Stellantis Eyes €160M Investment In Rennes Plant To Launch Electric SUVs In 2025: Report

June 1, 2023 12:16 PM | 1 min read |

Stellantis N.V. STLA will reportedly invest €160 million at its Rennes plant to launch a 100% electric compact Sports Utility Vehicle (SUV) in 2025.
The investment will be used to establish a battery-assembly workshop, Reuters reported, citing a statement from CEO Carlos Tavares.
The car, which "in principle" will be run solely by electricity, is code-named CR3. It will reportedly succeed the current C5 Aircross with petrol, diesel, and hybrid engines.
Also Read: Stellantis Unveils First Battery-Electric Light-Duty Pickup Truck From Ram Truck At New York Auto Show
Going ahead, the vehicle's launch will happen on the future STLA Medium platform.
Price Action: STLA shares are trading higher by 1.27% at $15.49 on the last check Thursday.