On Friday, Stellantis (NYSE:STLA) announced that it has partnered with French high-tech company Qinomic to develop a project seeking to convert internal combustion engine vans into electric-powered vehicles.

The company said that the retrofit solution strives to extend vehicle life and usage, securing sustainability and affordability simultaneously. The company further said that city access restrictions would soon require recent LCV (light commercial vehicles) owners to look for a solution to convert to zero emissions. Retrofitting technology like this will enable the company to support this trend.

The company added that the project would be developed next year, while implementation and commercialisation are expected to start in France in 2024.

Headquartered in the Netherlands, Stellantis is an automotive manufacturing corporation formed in 2021 based on a 50–50 cross-border merger between the Italian-American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group.

On Friday, shares of STLA are down 3.63 per cent in pre-market trading.