By Mauro Orru


Stellantis said it plans to pour 5.6 billion euros ($6.08 billion) in South America in the second half of the decade, calling the investment the largest in the history of the region's automotive industry.

The maker of the Jeep and Dodge brands said Wednesday that the investment would support the launch of more than 40 new products from 2025 to 2030, the development of new technology and its pursuit of business opportunities in the region.

"This announcement solidifies our trust and commitment in the future of the South American automotive industry and is a response to the favorable business environment here," said Chief Executive Carlos Tavares.

Last year, Stellantis's sales in the region surpassed 878,000 vehicles, handing it a 23.5% market share.

The auto maker, formed by the combination of Fiat Chrysler and Peugeot maker PSA Group, said it plans to invest in so-called bio-hybrid technologies that combine electrification with hybrid engines powered by biofuels.


Write to Mauro Orru at mauro.orru@wsj.com


(END) Dow Jones Newswires

03-06-24 1206ET