After the automotive industry committed to a future switch to electric vehicles (EVs), it seems like every week another car company is reversing its stance – with significant investment being poured back into petrol engine development.

And that could soon mean at least one new V8-powered muscle car.

One of the biggest automakers, Stellantis – parent company of 14 car brands, including Chrysler, Dodge, Jeep, and Ram – has announced it is doubling its investment in US manufacturing to the tune of US$10 billion (A$15bn), according to a report from business outlet Bloomberg.

Stellantis is said to be reopening shuttered factories in several US states, specifically to support new products from Chrysler, Dodge, and Jeep, which the report claims “could result in a new Dodge V8 muscle car”.

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The announcement comes less than two years after the company ended production of its ‘Hemi’ V8 – a cornerstone of the business, powering models from all of its American brands – following a company-wide push towards electrification from former CEO Carlos Tavares.

Despite a new 3.0-litre twin-turbo inline six-cylinder ‘Hurricane’ engine being developed to replace the Hemi, the ageing V8 was put back into production shortly after the departure of Tavares – and now production appears to be ramping back up.

At the same time, Dodge has axed plans for the Charger Banshee – a high-performance EV, designed to exceed the output of the brand’s famous V8-powered Hellcat models.

While the return of a V8 Dodge Challenger has long been rumoured, Bloomberg suggests the increased production could also see the return of a Chrysler product powered by a V8 – citing people close to the brand.