This investment is aimed at supporting Stellantis' multi-energy strategy and enhancing its competitive advantages in various electrification scenarios. The company's strategic plan, Dare Forward 2030, focuses on delivering innovative and sustainable mobility solutions.

The Sterling Heights Assembly Plant (SHAP) will play a crucial role in Stellantis' electric vehicle (EV) production, making it the first U.S. plant to produce a fully electric vehicle. SHAP will facilitate the upcoming launches of the Ram 1500 in battery electric and range-extended electric variants, alongside traditional internal combustion engine models. The accelerated retooling process at the plant will enable the production of these electrified Ram models.

Additionally, the Warren Truck Assembly Plant (WTAP) will undergo retooling to produce future electrified Jeep® Wagoneer models alongside its existing production of internal combustion engine vehicles. This strategic investment of around $97.6 million will further cement WTAP's role in supporting Stellantis' multi-energy approach.

Furthermore, the Dundee Engine Plant (DEP) will receive an investment of more than $73 million to support battery tray production and beam machining for the STLA Frame and STLA Large batteries. This investment aligns with Stellantis' commitment to developing cutting-edge electrification technologies and enhancing its manufacturing capabilities.

Carlos Tavares, CEO of Stellantis, expressed his gratitude to the teams involved in the transformation of the Sterling Heights Assembly Plant, acknowledging their impressive achievements. Tavares highlighted the significance of building the first-ever Ram electric truck in Michigan, which serves as a proud moment for the teams. He emphasized that these investments in both the Jeep and Ram brands will cater to customer demands and reinforce Stellantis' commitment to a multi-energy future.

The company's multi-energy approach encompasses various elements, including products, platforms, manufacturing, and supply chain, enabling Stellantis to adapt to different electrification adoption scenarios. With an investment of $235.5 million, SHAP will produce the Ram 1500 REV, the company's first battery-electric light-duty truck, set to launch in late 2024. The plant will also manufacture the all-new range-extended 2025 Ram 1500 Ramcharger.

The Ram 1500 REV is built on the STLA Frame architecture, designed specifically for full-size electric vehicles. Its advanced materials make the frame lightweight, yet durable and rigid. The truck will offer an impressive range of up to 500 miles with the optional 229 kilowatt-hour battery pack. Meanwhile, the 2025 Ram 1500 Ramcharger will boast a powerful 663-horsepower engine, 615 lb.-ft of torque, and bi-directional charging capabilities.

Stellantis' investment of over $73 million at the Dundee Engine Plant reflects its commitment to advanced battery technology. The components manufactured at DEP will support the STLA Frame architecture's battery tray assembly and the machining of front and rear beams for the STLA Large architecture. These additions will work alongside the upcoming GME-T4 EVO and a new 1.6-liter, I-4 turbocharged engine, providing flexibility for hybrid-electric vehicle applications.

Stellantis continues to prioritize electrification, aiming to achieve a 100% passenger car battery-electric vehicle (BEV) sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. Through strategic investments and securing battery capacity, Stellantis is on track to becoming a carbon net-zero corporation by 2038.

By making these significant investments in Michigan, Stellantis is demonstrating its commitment to being at the forefront of the automotive industry's transition toward sustainable and electrified mobility solutions.