The motor group responsible for some of the biggest car brands in Europe, including Peugeot, Citroen, Vauxhall and Fiat has announced that it is planning on producing electric vehicles only by 2026.

As part of the Stellantis Dare 2030 strategy, the company is aiming to reduce the carbon footprint of their 14 brands by 50 per cent by the end of the decade.

The announcement was made by Stellantis CEO Carlos Tavares, at the launch of the very first fully-electric Jeep, a new compact SUV which is set to be launched in Europe next year.

With many governments in Europe banning the sale of new ICE cars by 2030, Stellantis, along with most other major manufacturers have had to adapt quickly and in the Dare 2030 announcement Tavares revealed that the company aims to offer 75 electric models by the end of the decade. The company is also looking to see 50 per cent of all sales in the United States to be electric by the same deadline.

“Dare Forward 2030 inspires us to become so much more than we’ve ever been," Tavares said. "We're expanding our vision, breaking the limits and embracing a new mindset, one that seeks to transform all facets of mobility for the betterment of our families, communities and the societies in which we operate.

"Powered by our diversity, Stellantis leads the way the world moves by delivering innovative, clean, safe and affordable mobility solutions.

"Stellantis will be the industry champion in climate-change mitigation, becoming carbon net-zero by 2038, with a 50% reduction by 2030. Taking a leadership role in decarbonisation, as well as a decisive step forward in the circular economy, is our contribution to a sustainable future."

Stellantis announced record revenues of £127bn in 2021, but the company has ambitious plans to boost those revenues by 72 per cent in the next eighth years with this new electric strategy.

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