Stellantis: 98% of models to be electric or hybrid by 2025

DETROIT (AP) — Stellantis is a little late to the global electric vehicle party, but on Thursday it pledged to catch up and pass its competitors. CEO Carlos Tavares says that by 2025, 98% of its models in Europe and North America will have fully electric or plug-in gas-electric hybrid versions. The automaker that combined Fiat Chrysler and Peugeot is developing four electric vehicle platforms with ranges up to 800 kilometers (497 miles). The models include a fully electric Ram pickup and hybrid Jeep Grand Cherokee and even an electric Dodge muscle car. The company says it will spend no less than 30 billion euros ($35.6 billion) over the next five years on EVs. It will build five battery factories in the U.S. and Europe.