Stellantis to Launch Affordable European EV in 2028, Highlights $26B Charge
Stellantis announced its European E-Car project to produce affordable small electric vehicles in Italy starting in 2028 to counter lower-priced Chinese rivals. CEO Antonio Filosa outlined a long-term plan focusing funding on four core brands, expanding Chinese joint ventures, and addressing overcapacity tied to a $26 billion EV charge.
1. European E-Car Project Details
Stellantis unveiled the E-Car project targeting Europe’s cost-sensitive segment with first units set for production in Italy by 2028. The model emphasizes affordability, range and charging access to protect market share against expanding Chinese rivals in the low-cost electric market.
2. Filosa’s Strategic Plan
CEO Antonio Filosa presented a long-term strategy concentrating investment on four core brands, reviving U.S. sales momentum and expanding joint ventures with Chinese automakers. The plan also addresses brand portfolio optimization and seeks to leverage capacity to lower costs.
3. Financial and Market Impact
The automaker recorded a $26 billion charge to scale back previous EV ambitions, reflecting overcapacity challenges in Europe and signaling tighter financial discipline. Investors will monitor pricing, production volumes and profit implications as these initiatives roll out.