The company said it hopes the new strategy can reverse weak sales over the past few years.
WASHINGTON — Stellantis on Thursday unveiled its $70 billion five-year strategic plan, which aims to generate cash flow for the company over the next year or two.
The automaker said it will continue to focus on Jeep and Ram vehicles in the United States. They added that Chrysler will launch three new compact SUVs, at least one of which will retail for less than $30,000.
As part of the plan, the company plans to launch 11 new vehicles over the next few years, seven of which will be priced under $40,000.
Ram will introduce compact and midsize trucks to help the company diversify from its current lineup of full-size pickups.
CNBC reports The company aims to grow North American revenue by 25%.
As part of the plan, Stellantis does not expect to retire any of its 14 car brands.
The company said it hopes the new strategy can reverse weak sales over the past few years.
CNN Newsource contributed to this report.
