STELLANTIS: 98% OF MODELS TO BE ELECTRIC OR HYBRID BY 2025

Stellantis is a little late to the global electric vehicle party, but on Thursday it pledged to catch up and pass its competitors.

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CEO Carlos Tavares says that by 2025, 98% of its models in Europe and North America will have fully electric or plug-in gas-electric hybrid versions. He says the company that combined Fiat Chrysler and Peugeot is developing four fully electric vehicle platforms with ranges from 500 kilometers (311 miles) to 800 kilometers (497 miles).

It also will have three electric drive modules to power all of its vehicles, and Stellantis will take advantage of its scale to reduce electric vehicle costs. The company expects to reduce battery costs by more than 40% from 2020 to 2024 with two new battery chemistries. It plans to introduce solid-state battery technology by 2026 that can store more energy than current versions.