AMSTERDAM—Stellantis N.V., the parent of multiple auto brands ranging from Alfa Romeo sports cars to Ram pickup trucks, plans to invest 30 billion euros over the next four years to boost its electric vehicle initiative.

“[We] intend to become the market leader in low-emission vehicles (LEVs),” says Carlos Tavares, CEO of Stellantis. “Through 2030, [our] LEV mix for passenger cars in Europe is targeted to steadily grow to over 70 percent—10 percentage points ahead of current industry assumptions for overall market mix.”

In the United States, Stellantis’ LEV mix for passenger cars and light-duty trucks is expected to be more than 40 percent by 2030.

“The customer is always at the heart of Stellantis and our commitment with this investment plan is to offer iconic vehicles that have the performance, capability, style, comfort and electric range that fit seamlessly into their daily lives,” explains Tavares. “The strategy we laid out today focuses the right amount of investment on the right technology to reach the market at the right time….”

The Stellantis electrification initiative encompasses the entire value chain. The company’s EV battery sourcing strategy is to secure more than 130 gigawatt hours (GWh) of capacity by 2025 and more than 260 GWh by 2030. The EV battery and component needs will be met with a total of five gigafactories in Europe and North America.

In addition to sourcing strategies, Tavares claims that Stellantis’ technical expertise and manufacturing synergies will drive battery costs lower. He says the company’s EV battery pack costs will be reduced by more than 40 percent by 2024 and by more than an additional 20 percent by 2030.

Affordability is a key part of Stellantis’ strategy, with the company aiming to make the total cost of ownership of EVs equivalent to internal combustion engine vehicles by 2026.

“Electrification is not a one size fits all plan at Stellantis,” says Tavares. “Each of [our] 14 iconic brands is committed to offering best-in-class fully electrified solutions and doing so in a way that enhances the DNA of each brand.

“Four BEV-centric platforms are the backbone of the electrified vehicles from Stellantis brands,” notes Tavares. “[They] are designed with a high level of flexibility (length and width) and component sharing, delivering economies of scale, as each platform can support production of up to 2 million units per year.

“Our electrification journey is quite possibly the most important brick to lay as we start to reveal the future of Stellantis just six months after its birth,” adds Tavares. “Now, the entire company is in full execution mode to exceed every customer’s expectations and accelerate our role in redefining the way the world moves.

“We have the scale, the skills, the spirit and the sustainability to achieve double-digit adjusted operating income margins, lead the industry with benchmark efficiencies and deliver electrified vehicles that ignite passion,” claims Tavares.