Bloomberg Says Stellantis Is Looking To Make Major Investment In Mexico Soon!

Stellantis could be looking to make an announcement soon about a huge investment in one of the company’s assembly plants in Mexico to build future hybrid electric vehicles (HEVs) and battery-electric vehicles (BEVs).

In an article posted by Bloomberg, sources that asked not to be named stated that the company is evaluating an investment of multi-billions of dollars over the coming years. According to the unknown source, the plans haven’t been finalized and could still change.

“We invest regularly in plants all around the world to upgrade in terms of process, vehicle production or adapt to electrification as part of our $35 billion investment in electrification and software announced during our EV Day one year ago,” Shawn Morgan, Stellantis spokeswoman, told Bloomberg in an e-mail response.

Back in July, Mexican President Andres Manuel Lopez Obrador, Finance Minister Rogelio Ramirez de la O, and Economy Minister Tatiana Clouthier met with members of Stellantis’ management, including CEO Carlos Tavares, to discuss electrified vehicles and a “desire to strengthen the company’s supply chain in Mexico”.

One of the issues that arose for Stellantis, has been to acquire an adequate supply of electricity for its plant. President Lopez Obrador has made a move to prioritize the state-owned electricity supplier at the expense of private and foreign companies have sparked protests from companies. Both the United States and Canada, called for talks with the Mexican government last month, to discuss that the country’s current policies could violate the 2020 USMCA free-trade agreement.

Tuvimos una productiva reunión con la empresa automotriz #FCA, con quien discutimos ruta hacia la electromovilidad y ganas de fortalecer su cadena de proveduría en el país. pic.twitter.com/h2qUP4qzSt

— Tatiana Clouthier (@tatclouthier) July 20, 2022

Following last month’s meeting with Stellantis, Secretary of Economy Tatiana Clouthier tweeted, “We had a productive meeting with the automotive company #FCA, with whom we discussed the route towards electromobility and the desire to strengthen its supply chain in the country”.

Stellantis North America currently operates three assembly facilities in Mexico.

• Saltillo Truck Assembly Plant – Ram 1500 Classic (DS), Ram 2500 (DJ), Ram 3500 (D2), Ram 3500 Chassis Cab (DD), Ram 3500 10K Chassis Cab (DF), Ram 4500/5500 Chassis Cab (DP), and Ram 4000 Chassis Cab (DX)
• Saltillo Van Assembly Plant – Ram ProMaster 1500/2500/3500 (VF)
• Toluca Assembly Plant – Jeep® Compass (MP) 

Source: Bloomberg