Stellantis NV, one of the world’s largest automakers, intends to initiate production of its debut hybrid ethanol vehicles, using both ethanol and electricity in Brazil by 2024, Bloomberg reported recently.
The company, which was formed from the merger of Fiat Chrysler and Peugeot manufacturer PSA, has three prototypes featuring electric and ethanol engines, along with one purely electric model, its South American president Antonio Filosa told the news agency. By 2030, some 60% of the group’s sales will come from vehicles involving its biofuels-hybrid technology, according to the executive.
With the plans, Stellantis aims to gain a lead on competitors in Brazil’s electric vehicle (EV) market. In the country, EV technologies face strong competition from the popular flexible-fuel cars.
Filosa was cited as saying that Brazil has a big automotive market and a unique flexibility that has to be used. He expects the company to have greater competitiveness as it has multiple technologies and imports few components.