UK markets close in 30 minutes
  • FTSE 100

    7,820.38
    -81.42 (-1.03%)
     
  • FTSE 250

    20,343.78
    -249.68 (-1.21%)
     
  • AIM

    883.10
    -6.69 (-0.75%)
     
  • GBP/EUR

    1.1195
    +0.0033 (+0.29%)
     
  • GBP/USD

    1.2014
    -0.0043 (-0.35%)
     
  • BTC-GBP

    19,130.13
    -206.12 (-1.07%)
     
  • CMC Crypto 200

    527.90
    +2.76 (+0.53%)
     
  • S&P 500

    4,114.55
    -21.93 (-0.53%)
     
  • DOW

    33,819.04
    -106.97 (-0.32%)
     
  • CRUDE OIL

    72.46
    -0.93 (-1.27%)
     
  • GOLD FUTURES

    1,876.20
    -0.40 (-0.02%)
     
  • NIKKEI 225

    27,693.65
    +184.19 (+0.67%)
     
  • HANG SENG

    21,222.16
    -438.31 (-2.02%)
     
  • DAX

    15,319.28
    -157.15 (-1.02%)
     
  • CAC 40

    7,117.35
    -116.59 (-1.61%)
     

Stellantis partners with Qinomic on project to turn combustion engine vans into EVs

FILE PHOTO: The logo of Stellantis is seen on a flag at the main entrance of FCA Mirafiori plant in Turin

MILAN (Reuters) - Carmaker Stellantis said on Friday it had partnered with Qinomic, a French high-tech company focused on mobility, to develop a project aiming to convert internal combustion engine vans into electric-powered vehicles.

The Italian-French carmaker said the deal involved its Circular Economy unit.

"The retrofit solution aims to extend vehicle life and usage, ensuring sustainability and affordability at the same time," it said in a statement.

In its business plan presented earlier this year, Stellantis set a goal to boost revenues of its business focused on recycling ten-fold to over 2 billion euros ($2.1 billion) by 2030. It also aims to quadruple revenues from extended-life parts and services.

"In a market boosted by last-mile demand, city access restrictions will soon require recent LCV (light commercial vehicles) owners to look for a solution to convert to zero emissions," said Eric Laforge, Stellantis' vice president Light Commercial Vehicles for the so-called Enlarged Europe region.

"Retrofitting technology like this will enable Stellantis to support this trend," he added.

Stellantis said the project would be developed next year, while implementation and commercialisation is expected to start from France in 2024.

No financial details or investment figures for the partnership were disclosed.

($1 = 0.9507 euros)

(Reporting by Giulio Piovaccari; Editing by Mark Potter)