The automotive Stellantis will at least invest 500 million dollars in the next two years in Argentina, both for the launch of new models and for projects not directly linked to the sector, such as mining and clean energy.
This was reported to Clarín by sources from the company born from the merger between Fiat Chrysler and Peugeot and which in Argentina controls the Fiat factories in Córdoba and Peugeot in El Palomar. One of these investments, already underway but not yet confirmed, would be the Argentine version of Peugeot2008.
“In a few days the regional manager of Stellantis will come to the country, Emanuele Cappellano, to make official announcements. But investments are already being made in Argentina because of these announcements,” a company source said.
Very little is known about these projects, except that the amount far exceeds what automotive companies have invested in Argentina in recent years. The latest outlay of this magnitude was the launch of the new Ford Ranger, announced in 2020, which required 660 million dollars.
This week Stellantis announced an investment of 6 billion dollars in the region for the period 2025-2030, focusing mainly on Brazilwhere he will focus on the launch of 40 vehicles, both new and new versions, with different hybrid technologies, from conventional ones to those using alconafta. He also confirmed that Stellantis is also making investments another $3 billion until the end of this year.
The announcement came with great fanfare, as it is the most ambitious investment to date by an automaker in the region: Stellantis global CEO, Carlo Tavaresmet the president Lula Silva to bring you details about the automaker’s plans in the region.
However, the executive did not provide any concrete clues as to which models they will launch in the future. Nor did he provide details on how much of that million-dollar amount will go to each country (though he clarified that most of that $9 billion) will be destined for the Stellantis factories in Brazil).
Almost at the same time, albeit informally, company sources in Argentina assured that it was the local branch will receive at least $500 million of this package during the two-year period 2024-2025.
“It will only be the first stretch,” the sources add. And they have announced that the ongoing investments concern both new car models and other types of activities, such as mining, marketing of spare parts and clean energy.
From the accumulation of the weights generated for sales that could not be converted into dollars Due to the exchange rate, in some car companies there were investments in non-specific sectorsbut which in the future could prove strategic when faced with the production of electrified models.
In the case of Stellantis Argentina, last year it acquired around 50% of the local company 360 Energy, from the Ivanissevich family, which operates five solar parks in the northwestern region. The news was not officially announced by the group, but they did not deny it either. also bought Norauto Argentinabranch of the French spare parts sales chain of the same name, owned by the Mobivia group.
Around October last year Stellantis made a third “external” investment, this time in the mining sector: the acquisition of 19% of Argentina Lithium and energy (ALE), a company controlled by the mining company Grosso Group.
All these “advance” expenses are part of that 3 billion dollar investment package that, as Tavares explained to Lula, Stellantis has provided in recent years in the region.
Starting next year, with new investments of $6 billion for the period 2025-2030, the Argentine branch will receive $400 million “in the first year alone”, local sources assured. And they confirmed that between the investments of 2023, those of this year and those of next year, the package will amount to “at least 500 million dollars“.
-Including the launch of the Peugeot 2008 produced in El Palomar?
-Yes. And also investments in other sectors.
Source: Clarin
