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Stellantis N.V. announced the execution of its First Tranche of the Share Buyback Program, totaling up to €500 million, between March 17, 2023, and June 19, 2023. As of March 23, 2023, Stellantis repurchased 609,801 common shares at an average price of €16.0341, amounting to €9,777,640. This program aims to enhance shareholder value and reflects the company's commitment to return capital to investors. Following these repurchases, Stellantis holds 69,735,345 common shares in treasury, representing 2.17% of its total issued share capital. Further details can be found on their corporate website.
The Freedom of Mobility Forum, initiated by Stellantis, will host a live digital debate on March 29, 2023, focusing on the affordability of mobility in a decarbonized world. The event, facilitated by Wavestone, aims to foster a fact-based discussion among a panel of international experts, addressing whether freedom of mobility will be accessible to all or just a select few. The debate will feature a Q&A session and will start at 2:30 p.m. CEST. Registration is free, and a recorded replay will be available for those who cannot attend.
Stellantis has announced an investment of over €130 million in its Eisenach Assembly Plant in Germany, aimed at producing the next-generation Opel Grandland battery electric vehicle (BEV) starting in late 2024. This initiative supports Opel's commitment to a fully electric lineup by 2028 and aligns with Stellantis' Dare Forward 2030 strategic plan, which aims for significant CO2 reductions and increased electrification. The Eisenach plant has a history of quality improvements and will utilize the new STLA Medium platform. Stellantis is investing over €30 billion in electrification through 2025.
Stellantis and Crédit Agricole Consumer Finance have announced a binding agreement to acquire the activities of ALD in Portugal and LeasePlan in Luxembourg. This strategic move aims to enhance their joint venture, the NewCo, strengthening its position as a leading European leasing provider while advancing their Dare Forward 2030 strategy. The acquisition will add approximately 30,000 vehicles to NewCo's fleet, which currently stands at around 828,000. The transaction is expected to close in 2023, subject to regulatory approvals and the completion of ALD's acquisition of LeasePlan.
Stellantis has launched six FIAT carlines in Algeria to enhance the local automotive sector, beginning March 21. The models include the FIAT 500 Hybrid, 500X, Tipo, Doblò, Scudo, and Ducato. This move involves an investment of over €200 million to establish manufacturing in Tafraoui, Oran, with production of the FIAT 500 starting in December 2023. The initiative aims to create 2,000 jobs and achieve a localization rate of over 30% by 2026. Stellantis aims to sell one million vehicles in the region by 2030, underlining its commitment to local production and customer service, with a comprehensive sales network planned for 28 Wilayas.
Stellantis N.V. announced the launch of the first tranche of its Share Buyback Program, with a budget of up to €500 million aimed at acquiring shares in the open market. This initiative is part of a broader plan totaling €1.5 billion, designed to enhance shareholder value by canceling shares purchased during the buyback. The program will commence on March 17, 2023, and conclude by June 19, 2023. Shares bought back will be canceled subsequently. The buyback is authorized by shareholders and will not exceed 10% of the company's capital, in compliance with market regulations.
The Freedom of Mobility Forum has announced the agenda and panelists for a live debate scheduled on March 29, 2023, focusing on the affordability of mobility in a decarbonized world. The event will feature six diverse panelists representing various sectors including business, youth, and climate experts, discussing the environmental and social costs of mobility. The debate will address critical questions such as, “In a decarbonized world, will freedom of mobility be affordable to a happy few only?” The forum aims to foster constructive dialogue on preserving mobility amidst climate challenges.
Stellantis has announced that its Cassino Assembly Plant in Italy will start producing vehicles based on the new BEV-centric STLA Large platform. This initiative aligns with Stellantis' Dare Forward 2030 strategic plan, emphasizing electrification and sustainability.
The STLA Large platform promises a range of up to 800 km (500 miles) and features flexible design capabilities. Stellantis is investing over €30 billion through 2025 in electrification and software innovations. This investment aims for significant emission reductions and doubling net revenues by 2030.
Stellantis has entered into a Memorandum of Understanding with the Industrial Development Corporation and the Department of Trade, Industry and Competition to establish a vehicle manufacturing facility in South Africa. This initiative is part of Stellantis' Dare Forward 2030 strategy, aiming to produce one million vehicles in the region by 2030, achieving 70% production autonomy. The project, located in a South African Special Economic Zone, is targeted for completion by 2025. Key officials, including Minister Ebrahim Patel and Stellantis COO Samir Cherfan, emphasized the importance of this investment in enhancing local manufacturing capabilities and job creation.
Stellantis has signed the United Nations Women's Empowerment Principles (WEP), reinforcing its commitment to gender equality and diversity within its workforce. CEO Carlos Tavares emphasized that the company's transformation into a sustainable mobility tech entity is contingent upon its representation reflecting global diversity.
In 2022, Stellantis increased the percentage of women in leadership roles from 24% to 27%, aiming for 30% by 2025. The company's Women of Stellantis resource group celebrated its first anniversary, increasing membership by 67%.
