Stellantis Announces 60 Billion Euro Investment Plan Through 2030

Stellantis said Thursday it will invest 60 billion euros under a new five-year plan that includes launching more than 60 new vehicles and refreshing 50 existing models. The company will allocate 36 billion euros to its portfolio of automotive brands and 24 billion euros to global vehicle platforms and new technologies.

The plan covers all-electric vehicles, hybrids, and internal combustion engines.

Stellantis also said it aims for annual cost savings of 6 billion euros by 2028 and positive free cash flow the same year. 3 billion euros last year that included a 22 billion euro restructuring away from all-electric vehicles.

It will fold operations of its DS and Lancia European units into Citroen and Fiat, respectively. Fiat is one of four designated global brands alongside Jeep, Ram Trucks, and Peugeot. Regional brands include Chrysler, Dodge, Citroen, Opel, and Alfa Romeo.

The company also owns luxury brand Maserati. Stellantis CEO Antonio Filosa, who began leading the automaker less than a year ago, is scheduled to present further details of the "FaSTLAne 2030" plan Thursday at the company's North American headquarters near Detroit.