Stellantis to Invest Over $406 Million in Michigan for EV, Hybrid Vehicles, Including Ram 1500 REV, Jeep Wagoneer

Sep 11, 2024, 01:22 PM

Stellantis announced a significant investment of over $406 million in three Michigan facilities to support the development of electric and hybrid vehicles. The investment will be directed towards revamping plants to produce models such as the electric Ram 1500 REV and Jeep Wagoneer. Stellantis aims to launch the fully electric Ram 1500 by late 2024. This move is part of the company's broader strategy to enhance its EV, hybrid push and compete with other major players in the EV market. Stellantis said on Wednesday that this investment is crucial for its future growth.