(Reuters] Stellantis NV, fourth-largest automobile manufacturer in the world, announced Monday that it is now offering a voluntary pension program for eligible employees.

A Dutch-based firm stated that early retirement is possible for workers over 55 who have been employed with them for more than 30 years, or under 58 who have had 10 years’ employment.

Employees who are offered buyouts can already retire.

“To assist in our transition, and to align our business priorities to a new set of critical skills and investment opportunities, Stellantis North America is offering a voluntary retirement program to eligible members of our team,” the company said in an emailed statement.

Unionized-salaried employees are not eligible for the buyouts, according to CNBC https://www.cnbc.com/2021/11/01/stellantis-offering-buyouts-to-pension-eligible-us-salaried-workers.html, which initially reported the development. According to CNBC, the company stated that the buyouts were a means to help it focus on electric cars more.

Stellantis, a company formed from Fiat Chrysler’s merger with France’s PSA in January, announced that it would build factories in North America together with Samsung (KS) and LG Energy (KS:). The goal is to produce electric vehicles (EV) for North America.