Automotive giant Stellantis will invest more than €1 billion to manufacture its next generation of electric vehicles at its Mulhouse plant in eastern France, French President Emmanuel Macron announced on Tuesday.
Production under the new investment framework is scheduled to begin in 2029, News.Az reports, citing Reuters.
The massive financial commitment follows a broader €60 billion ($69.85 billion) global strategy unveiled by Stellantis last week.
Faced with aggressive international competition, the automaker is launching a massive blitz of 60 new products alongside a major consolidation of its vehicle platforms to accelerate and streamline its transition toward full electrification.
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