Stellantis is also set to build five new battery plants by 2025 across Europe and North America, as part of a 30 billion euro (NZ$50.6 billion) investment into electrification. Tavares said Stellantis could add more money to that figure if needed, through more battery plants or raising the capacity of the current plants. Supplied Stellantis, which owns the Peugeot brand, is investing heavily into electrification. The crisis, which was compounded by increased demand as Covid-19 halted travel and holiday spending, has forced carmakers around the world into dropping features, delaying shipments and increasing prices. According to Tavares, it takes around 18 months to re-engineer a vehicle to use a different chip because of the sophistication of the technology. Stellantis, and other makers, will prioritise the models with the highest margins with the chips that do come through.