Stellantis announced a comprehensive $70 billion turnaround plan on Thursday, as the automaker seeks to revive its struggling operations and achieve positive cash flow by 2028.

The plan, unveiled by CEO Antonio Filosa, emphasizes affordability in the U.S. market with the launch of nine new vehicles priced under $40,000. This strategy represents a significant shift for the company, which owns brands including Jeep, Ram, Chrysler, Dodge, and international marques like Peugeot and Fiat.

The turnaround effort comes as Stellantis faces challenges in the competitive automotive market and seeks to strengthen its position across multiple segments. The company's focus on more affordable offerings appears designed to capture a broader consumer base in the United States.

As part of its technological advancement initiatives, Stellantis has also announced a partnership with autonomous driving company Wayve. The collaboration will integrate Wayve's self-driving technology into Stellantis vehicles, with deployment expected by 2028.

The ambitious revival plan represents one of the largest investment commitments in the automotive industry as manufacturers navigate the transition to electric vehicles and autonomous driving technologies. Stellantis joins other major automakers in making substantial financial commitments to remain competitive in the rapidly evolving transportation sector.