Flag with the Stellantis logo on the front entrance of FCA’s Mirafiori factory on January 18, 2021 in Turin, Italy.
Stefano Guidi | Getty Images
Car giant Stellantis will invest about $ 2.8 billion to renovate two factories in Ontario to build electric and hybrid vehicles, the company said Monday, the latest installment in its plan to invest a total of $ 35 billion in electrification and related software initiatives around in the world.
The renewal will allow the automaker to build hybrid and fully electric versions of several of its upcoming models using new “multi-energy” architectures. The company will also add a battery lab to its existing research and development facility in Windsor, creating 650 new jobs.
Retooling of the company’s Windsor, Ontario, assembly plant is expected to begin in 2023, with a renewal and modernization of another plant, in Brampton, Ontario, to follow in 2024. Both factories will be up and running again in 2025.
The investments announced on Monday are part of a broader electrification review unveiled earlier this year. Stellantis aims to sell 5 million electric cars annually by 2030, which will include a total of all the vehicles it sells in Europe and half of the passenger cars and light trucks it sells in North America.
Most global automakers have announced similar investment plans as they move to compete in the electric car market currently dominated by Tesla.
Stellantis did not say which models the refurbished factories will build, though they said they expect both factories to add a third shift after the overhauls, meaning they will be working almost around the clock.
The Windsor plant is currently building Chrysler Pacifica, Pacifica Hybrid and Voyager minivans; The Brampton plant builds the Chrysler 300 and Dodge Charger sedans and Dodge Challenger coupe.
Stellantis and Korean battery giant LG Energy Solution announced in March that they will spend a total of $ 4.1 billion on building a large electric battery factory in Windsor. That investment is expected to create 2,500 new jobs, companies said at the time.