Stellantis (NYSE: STLA) is joining the likes of Ford (NYSE: F) and General Motors (NYSE: GM) with a multi-billion dollar investment in the development of electric vehicles.
According to the company's announcement, Stellantis plans to have an entire family of "electrified" cars by 2025, including hybrid vehicles. Stellantis' inclusion of hybrids departs from many of the rollout plans we have seen so far from major car manufacturers, many of which plan to cease the use of combustion engines entirely. To drive its development, Stellantis is planning on investing $35 billion across all brands.
In terms of what Stellantis has to offer, it's not entirely different from what we've seen already, with electric versions of popular brands such as Jeep, Dodge, and Ram. Key reveals included an all-electric Dodge muscle car and a full-sized electric Ram pickup truck.
Based on Dodge's reveal video, one could assume that Stellantis intends to release an all-electric Challenger (an assumption based on the shape of the car's glowing grill in the video), likely as an answer to Ford's own announcement of an all-electric Mustang.
The inclusion of an all-electric Ram pickup is likely a similar response to Ford's announcement of an electric F150 line but also appears to be an answer to Tesla's (NASDAQ: TSLA) Cybertruck. In Ram's teaser video, the company boasted an electric pickup that would achieve ranges of 500 miles on a single charge, putting the hypothetical model in direct competition with Tesla's electric truck.
As I said, however, Stellantis' reveal isn't anything we haven't seen from the likes of Ford and GM. That's not to say that there's been any failure on Stellantis' part, only that such a move had to be expected at some point. Investors appeared to have shared this sentiment, which is likely why there hasn't been much of a reaction out of the company's stock. Shares slid slightly on Thursday despite the announcement, ending a single cent down. Stellantis shares have gained 2.7% since Thursday.