Stellantis

Carmaker Stellantis on Tuesday said it was suspending production at its Russian plant due to logistical difficulties and sanctions imposed on Moscow. The world’s fourth-largest automaker, which produced and sold the Peugeot, Citroёn, Opel, Jeep, and Fiat brands in Russia, has just 1% of the country’s car market.It runs a van-making plant in Kaluga, around 125 miles (201 kilometres) southeast of Moscow, co-owned with Japanese carmaker Mitsubishi (7211.T), which halted production at the facility earlier this month. “Given…

Canadian Prime Minister Justin Trudeau announced a new federal investment in project funding for automaker Stellantis that will modernize assembly plants and increase the production of electric vehicles (EV).According to a statement from Trudeau’s office, the government is investing up to C$529 million ($423 million) into this project, reports Xinhua news agency.Ontario province is also supporting the project with an investment of up to C$513 million.“We’re building a world-class Canadian auto industry for generations to…

Automaker Stellantis said Monday it will invest $3.6 billion Canadian dollars ($2.8 billion) to upgrade two Canadian assembly plants and expand a research center as it accelerates its long-term electrification strategy. Combined with its March announcement of a joint venture battery plant with LG Energy Solution, the new investment gives Stellantis an overall investment in Ontario of…