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Benzinga
Benzinga
Business
Shivani Kumaresan

Stellantis Ramps Up Canadian Operations To Support Electrification Plans

Stellantis STLA ARDC Stellantis NV Brampton Ontario Windsor Architecture Canada North America
  • Stellantis NV (NYSE:STLA) plans to invest C$3.6 billion ($2.8 billion) in its Windsor and Brampton (Ontario) Assembly Plants and to expand its Automotive Research and Development Centre (ARDC).
  • The move supports Stellantis' strategy to invest C$45 billion ($35 billion) through 2025 in electrification and software globally.
  • The investment brings the company's total investment in Canada to C$8.6 billion, including the recently announced Stellantis-LG Energy Solutions EV battery plant.
  • Windsor Assembly will add all-new, flexible multi-energy vehicle architecture to the current product portfolio. Brampton Assembly will build at least one all-new electric model. 
  • In addition, STLA expects both Ontario assembly plants to return to three-shift operations.
  • Stellantis noted ARDC would house its first battery lab in North America and support growth in electrification.
  • Price Action: STLA shares are trading lower by 0.19% at $13.33 on the last check Monday.
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