Stellantis said it would launch 60 new models this decade and invest €60bn in products and technology as chief executive Antonio Filosa laid out his strategy to revive the carmaker.
Under a new five-year plan released on Thursday, the European car group said it would keep all of its factories despite sluggish demand in some countries. It added that it would partner with Leapmotor and other Chinese rivals as part of a plan to maintain all 14 of its brands.
It plans to focus 70 per cent of its investments in the Jeep, Ram, Peugeot and Fiat brands, while the new models will include 29 fully electric vehicles. The group’s shares in Milan fell more than 5 per cent following the plan’s release, reflecting disappointment among investors hoping for more radical restructuring.