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Stellantis has signed a non-binding Memorandum of Understanding (MOU) with GME Resources for the future offtake of battery-grade nickel and cobalt sulphate from the NiWest Nickel-Cobalt Project. This agreement aims to bolster Stellantis' electric vehicle battery production in line with its Dare Forward 2030 strategic plan, which targets a 100% battery electric vehicle sales mix in Europe by 2030. The NiWest Project is expected to produce approximately 90,000 tons per annum of battery-grade materials, with significant investment already made in its development.
Stellantis N.V. has announced it will release its Third Quarter 2022 Shipments and Revenues on November 3, 2022. The live audio webcast and conference call are scheduled for 1:00 p.m. CET / 8:00 a.m. EDT on the same day. Relevant press materials will be available on the company’s website starting at 8:00 a.m. CET / 3:00 a.m. EDT. A recorded replay will also be accessible afterward. Stellantis aims to lead as a sustainable mobility provider, collectively representing a variety of iconic automotive brands.
Stellantis is cultivating a global network of over 1,000 partners through 164 collaborative projects aimed at fostering innovation in the automotive sector. The partnerships span institutions, R&D centers, and universities, focusing on areas like electrification, autonomous driving, and manufacturing. This initiative aligns with Stellantis' Dare Forward 2030 strategic plan, targeting carbon net zero emissions by 2038. By leveraging co-funded projects, Stellantis aims to address future mobility challenges while enhancing its transformation into a leading sustainable mobility tech company.
Stellantis has announced significant investments in its Mirafiori Complex in Turin, Italy, aimed at enhancing its electric vehicle production and establishing a Circular Economy Hub. The upgraded facility in partnership with Punch Powertrain will begin producing advanced electrified dual-clutch transmissions (eDCT) in the second half of 2024. The Circular Economy Hub, launching in 2023, will focus on vehicle reconditioning, dismantling, and parts remanufacturing, contributing to Stellantis' goal of achieving carbon net zero by 2038 as part of its Dare Forward 2030 strategic plan.
Stellantis has entered into a share repurchase agreement with General Motors for 69.1 million common shares, approximately 2.2% of its share capital. This transaction also involves Stellantis delivering approximately 1.2 million shares of Faurecia and around EUR130 million in cash for rights to dividends. The total amount for the repurchase is EUR923,247,678, based on the average price of Stellantis shares over the past five trading days. The execution of this transaction will take place on September 15, 2022.
The Jeep brand, part of Stellantis, announced plans to become the leading electrified SUV brand globally. By 2025, Jeep intends to introduce four all-electric SUVs in North America and Europe. Stellantis aims for 100% battery electric vehicle (BEV) sales in Europe and 50% in the U.S. by 2030, supported by over €30 billion investment in electrification. These initiatives align with Stellantis’ goal to achieve carbon neutrality by 2038, aided by upcoming BEV launches, including the Jeep Recon and Wagoneer S.
Stellantis has appointed Chris Taylor as Chief Digital Information Officer, effective September 5, 2022. He will report to Chief HR and Transformation Officer Xavier Chéreau and functionally to CTO Ned Curic. Taylor, who has nearly 30 years of IT experience, aims to lead Stellantis' transition into a sustainable mobility tech company by enhancing digital strategies and improving IT execution. His expertise in cybersecurity and customer-centric solutions is expected to contribute to Stellantis' ambitious Dare Forward 2030 initiatives.
Stellantis N.V. announced robust H1 2022 results, showcasing a record 14.1% AOI margin and a €8.0 billion net profit. The company's industrial free cash flows reached €5.3 billion, demonstrating strong financial health. Additionally, global BEV sales surged nearly 50%, positioning Stellantis as a leader in the EU30 BEV market. These results underscore Stellantis's commitment to sustainable mobility while capitalizing on market opportunities.
Free2move has successfully acquired Share Now, establishing itself as a global leader in mobility. This strategic move accelerates Free2move’s growth plans across Europe and the U.S., aiming to simplify customer mobility solutions with services available by the minute, day, month, or year. With over 6 million customers worldwide, the acquisition enhances Free2move’s mobility hub offerings and aligns with Stellantis' Dare Forward 2030 goal of reaching 15 million customers and €2.8 billion in revenue by 2030, creating potential new synergies and profitability.
