It looked like a funny joke: A month ago, Opel boss Michael Lohscheller posted photos of a bright yellow Manta online. Celebrate the electrification of this 1970s icon. Only the foxtail was missing to complete the picture. But on this Thursday it turned out: It’s not a joke. Opel brings a new edition of the Manta, but electric. “We will reinvent the Manta in the middle of the decade,” said Lohscheller. Just as the smallest of the German carmakers is making a remarkable U-turn: From 2028, i.e. in seven years, Opel will only offer electric cars in Europe. This is the most ambitious schedule of all German car manufacturers.
The decision is part of a large, concurrent strategy swing by the parent company Stellantis. The company emerged only six months ago from the two large corporate groups PSA (with Opel) and Fiat-Chrysler. The Franco-Italian car company plans to invest more than 30 billion euros in electric cars and hybrid models by 2025. By then, almost all of the Group’s models should be electrified, explained CEO Carlos Tavares at a company conference. The group with strong pillars in Europe and North America has 14 brands, including Peugeot, Citroen, Fiat, Dodge and Opel.
“The strategy presented here today will steer the right amount of investment into the right technology to reach the market at the right time and ensure that Stellantis enables freedom of mobility in the most efficient, affordable and sustainable way possible,” said Tavares. In recent years, however, he had pointed out that this technology has disadvantages, especially with regard to the carbon dioxide savings that can actually be achieved: In view of the prevailing electricity mix in Europe, which is still powered by coal power in many places, e-mobility is not the most sensible choice. This attitude has now apparently changed, probably also against the background of the Green New Deal by the EU Commission, which is likely to lower the CO₂ limits for various economic sectors again next week.
To ensure the power supply for the vehicles, Stellantis is planning to build five so-called gigafactories. Tavares was confident that, despite the investments, he would continue to be one of the most profitable carmakers: He is forecasting double-digit returns as early as 2026.