On Tuesday, Stellantis (STLAM.MI) CEO Carlos Tavares said the business needs one or two more major US battery factories to meet its manufacturing ambitions.
Tavares told journalists at the opening a gigafactory in northern France that the Franco-Italian manufacturer would need more such operations in North America, where it has already confirmed two sites.
Tavares noted that the U.S. Inflation Reduction Act had generated “very favourable” investment circumstances.
Stellantis, which owns Fiat and Peugeot, aims to produce 400 gigawatt-hours (GWh) of battery cells by 2030.
It has announced a factory in Canada, one in Indiana, and three European gigafactories with 120 GWh capacity.
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