Newly-created automotive group Stellantis will offer electrified versions of almost all of its European line-up by 2025, as the industry faces regulatory pushes in Europe and China to accelerate the shift to zero-emission cars.
Formed in January by the merger of Fiat Chrysler Automobiles and PSA Group, Stellantis has 14 brands including Jeep, Peugeot, Opel, Ram and Maserati, and like its peers faces an investor community keen for a road map to an electric line-up to rival Tesla.
Speaking during Stellantis' first annual meeting on Thursday, CEO Carlos Tavares said that in 2021 the automaker expects sales of electrified vehicles -- both plug-in hybrid cars and full-electric models -- to more than triple to over 400,000 units in 2021.
By 2025, electrified vehicles should make up 38 percent of European sales, a huge jump from the 14 percent of sales it expects in 2021.
By 2030 electrified models should make up 70 percent of European sales and 35 percent of U.S. sales, he said.
Stellantis will use four electrified platforms for passenger vehicles across the 14-brand group -- small, medium and large sizes for cars, and "frame" for high-margin SUVs and pickup trucks, Tavares said.
The automaker could make a decision to develop additional battery factories in Europe and North America this year. The company hopes to secure 250 gigawatt-hours of battery capacity by the end of the decade, according to a presentation.
The company has already announced two battery cell factories in Europe. The first in Douvrin, France, will begin production in 2023. The second in Kaiserslautern, Germany, will follow in 2025. Initial cell production in Europe will be 50 GWh of battery cells a year, according to the presentation.
Stellantis will brief investors further on its strategy for EVs, battery supplies and related technology on July 8.
Sales of electric and plug-in hybrid cars in the European Union almost trebled to over 1 million vehicles last year, accounting for more than 10 percent of overall sales.
Bloomberg contributed to this report