Energy major TotalEnergies will invest $5bn in low-carbon energies this year, up from the $4bn previously earmarked. The French group made the announcement on March 21 alongside the release of its sustainability and climate progress report.

By 2030, the firm plans to invest a total of up to $18bn per year, with 33% going to low-carbon energies, 30% to new oil and gas projects, and the remainder to maintenance of its hydrocarbon portfolio. 


Last year, the company invested $4bn in low-carbon energies and increased its renewable generation capacity to 21 gigawatts (GW). It aims to have 35GW of renewables installed by 2025. A recent analysis shows that Europe’s six biggest energy majors, including TotalEnergies, committed less than a quarter of their total capital expenditure to low-carbon projects in 2022.

Stellantis invests €130m in Germany

Multinational automaker Stellantis is investing over €130m in its Eisenach assembly plant in Germany as part of its electrification drive. The capital injection will prepare the facility, which manufactures the Opel Grandland model and its hybrid variant, for its battery electric vehicle (BEV) successor.

“Adding a BEV to Eisenach’s output supports Opel’s bold commitment to a fully electric product lineup by 2028 in Europe,” the Netherlands-headquartered group said in a statement announcing the news on March 22.

The plant, located in the central state of Thuringia, will start producing the BEV in the second half of 2024.

BMW pumps $26.7bn into South Carolina each year


German automaker BMW’s only US manufacturing facility, Plant Spartanburg in South Carolina, generates $26.7bn for the state each year, according to a study published on March 21. The study was commissioned by the group and conducted by the University of South Carolina.

The multi-billion dollar figure reflects all goods and services produced in the state, both directly and indirectly. The plant also supports 42,935 direct and indirect jobs in South Carolina. BMW’s investment in the plant started in 1992.

Last year, the group announced it would inject another $1bn into Plant Spartanburg as part of its US electro-mobility strategy. It will also spend $700m to build a battery assembly facility in Woodruff, South Carolina.

And finally: On March 22 the governments of Saudi Arabia and India agreed to create an ‘investment bridge’ to accelerate investment projects between the two countries.