BNDES approves R$ 241,8 million for Stellantis to develop technology for hybrid and electric vehicles.
The group will develop new technologies at its Betim (MG) plant and expects that 20% of its sales in Brazil will be electrified models by 2030.
247 - The Brazilian National Bank for Economic and Social Development (BNDES) has approved R$ 241,8 million in financing for Stellantis Automóveis Brasil Ltda to invest in the development of technologies for the production of hybrid and electric vehicles at its Betim (MG) plant. The funds come from the BNDES Mais Inovação program and will be used in the Bio-Hybrid strategy, which combines different engine architectures, including the combination of an electric motor with a flex-fuel engine (gasoline/ethanol), adapted to the realities of the Brazilian market.
At its Betim plant, Stellantis will develop three distinct hybrid architectures, combining a flex-fuel combustion engine and an electric motor, as well as a fully electric architecture. The project's implementation is expected to generate approximately 400 direct and 2 indirect jobs, strengthening the national automotive production chain.
The project is part of a global movement by the group to reduce the consumption of fossil fuels and, consequently, decrease CO2 emissions. In Brazil, the company estimates that 20% of its sales will be electric vehicles by 2030.
"The project approved by BNDES brings to Brazil the development of hybridization and electrification technologies for vehicles, contributing to the strengthening of the national supply chain of auto parts and components for hybrid and electric vehicles, in line with President Lula's government strategy to promote the energy transition in the country. The development of this technology in the country, combining the electric motor with ethanol, meets local needs, generates jobs and opens markets for export," said the president of BNDES, Aloizio Mercadante.
The bank's Director of Productive Development, Innovation and Foreign Trade, José Luís Gordon, highlighted that "investment in innovation is one of the missions of the new industrial policy of the federal government, which also seeks to support decarbonization projects to make Brazilian companies more competitive and sustainable."
Stellantis is the fourth largest automotive conglomerate in the world, behind only Toyota, Volkswagen, and Hyundai. The company owns 14 brands, including Fiat, Jeep, RAM, Citroën, Peugeot, Chrysler, and Dodge. With approximately 300 employees globally, it has manufacturing plants in 30 countries and sells vehicles in approximately 150 markets. In 2023, Stellantis sold approximately 6 million vehicles worldwide. In Brazil, the company is headquartered in Betim (MG) and leads the national automotive market.
