PARIS (Reuters) - European carmaker Stellantis on Wednesday announced a 5-year investment plan for Latin America, with total planned investments amounting to 5.6 billion euros from 2025 to 2030.

The carmaker said the plan marks the "largest investment in the history of the Brazilian and South American automotive industry", adding that it planned to launch over 40 new products by 2030.

"South America will take a leading role in accelerating the decarbonization of mobility" Chief Executive Carlos Tavares said in a press release.