allocates $406 Million for Michigan Facilities to Boost EV Production

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Stellantis Allocates $406 Million for Michigan Facilities to Boost EV Production

Sep 11, 2024 9:49 AM

09:01 AM EDT, 09/11/2024 (MT Newswires) -- Stellantis ( STLA ) said Wednesday it plans to invest over $406 million in three of its facilities in Michigan to boost their EV production capacities.

The Sterling Heights Assembly Plant will get an investment of $235.5 million as it is expected to produce Stellantis' ( STLA ) first US plant to build a fully electric vehicle, the 2025 Ram 1500 REV light-duty truck, the carmaker said.

The Warren Truck Assembly Plant will be backed with $97.6 million for future production of an electrified Jeep Wagoneer, which is one of four Jeep EVs that the brand is expected to launch before the end of 2025, according to Stellantis ( STLA ).

Stellantis ( STLA ) added that the Dundee Engine Plant will get at least $73 million to be retooled to produce the frame and other components of the carmaker's EV architecture.

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