Stellantis announces billion-euro investment in Opel

Stellantis' German brand Opel will invest more than 1 billion euros ($1.16 billion) in ​Germany by 2030 and produce the next ‌generation of its best-selling Astra compact car at the subsidiary's Ruesselsheim plant, the company said on Monday.

The carmaker ​plans at least four new models by ​the end of the decade, including successors ⁠to the Astra and Corsa and a ​new compact SUV developed with Chinese partner Leapmotor, ​a statement said.

Opel will also continue to invest in existing models in its portfolio, it added.

"The investment into the ​production of the next Astra generation in ​Ruesselsheim underlines the focus of Stellantis on Germany and the ‌importance ⁠of Opel," Stellantis Europe chief Emanuele Cappellano said.

Accounting for some 30% of total car sales in Europe, the compact segment is a key part ​of Stellantis' ​European strategy, ⁠he added.

Both the future Astra and Corsa models will be based on ​Stellantis' STLA One platform, designed to ​underpin ⁠a new range of electrified vehicles across the group, whose brands also include Fiat, Peugeot and ⁠Jeep.

Last ​month, Stellantis set out a ​60-billion-euro strategic overhaul, including production partnerships with Chinese groups Leapmotor and Dongfeng.

-Reuters