Stellantis acquires 49.5% in Argentine solar power producer

Stellantis acquired 49.5% of an Argentine solar power producer to increase its self-sufficiency in its operations. 

The legacy automaker invested $100 million in 360 Energy Solar. Stellantis hopes to develop new solar plants, install large-scale solar storage systems, and produce hydrogen energy through the partnership. 

In January 2024, Stellantis Pro One announced the expansion of its hydrogen fuel cell vehicle production with commercial vans for the European market. At the time, it announced that in-house production on mid-size and large hydrogen fuel cell vans already started in France and Poland, respectively.

Acquiring 360 Energy Solar is also expected to help the renewable energy capabilities of Stellantis’ Ferreyra and El Palomar plants. The Ferrerya and El Palomar facilities are currently powered by 360’s La Rioja solar power plant. 

Stellantis has partnered with a few organizations and groups in its renewable energy journey. Last month, the automobile company partnered with CARB (California Air Resources Board) to reduce carbon emissions in California. 

The CEO of Stellantis has received a lot of criticism as the company steers toward a renewable future. CEO Carlos Tavares has stated that Stellantis’ journey toward profitable electric vehicle production and the fight against Chinese EVs in Europe will leave scars. 

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