Stellantis admits building cost of EVs is 40-50% more than ICE vehicles

During Stellantis’ 2021 earnings call, CEO Carlos Tavares admitted that building EVs is a costly endeavour for the company.

He described the cost of electrification as the gorilla in the room. As per the automakers numbers, building an EV costs 40-50 per cent more than an internal combustion vehicle.

However, what is shocking is that Stellantis believes it is 30 per cent more efficient than the other traditional automakers in this space.

Although EVs can be sold for more than traditional combustion vehicles, the automaker cannot pass all costs to the consumers.

So, Stellantis is working to reduce its internal costs while also getting better deals from its suppliers.

At least to say, Stellantis is coming into 2022 with a strong base. 2021 was a good year for the company. So much that unionized employees in the US received a $14,670 bonus.

Over the next several years, Stellantis will push its 14 brands to electrify. However, some will be ahead of others in terms of going full electric.

Alfa Romeo will be all-electric as of 2027.

Chrysler will be all-electric by 2028.

While other brands are bringing out new EV models or simply looking to electrify their current lineup. These brands include Citroen, Fiat, Opel, Peugeot, Dodge and Maserati.

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