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Stellantis announced the launch of the “Freedom of Mobility Forum”, an annual open forum dedicated to addressing sustainable mobility issues. Scheduled for early 2023, this platform will engage diverse stakeholders in a 360-degree approach to discuss and develop actionable solutions for clean, safe, and affordable mobility, particularly in light of climate challenges. The initiative further emphasizes Stellantis’ commitment to direct engagement with the public, following its withdrawal from the European Automobile Manufacturer’s Association (ACEA) by year-end 2022.
Arena del Futuro, a circuit developed by A35 Brebemi in collaboration with Stellantis and other partners, showcases Dynamic Wireless Power Transfer (DWPT) technology for electric vehicles (EVs). The pilot project demonstrates that EVs like the Fiat New 500 can travel at highway speeds without depleting their battery, thus easing range anxiety and supporting sustainability. Coupled with Stellantis' Dare Forward 2030 strategic plan, this technology aims for a future where electrified mobility is accessible and efficient.
FCA US LLC has reached a settlement regarding a U.S. Department of Justice investigation involving approximately 101,482 vehicles equipped with EcoDiesel engines. The agreement includes a guilty plea, a fine of $96.1 million, and the forfeiture of $203.6 million in gains. Consumer claims related to the affected vehicles have been resolved, and no additional recalls are necessary. FCA US had previously accrued approximately €266 million ($301 million) for this matter, covering the penalties outlined in the plea agreement.
Stellantis has signed a binding offtake agreement with Controlled Thermal Resources (CTR) for the supply of lithium hydroxide to support its North American electric vehicle production. This agreement will provide up to 25,000 metric tons of battery-grade lithium annually over the next decade, enhancing Stellantis' decarbonized supply chain for electrification. The lithium will be sourced from CTR’s geothermal project in California, utilizing renewable energy for production. Stellantis plans to launch over 25 all-new battery electric vehicles and aims for 50% BEV sales by 2030.
Stellantis and Toyota Motor Europe have expanded their partnership by introducing a new large-size commercial van, which will include a battery electric version. This agreement enhances Stellantis' light commercial vehicle (LCV) offerings in Europe, aligning with its Dare Forward 2030 objectives. The new van, set for production in mid-2024, will be manufactured in Poland and Italy for the European market, completing Toyota's LCV lineup. This collaboration aims to optimize development and production costs while contributing to both companies' growth targets.
Stellantis and Samsung SDI have announced a joint venture to build an electric vehicle battery plant in Kokomo, Indiana, with an investment exceeding $2.5 billion. The facility aims to commence production in 2025 and create 1,400 jobs. Initially, it will have a production capacity of 23 GWh, expandable to 33 GWh, to meet increasing demand for Stellantis’ electric vehicles. The investment may rise to $3.1 billion as the market develops, aligning with Stellantis’ electrification strategy outlined in its “Dare Forward 2030” plan.
Stellantis CEO Carlos Tavares highlights India's significance as a strategic growth market during his visit on May 18, 2022. The company has invested over €1 billion since 2015, aligning with India's 'Make in India' initiative. Stellantis aims to strengthen its presence through new Jeep and Citroën products, contributing to local manufacturing. The digital hub in India has become one of Stellantis' largest ICT organizations. Tavares emphasizes a long-term commitment to developing India's supplier base to enhance global competitiveness.
Stellantis announces leadership changes effective June 1, 2022, to enhance the execution of its "Dare Forward 2030" strategic plan. Maxime Picat becomes Chief Purchasing and Supply Chain Officer, aiming to reduce EV costs by 40%. Uwe Hochgeschurtz steps in as Enlarged Europe Chief Operating Officer, focusing on electrification and online sales. Florian Huettl is appointed Opel and Vauxhall Chief Executive Officer, while Alison Jones is promoted to Senior Vice President of Circular Economy, targeting €2 billion in revenues by 2030. These appointments reflect Stellantis' commitment to transformation and sustainable mobility.
Stellantis reported a 12% increase in Q1 2022 net revenues, totaling €41.5 billion, compared to €37.0 billion in Q1 2021 Pro Forma. The growth stemmed from strong pricing, vehicle mix, and favorable FX translation, despite a 12% decline in shipments to 1,374 thousand units due to semiconductor shortages. The full-year guidance for double-digit adjusted operating income margins and positive cash flow was confirmed. Additionally, an ordinary dividend of €1.04 per share was approved at the AGM.
Free2move has signed an agreement to acquire Share Now, enhancing its position as a global mobility leader. This acquisition adds 14 new European cities and 10,000 vehicles to Free2move's existing fleet and aims to grow its customer base from 2 million to 5.4 million. With a goal of achieving €2.8 billion in net revenues by 2030, this strategic move is crucial for Stellantis's 'Dare Forward 2030' initiative. The completion of the acquisition is subject to customary conditions, including antitrust requirements.
