As the world grapples with the consequences of climate change, the need for sustainable transportation has become more apparent than ever before. In Europe, Stellantis has taken the lead in the electric light commercial vehicle (LCV) market, with a market share of around 43% in 2022. The announcement of the production of battery-electric LCVs in Mangualde, Portugal, is a testament to Stellantis' commitment to the environment and to reducing emissions. This move ensures the plant's future and confirms the site's importance for the Portuguese economy. With the GreenAuto project, Stellantis is leading one of the sector's innovation promotion programs, which brings together a consortium of 37 partners, representing a joint investment of 119 million euros.
Stellantis plans to invest more than 30 billion euros by 2025 in the electrification and development of software necessary to produce BEV vehicles that meet customer needs. The decision to produce BEV LCVs in Mangualde is a key element of the Dare Forward 2030 strategic plan, which envisages a drastic reduction in CO2 emissions, with a 50% cut by 2030 compared to 2021, to achieve net-zero emissions by 2038 with a single-digit percentage compensation of the remaining emissions.
As an automotive enthusiast and college professor, I applaud Stellantis' move towards sustainable transportation. The plant in Mangualde, which was the first car production plant in Portugal and has produced 1.5 million vehicles to date, is now transforming into a plant capable of facing future challenges. With the creation of new battery production and the optimization of the industrial area, the plant is set to offer indispensable solutions to commercial customers.
Stellantis' commitment to the environment and to reducing emissions is evident in the completion of the Mangualde photovoltaic energy park. At the end of the works, the park will be able to cover 31% of the plant's annual electricity needs, with a reduction in emissions equal to 2,500 tons of CO2 per year, corresponding to the volume of CO2 absorbed by about 16,000 trees. The plant also aims to carry out other clean energy and energy storage projects.
In conclusion, Stellantis' decision to produce BEV LCVs in Mangualde is a welcome development that will contribute to a sustainable future. To achieve zero emissions by 2038, Stellantis is leading the charge toward sustainable transportation.