Stellantis Plans To Develop Ethanol Hybrid Vehicles In South America: Report

  • 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 ReadStellantis, 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.
  • Photo Via Company
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