Stellantis N.V. reports developments across a global automotive business built around brands such as Jeep, Chrysler, Dodge, Ram, FIAT, Peugeot, Citroën, Opel, Alfa Romeo and Maserati. Recurring news covers operating and financial results, regional vehicle demand, industrial execution, liquidity, and capital actions alongside updates from its brand portfolio.
Company announcements also track vehicle launches and refreshes, including Chrysler Pacifica minivans and Jeep Wrangler, Gladiator and Rubicon models; Mopar service, parts and customer-care products; design and performance programs; shareholder voting matters; and brand partnerships tied to customer engagement and mobility services.
Stellantis and Koç Holding announced a strategic agreement to enhance their Tofaş partnership in Türkiye, consolidating commercial activities for all Stellantis brands under Tofaş. This move aims to create synergies and increase operational efficiency. Notable developments include the allocation of the new 'K0' model production to Tofaş for five brands, with a launch aimed for early 2025. The current production of Doblo will continue until July 2023. Additionally, the existing Fiat Egea/Tipo project is extended to the end of 2025. This agreement signifies confidence in Türkiye's automotive market amidst recent challenges, emphasizing improved customer-centric offerings and potential growth opportunities.
Stellantis has announced a significant investment of $155 million in three plants located in Kokomo, Indiana, aimed at producing new electric drive modules (EDM) to enhance their electrification efforts. This investment aims to support Stellantis's goal of achieving 50% battery-electric vehicle sales in the U.S. by 2030. The EDM will integrate key components to improve vehicle performance and efficiency, potentially reaching a driving range of up to 500 miles. Over 265 jobs will be retained, contributing to the company’s strategic objective of investing nearly $3.3 billion in Indiana since 2020.
Stellantis has announced a significant $155 million investment in McEwen Copper to secure its copper supply for electric vehicle production, furthering its commitment to be carbon net zero by 2038. With this investment, Stellantis acquires a 14.2% equity stake, becoming the second-largest shareholder in McEwen Copper.
The Los Azules project in Argentina aims to produce 100,000 tons of high-purity cathode copper annually starting in 2027. This partnership aligns with Stellantis' goal to innovate and ensure the availability of strategic raw materials for its global electrification plans.
Stellantis N.V. has published its 2022 Annual Report and filed its 2022 Form 20-F with the U.S. Securities and Exchange Commission on February 24, 2023. These documents are accessible in the Investors section of Stellantis' corporate website. Shareholders can request a hard copy of these materials at no charge. The 2022 Annual Report and Form 20-F provide essential insights into the company's financial performance and regulatory compliance, contributing to its goal of becoming a leader in sustainable mobility. For further details, stakeholders can visit www.stellantis.com.
The Dodge Last Call Powered by Roadkill Nights Vegas event, scheduled for March 20, 2023, will showcase the final 2023 Dodge "Last Call" special-edition model, marking the end of the current HEMI®-engine-powered Dodge Challenger and Charger. This event features a day of drag racing, thrill rides, and a car show, culminating in a concert by Grammy-winner Diplo. Dodge is also celebrating its 2023 lineup by reviving popular heritage colors and introducing new features for its Charger and Challenger models, which will include a commemorative underhood plaque.
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Thierry Koskas has been appointed as Citroën Brand CEO and Stellantis Chief Sales & Marketing Officer, effective March 1, 2023. This appointment comes in response to the increasing challenges in the electrified mobility sector and the emergence of new competitors. Koskas aims to enhance the Citroën brand both in Europe and globally, leveraging his experience as a brand commercial director. He retains direct reporting responsibilities to CEO Carlos Tavares. The previous CEO of Citroën, Vincent Cobée, has decided to leave for personal projects.
Dodge has unveiled its first full video teaser for the final 2023 "Last Call" special-edition model, titled "Runnin' Hyde." The series of teasers will culminate in a reveal event on March 20, 2023, during the Dodge Last Call Powered by Roadkill Nights Vegas at the Las Vegas Motor Speedway. This event celebrates the conclusion of the current HEMI-engine-powered models of the Dodge Challenger and Charger. Dodge has already introduced six special-edition models and will present the Dodge Charger Daytona SRT Concept during the event. Ticket sales for the event are now open, and the reveal will be live-streamed on various channels.
Stellantis has approved a €1.5 billion share buyback program, aiming to repurchase shares on the market until December 31, 2023. The initiative is backed by the company's strong cash flow and balance sheet, ensuring liquidity while enhancing shareholder value. This program follows a previous buyback of 69.1 million shares, with 244 million shares remaining authorized. These shares will be purchased at a maximum of 110% of the average market price for the prior five trading days. The company will keep investors updated through press releases and its website.
Stellantis has announced a record €2 billion profit-sharing distribution to its employees worldwide, based on their strong performance in 2022, which saw a €200 million increase from 2021. This milestone reflects the company's successful navigation of a challenging supply-constrained automotive market while launching its Dare Forward 2030 strategic plan aimed at establishing Stellantis as a sustainable mobility leader. CEO Carlos Tavares emphasized the link between the company’s success and employee rewards, aligning with Stellantis’ pay-for-performance culture.