June 1 (Reuters) – Stellantis (STLAM.MI) will invest 160 million euros ($176.13 million) at its Rennes plant to launch a 100% electric compact Sports Utility Vehicle (SUV) in 2025, the Franco-Italian-American car manufacturer said on Thursday.
Stellantis will use the investment to set up a battery assembly workshop as well as one dedicated to plastic injection moulding, it said in a statement, adding the vehicle’s launch will happen on the future STLA Medium platform.
Stellantis, which like many carmakers is shifting towards producing more environmentally-friendly vehicles, plans to sell only electric cars in Europe by 2030.
The car, code-named CR3, will succeed the current C5 Aircross with petrol, diesel and hybrid engines.
Asked whether the new vehicle would be available as anything other than a 100% electric model, CEO Carlos Tavares told the press: “In principle no”.
($1 = 0.9084 euros)
(This story has been refiled to correct the title of CEO Carlos Tavares in the last paragraph)
