Stellantis is the latest automotive giant to signal that it has no intention of abandoning petrol-powered cars any time soon. The automotive conglomerate, which owns 14 brands, is spending the equivalent of $6 billion in South America on new engines and vehicles.
Touted as the largest investment ever in South America's automotive sector, the spending will support the launch of more than 40 cars and the development of flex-fuel engines designed to run on petrol and ethanol.
Stellantis also plans to develop hybrid-flex and plug-in hybrid-flex vehicles that combine the versatile internal combustion engine with a battery for even greater efficiency. In addition, at least one fully electric car will be produced in the region. The investments will be made between 2025 and 2030.
These electrified flex-fuel engines will be developed to support multiple models across Stellantis' extensive portfolio. They will also be compatible with existing production lines in South America to keep costs down. New flex-fuel hybrid models will be launched in late 2024 and some vehicles will be equipped with a dual-clutch automatic transmission.
Earlier this month, Toyota also demonstrated its long-term commitment to internal combustion engines by announcing that it has begun development of a new family of powertrains.
Source: Stellantis
