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Stellantis N.V. has reported on its first tranche of the share buyback program initiated on March 16, 2023. The program, amounting to €500 million, is set to run until June 19, 2023. As of April 20, 2023, Stellantis repurchased a total of 1,124,884 shares during the week of April 14-20, at an average cost of €16.87 per share, totaling approximately €18.98 million for this period. Since the program's start, the company has acquired 3,703,624 shares for a total of €61.31 million. Following these transactions, Stellantis holds 72,829,168 shares in treasury, equating to 2.27% of the total issued share capital. This initiative aims to enhance shareholder value and optimize capital structure.
Stellantis is concluding tests on eFuels for 28 engine families to reduce carbon emissions in its fleet of internal combustion engines (ICE) in Europe. While aiming for 100% battery electric vehicle (BEV) sales in Europe by 2030, eFuels could cut CO2 emissions by up to 90% and affect around 28 million vehicles. The initiative could potentially reduce emissions by 400 million tons from 2025 to 2050. CEO Carlos Tavares emphasized that this step complements their electrification strategy and helps address emissions from existing ICE vehicles. Stellantis aims for carbon neutrality by 2038, backed by an investment of over €30 billion by 2025 towards electrification and software development.
