- Stellantis NV STLA expects to be equipped with the essential technologies to develop ethanol hybrid vehicles in Brazil.
- The car maker's South America head, Antonio Filosa, reportedly said Minas Gerais state in Brazil could be the epicenter of the company's ethanol hybrid cars.
- The move is aimed at accelerating the push toward sustainability, Reuters reported.
- "We launched the Bio-Electro project last year and now we are going to work internally to have the first technologies developed in-house by the end of this year, and then launch them to the market when it is opportune," the report cited Antonio Filosa.
- Also Read: Stellantis, Terrafame Ink Agreement For Low-Carbon Nickel Sulphate Supply
- Brazil President Luiz Inacio Lula da Silva has also said that the economy would be based on finding clean energy alternatives under his tenure.
- Also See: Stellantis Inks Battery Materials Supply Deal With Element 25; Plans To Make Equity Investment
- Price Action: STLA shares are trading higher by 0.38% at $15.78 in premarket on the last check Wednesday.
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