Stellantis N.V Stock Price, News & Analysis

Leapmotor International, a 51/49 Stellantis-led joint venture, has shipped its first batch of electric vehicles from China to Europe. The shipment includes C10 SUVs and T03 cars, marking a significant milestone in the partnership. Sales will begin in nine European countries in September 2024, with plans to establish 200 sales points by the end of 2024, expanding to 500 by 2026.

Leapmotor, the fourth largest Chinese NEV startup, has sold over 400,000 EVs in China as of July 2024. The joint venture aims to leverage Stellantis' distribution channels and Leapmotor's innovative technology to provide affordable and sustainable mobility solutions to European customers. The partnership plans to launch at least one new model annually for the next three years and expand to other global markets by late 2024.

Stellantis Pro One has achieved market leadership in commercial vehicles across three regions: Europe 30, South America, and Middle East & Africa in the first half of 2024. The company's success is attributed to its robust product offensive, including the launch of the ProMaster EV Delivery van in North America and the New Fiat Titano pickup in South America. Stellantis Pro One has renewed its van lineup with 12 nameplates across all segments, featuring second-generation electrification and full connectivity. Key highlights include:

- Over 28.5% market share in EU 30 with a 4% year-over-year volume increase
- 31.9% BEV market share leadership in Europe
- 22.2% market share in Middle East & Africa
- 31.1% market share in LCV sales in South America
- Introduction of the new MultiJet 4.0 engine and AT8 8-speed transmission for large vans

Stellantis (NYSE: STLA) has shown strong performance in the J.D. Power 2024 U.S. Automotive Performance, Execution and Layout (APEAL) Study. Key highlights include:

• Jeep® Wagoneer ranked first in the large SUV segment
• Alfa Romeo Giulia topped the compact premium car segment
• Alfa Romeo Tonale placed third among compact premium SUVs
• Ram ranked second among mass-market brands for the fifth consecutive year
• Ram 1500 finished second in large light-duty pickups
• Ram 2500/3500 tied for second in heavy-duty pickups

The study measures customer feedback on current-model attributes, from exterior styling to fuel efficiency. Bill Kendell, senior VP of North America customer experience at Stellantis, emphasized the company's commitment to designing and building engaging vehicles.

Stellantis N.V. and One Equity Partners (OEP) have announced a binding agreement for OEP to make a majority investment in Comau, a global industrial automation and robotics company. This spinoff is part of the strategic plan set during the Stellantis merger in January 2021. Stellantis will remain an active minority shareholder.

Key points:

• Comau will gain access to additional funds to enhance its Italian roots and expand in diversified sectors
• The executive team, including Executive Chairman and CEO, will remain intact
• The transaction is expected to close by the end of 2024, subject to regulatory approvals
• Financial terms were not disclosed

This move aims to help Comau achieve autonomy and strengthen its success while allowing Stellantis to focus on core business activities in Europe.

Stellantis reported mixed financial results for the first half of 2024, with net revenues of €85.0 billion, down 14% compared to H1 2023. The company's net profit decreased by 48% to €5.6 billion, primarily due to lower volume and mix, foreign exchange headwinds, and restructuring costs. Adjusted operating income (AOI) fell to €8.5 billion, with an AOI margin of 10%.

Despite challenges, Stellantis is taking decisive actions to address operational issues, particularly in North America. The company plans over 20 product launches in 2024, including the refreshed Ram 1500 and new Peugeot 3008. Stellantis has also received approvals to launch the Leapmotor International JV, expanding its presence in key markets.

The company returned €6.7 billion to shareholders in H1 2024 and remains committed to returning at least €7.7 billion by year-end. Industrial free cash flows were near zero (-€0.4 billion) but are expected to improve in the second half of the year.

MotorTrend Presents Roadkill Nights Powered by Dodge is set to return to M1 Concourse in Pontiac, Michigan, on Saturday, August 10, 2024. The event features legally sanctioned drag racing on Woodward Avenue, including the Direct Connection Grudge Race. Tickets start at $25 with various packages available.

Highlights include:

• NHRA champions Matt Hagan and Ida Zetterström driving 11,000+ horsepower racecars
• Grudge Race competitors using Direct Connection HurriCrate engines
• Street-legal drag racing in Big Tire and Small Tire classes
• Muscle car cruise-in, Dodge Thrill Rides, and more

The event showcases Dodge's performance heritage and new electric muscle cars, including the 2024 Dodge Charger Daytona R/T and Scat Pack models.

Stellantis N.V. (STLA) has successfully extended and amended its €12 billion syndicated revolving credit facility (RCF), originally established in July 2021. The updated RCF is structured in two €6 billion tranches: one with a three-year tenor (July 2027) and another with a five-year tenor (July 2029). Both tranches have two one-year extension options exercisable on the first and second anniversary of the amendment signing date.

The facility involves 29 banks from Europe, America, and Asia, demonstrating strong international support for Stellantis. This amendment, featuring improved terms, enhances the company's financial flexibility and remains available for general corporate purposes.

Stellantis (STLA) has unveiled the 2024 Jeep Gladiator High Tide Edition, a special model exclusively for Florida. Based on the Gladiator Sport S, this edition features 17-inch black-painted aluminum wheels, 32-inch mud-terrain tires, and steel rock rails. It's equipped with a Jeep Command-Trac 4x4 system and a 2.72:1 low-range gear ratio for enhanced off-road capability.

The High Tide Edition includes 12-way power adjustable seats, heated front seats and steering wheel, and a 12.3-inch Uconnect 5 touchscreen. Available in six colors, it's priced at $48,275 (excluding $1,895 destination fee). This launch aligns with Jeep's electrification initiative, aiming to offer electrified variants for all North American models by 2025.

Stellantis (NYSE: STLA) is launching a new battery-electric vehicle (BEV) purchase package, offering customers a choice between an at-home charging station or $600 in charge credits through Free2move Charge. The company is also introducing the Free2move Charge website and app to assist customers with the buying process and charging options.

The Free2move Charge Home Package includes a Level 2 charging unit for convenient home charging, while the Go Package provides $600 in charging credits for use at public charging stations. Stellantis customers will have access to over 75,000 charging networks across the U.S., with plans to deploy a minimum of 30,000 in-network chargers through the IONNA joint venture starting in 2024.

Stellantis is set to launch several new all-electric vehicles in the U.S. market, including the 2024 Fiat 500e, 2024 Dodge Charger Daytona, 2025 Jeep Wagoneer S, 2025 Jeep Recon, and 2025 Ram 1500 REV.