The take rate for electric vehicles has been on a decline recently, which has caused Ford and General Motors to reduce the production speed of some of their vehicles. For General Motors, the solution is plug-in hybrids; for Ford, it’s bumping up production for the Ford Bronco and Ranger. But up until recently, there wasn’t much in the way of what Stellantis had planned to combat the current state of the automotive market, until now. Stellantis CEO Carlos Tavares has stated that the company won’t slow down its EV plans but will remain adaptable to whatever scenarios may occur.
Stellantis EV Production Plan: Details
This year is set to be a big one in terms of change as the United States is set to face a Presidential election, and European parliamentary elections are also taking place this year, which could alter the course of EV adoption. According to Mopar Insiders, Stellantis will remain vigilant while it awaits the results of the upcoming elections, and Tavares has expressed confidence in Stellantis‘s commitment to its EV plans. He has revealed that two scenarios will result from these elections: either an acceleration of EV adoption or a potential slowdown in the push toward BEVs.
Stellantis continues to actively execute its EV strategy with plans to invest over $33 billion through 2025 in electrification and software, including fast charge capability for its vehicles. Tavares did clarify that Stellantis will maintain its current suite of EV products, production capacity, and timing while monitoring the election outcomes. In other words, things won’t slow until an official verdict is made on EV adoption.
In North America, we’re still waiting on the release of the Dodge Charger Daytona EV, the Ram 1500 REV, the Jeep Recon, and the Jeep Wagoneer S EV. Since those full EV products have yet to arrive, it makes sense that Stellantis won’t be altering its plans or production for its EV products. Coming in behind the competition continues to be a winning strategy for the company and its brands.