Written by the ESG McGill Analyst Team
Earlier this year, the car manufacturer Stellantis announced their new strategic plan, Dare Forward 2030, centred around their transition to battery electric vehicles within the next two decades. Stellantis is one of the largest car manufacturers in the world and is the parent company to
Dodge, Jeep, Chrysler, and Citroen. The plan was announced by the CEO of Stellantis, Carl Tavares. Carl Tavares aims to become “[t]he industry champion in climate change mitigation, becoming carbon net-zero by 2038, with a 50% reduction by 2030.” Stellantis plans to produce 75 electric vehicles, starting with the release of their first 100% battery-powered Jeep SUV in 2023, followed by the release of the Ram 1500 BEV pickup truck in 2024. Moreover, alongside the commitment toward energy transition, Dare Forward also includes initiatives to promote diversity within Stellantis, like increasing the number of women in leadership roles over the next decade. As one of the largest car manufacturers globally, this announcement represents a significant commitment on behalf of Stellantis. Stellantis will be adjusting to the demands of the public to compete in the electric vehicle market race in hopes of winning. Stellantis’ transition to Electric vehicles is an essential step for the auto industry. The shift to electric cars seems necessary for auto manufacturers if they hope to survive. The importance of the change to electric vehicles has been made clear recently as gas prices have risen astronomically because of the sanctions levied against Russia in response to the invasion of Ukraine. Stellantis and other auto manufacturers, like GM and Ford, transitions to electric vehicle production could determine the future of their success in the increasingly electric vehicle-focused market.