[rickaren]

EARNINGS
Jeep, Dodge maker Stellantis posts record annual profit, announces $4.47 billion shareholder payout

KEY POINTS

• The company also announced a 4.2 billion euro dividend payout to shareholders equating to 1.34 euros per share, subject to shareholder approval.
• While the board approved a share buyback of 1.5 billion euros to be executed by the end of 2023.

An engine undergoes assembly at the Stellantis Dundee Engine Complex on August 18, 2022 in Dundee, Michigan.
Bill Pugliano | Getty Images
Carmaker Stellantis on Wednesday announced record full-year results, reporting a 26% rise in net profit to 16.8 billion euros ($17.9 billion) and a 41% annual jump in global battery and electric vehicle sales.
The Dutch-headquartered company, formed in 2021 from the merger of Italian-American conglomerate Fiat Chrysler group and France’s PSA Group, said net revenues rose 18% to 179.6 billion euros on the back of “strong net pricing, favorable vehicle mix and positive FX translation effects.”

Stellantis CEO Carlos Tavares said the results also demonstrated the effectiveness of the company’s electrification strategy in Europe, with 288,000 battery and electric vehicle (BEV) sales in 2022 and 23 BEVs now on the market.
This figure is expected to double to 47 models by the end of 2024, and Stellantis is targeting global BEV sales of 5 million by 2030.
“We now have the technology, the products, the raw materials, and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024,” Tavares said.


“My deep appreciation to each and every employee, and our partners, for their contributions to a more sustainable future.”

The company also announced a 4.2 billion euro dividend payout to shareholders equating to 1.34 euros per share, subject to shareholder approval, while the board approved a share buyback of 1.5 billion euros to be executed by the end of 2023.




Stellantis is one of the world’s largest carmakers and is known for individual auto brands like Alfa Romeo, Chrysler, Dodge, Fiat, Jeep and Peugeot.

Stellantis shares nudged 1.6% higher during early trade in Europe.

 

[rickaren]

February 22, 2023

Stellantis Employees Rewarded with Record €2 Billion Worldwide Linked to Full Year 2022 Performance

• €200 million more than for full year 2021, as Stellantis achieved record results in 2022 despite a challenging, supply-constrained year for the industry
  
• Stellantis compensation and benefit policy is based on Stellantis’ variable pay and profit sharing plans, reflects the “pay for performance” approach and supports employee commitment

AMSTERDAM – Stellantis today announced it will distribute a record amount of €2 billion this year recognizing the performance of employees worldwide, based on the Company’s 2022 financial results and achievements both globally and locally.
Stellantis achieved exemplary results in 2022, a year that challenged the global automotive industry with continuing supply chain constraints. The year also marked the launch of the Dare Forward 2030 strategic plan, which is transforming the Company into a sustainable mobility tech leader. With a “Care” pillar dedicated to employees, customers and the environment, the plan places Stellantis at the competitive forefront to offer cutting-edge freedom of mobility.
“Thanks to Stellantis’ record performance results achieved in 2022, we will be distributing more than €2 billion in profit-sharing and variable bonus to Stellantis employees across the world,” said Stellantis CEO Carlos Tavares. “It’s €200 million more than last year and it is a fair recognition of the contribution of all Stellantis employees to make Stellantis win in a very demanding economic context. When the Company does well, all employees do well – that’s what our pay-for-performance culture is all about.”

 

[rickaren]

February 22, 2023

Full Year 2022 Results

Stellantis Delivers Record Full Year 2022 Results; Global BEV Sales Up 41%
Progressing Fast on Dare Forward 2030 Execution

• Net revenues of €179.6 billion, up 18% compared to 2021 Pro Forma(1) reflecting strong net pricing, favorable vehicle mix and positive FX translation effects
• Net profit of €16.8 billion, up 26%(1)
• Adjusted operating income(2) up 29%(1) to €23.3 billion, with 13.0% margin, exceeds 2030 target of >12%; all segments contributing to both top and bottom line growth
• Industrial free cash flows(3) of €10.8 billion, up 78%(1), showing early progress toward 2030 objective of >€20 billion
• Net cash synergies of €7.1 billion, more than two years ahead of €5.0 billion annual steady state target
• Strong balance sheet, with Industrial available liquidity at €61.3 billion
• No. 1 EU30 Commercial Vehicles BEV sales, No. 2 EU30 Overall BEV sales, No. 1 U.S. PHEV sales
• First U.S. BEV, Ram ProMaster, arrives 2023
• 23 BEV nameplates now in market, 9 additional BEVs in 2023
• €4.2 billion ordinary dividend corresponding to €1.34 per share to be paid, subject to shareholder approval
• Board approved program to buyback company shares for a value of up to €1.5 billion, to be executed in the open market by end 2023

All financial comparisons are to FY 2021 Pro Forma(1)

AMSTERDAM - Stellantis N.V. posted record full year 2022 results with €16.8 billion Net profit and €23.3 billion Adjusted Operating Income (AOI), and demonstrated fast progress on Dare Forward 2030 as the Company gained momentum on electrification, software development and vertical integration at a pivotal time for the industry.

“In addition to our record financial results and the focused execution of the Dare Forward 2030 strategic plan, we also demonstrated the effectiveness of our electrification strategy in Europe. We now have the technology, the products, the raw materials, and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep® from 2024. My deep appreciation to each and every employee, and our partners, for their contributions to a more sustainable future.”
Carlos Tavares, CEO

Stellantis is already on pace to deliver on its Dare Forward 2030 strategic plan commitments, while working to preserve freedom of mobility. Launched in March 2022, Dare Forward 2030 is built upon three fundamental pillars that will lead the Company to achieve its financial ambition of doubling Net Revenues to €300 billion by 2030 (as compared to 2021), while sustaining double-digit AOI margins throughout the decade.
CARE: Stellantis has the ambition to achieve carbon net zero by 2038 with an intermediate target of cutting carbon emissions in half by 2030(5), compared to 2021 levels. In 2022, the Company reduced its industrial and real estate (Scopes 1 & 2) carbon footprint by 11%(6). As it pushes to become No. 1 in customer satisfaction, Stellantis achieved an ∼30% reduction in vehicle defect rates three months after delivery to the end-customer. All of the Company’s key HR processes have been aligned with its diversity and inclusion commitments and 27% of leadership positions are now held by women, targeting 30% by 2025.
TECH: Stellantis’ electrification push accelerated with a 41% increase in global battery electric vehicle (BEV) sales year-over-year, to 288,000 vehicles in 2022. With 23 BEVs now in market, the BEV portfolio will more than double to 47 by the end of 2024, supporting the target to have more than 75 BEVs globally and global BEV sales of 5 million by 2030. Notably the Jeep® brand revealed the first phase of its BEV offensive with the launch of Jeep Avenger, the first-ever fully electric Jeep SUV and now the European Car of the Year 2023. It also premiered the all-electric Jeep Recon and Wagoneer “S”, both intended for the North American and other major global markets. The Ram brand followed, unveiling earlier this month its highly anticipated all-new, all-electric Ram 1500 REV production version that will be available in Q4 2024.
Stellantis is No. 1 in EU30 Commercial Vehicles BEV sales and No. 2 in EU30 for overall BEV sales with the Fiat New 500 as the No. 1 selling BEV in Italy and the Peugeot e-208 No. 1 in France. The Company is positioned as No. 1 in the U.S. for plug-in hybrid electric vehicle (PHEV) sales, with the Jeep Wrangler 4xe as the No. 1 selling PHEV in both the U.S. and Canada.
The Company confirmed locations for five gigafactories (three in Europe and two in North America), with Automotive Cells Company, Samsung SDI and LG Energy Solution. As vertical integration of raw materials continues to be a focus, separate agreements were signed with Vulcan Energy, Controlled Thermal Resources, Alliance Nickel Limited (formerly GME Resources Limited), Element 25 and Terrafame.
Stellantis deepened its strategic partnership with Archer, announcing plans to jointly manufacture Midnight, Archer’s flagship electric vertical take-off and landing (eVTOL) aircraft to help ease urban transportation congestion. In order to speed development of its hydrogen-powered offerings, the Company announced plans to acquire a stake in Symbio(7), a global leader in zero-emission hydrogen mobility. Additionally, Stellantis Ventures made 10 start-up investments with three projects to launch in 2023.
Stellantis’ software advancements gained ground enabled by the deep partnerships with Amazon, Foxconn and Qualcomm, the hiring of more than 1,500 software engineers, and the ∼700 graduates from the Software and Data Academy. Meanwhile, the development of STLA Brain, STLA SmartCockpit and STLA AutoDrive software platforms is progressing. Prototype road testing to begin in the second half of 2023, with the start of technology production at the end of 2024. With the acquisition of aiMotive, Stellantis enhanced its artificial intelligence and autonomous driving core technology. The acquisition supplements existing work with BMW and Waymo.
The software growth strategy is on track to achieve its 2030 targets of €20 billion Net Revenues and ∼40% Gross Margin, as the business grew by 25% in 2022 vs. 2021. At the end of the year, Stellantis’ monetizable connected car parc (based on 5-year rolling car parc) was ∼13 million vehicles, targeting ∼34 million by 2030. STLA Brain and standardization efforts from legacy systems and solutions to significantly reduce ECUs per vehicle by >50%.
VALUE: Stellantis prioritized its seven accretive businesses to complement its core business and achieved year-over-year(1) growth.

• U.S. Finco operations continued to expand, with approximately 90% of U.S. dealers enrolled to date
• Unveiled fulsome Circular Economy strategy, including first Circular Economy Hub in Italy and strategic partnership with Qinomic to develop proof of concept for electric retrofitting of light commercial vehicles
• Aramis Group reinforced its Europe online pre-owned car sales leadership with acquisitions in Italy and Austria. The Company is also expanding dealer online sales of pre-owned vehicles through Spoticar’s launch in North America in 2023
• Mobilisights, an independent business unit fully dedicated to growing the Company’s data as a service business, launched in January 2023

Importantly, all regions are growing and delivering record profitability. The “Third Engine” – Middle East & Africa, South America, and China and India & Asia Pacific – grew Net revenues by 34% y-o-y(1) and more than doubled its AOI contribution to €3.8 billion for 2022, making progress to achieve the target of more than 25% of the Company’s global Net revenues by 2030.
What Stellantis has demonstrated in its initial two years is just a glimpse of the major impact the Company expects to have on mobility ecosystems in the future.
Regarding the €4.2 billion ordinary dividend corresponding to €1.34 per share to be paid, subject to shareholder approval the expected calendar for NYSE, Euronext Milan and Euronext Paris will be as follows: (i) ex-date April 24, 2023, (ii) record date April 25, 2023, and (iii) payment date May 4, 2023.
On February 22, 2023 at 2:00 p.m. CET / 8:00 a.m. EST, a live webcast and conference call will be held to present Stellantis’ Full Year 2022 Results. The webcast and recorded replay will be accessible under the Investors section of the Stellantis corporate website at www.stellantis.com. The presentation material is expected to be posted under the Investors section of the Stellantis corporate website at approximately 8:00 a.m. CET / 2:00 a.m. EST on February 22, 2023.
Upcoming Events:

• March 29, 2023 Freedom of Mobility Forum, initiated by Stellantis and facilitated by Wavestone
• April 13, 2023 Annual General Meeting

 

[rickaren]

February 21, 2023
Car Brands Owned By Fiat
byOluwayemisi Abolade

Fiat is an Italian automobile manufacturer that has been in business since 1899. It is currently the largest automotive manufacturer in Italy, selling vehicles in more than 140 countries across the globe.

Fiat has many vehicle brands, from luxury models to economical city cars. Some of the car brands owned by Fiat will be listed here on our blog.
Our article will cover each of these brands, highlighting the car brands owned by Fiat and the features associated with them.
Let’s go!
1. Fiat
Fiat is the first on our list of car brands owned by Fiat by Chrysler Automobiles. The company was founded in 1899 in Turin, Italy. Fiat produces many cars, from city cars and SUVs to commercial vehicles and performance models.
Fiat is known for producing small, reliable, and affordable cars. The current lineup includes the 500, 500L, 500X, Panda, Tipo, and Punto. Fiat also manufactures luxury models under its high-end Alfa Romeo brand.
The Fiat car brands owned by Fiat have been used on many different models over the years, including the Fiat 128 and 128 Spider, Fiat 500, Abarths, and 118. Fiat is a car brand owned by Fiat Chrysler Automobiles. It was founded in 1897 as Societa Anonima Fabbrica Italiana Automobili Torino (Italian State Factory for the Production of Cars).

The first vehicle produced by Fiat was the Cisitalia, which debuted on June 26th, 1921. Over time, they have made many different models, including the Abarth 500 and 118 Spyder; they also produced their own version of the Lancia Stratos, “Fiat Strada.”


2. Abarth Automotive
Fiat Abarth is also on our list of car brands owned by Fiat and an Italian automobile manufacturer founded in Turin by Carlo Abarth in 1949. The company was acquired by Fiat Group in 1985, with its headquarters remaining in Turin, Italy.
Former automobile designer Giotto Bizzarrini has run it since December 2016. Abarth & C. S.pA car brands owned by Fiat was founded by Carlo Abarth and his brother-in-law Elio Zagato in 1949 as Societa Anonima per la Ricostruzione Industriale (SARI), the first one for a new brand name “Carrello.”
In 1999 it became known as Società Anonima Edile Industria Automobili Torino SpA (SAEI), only to revert back again later on into Fiat Automobiles Spa – Società per azioni con il controllo industriale del Gruppo Finmeccanica; then finally back again under its original name of SAEI/Carrozzeria Abarth SpA.
3. Alfa Romeo Automotive
Alfa Romeo Automobiles S.p.A., commonly known as simply Alfa Romeo, is an Italian luxury manufacturer of car brands owned by Fiat. It has been owned by Fiat Chrysler Automobiles since January 1, 2013.

The company’s history dates back to 1910, when it was founded as Società Anonima Lombarda Automobili by a group from Milan and Bologna. Later, it was renamed Società Anonima Torinese Automobili (SAT) and produced its first car in 1915.
The name Alfa Romeo car brands owned by Fiat derives from one of the founders’ names: Alfonso Maria Di Vincenzo Rafaele Luigi’s son-in-law Giuseppe “Nino” Parlato, who was also named after his mother Giulia Parlato. The company went bankrupt in 1922, but the founder re-established operations later that year under new ownership, focusing on luxury cars rather than sporty models.
4. Chrysler Automotive
Chrysler was founded in 1925 and acquired by Fiat in 2014. It’s a car brand owned by Fiat Chrysler Automobiles (FCA). The company makes luxury cars, SUVs, and trucks.
Chrysler car brands owned by Fiat have produced some of the most iconic vehicles in history, including the Dodge Charger and Plymouth Barracuda muscle cars; Spirit compact SUV; PT Cruiser convertible coupe hatchback sedan; Town & Country minivan/van; 300C mid-size sedan/coupe hybrid sports car with a turbocharged V8 engine developed specifically for performance driving; Jeep Wrangler four-door pickup truck with a full-time all-wheel-drive system designed especially for off-road use.

5. Dodge Automotive
Dodge is a brand of Fiat Chrysler Automobiles (FCA). Dodge was founded by brothers John, Horace, and Charles Edmondson in 1914. The company’s first product was a car called the “Dodge Brothers Automobile Company.” In 1928, Chrysler bought out Dodge Brothers, renaming it to Chrysler Corporation, and then in 2009, they merged with Fiat–the rest is history!
6. Ferrari Automotive
Ferrari is a luxury sports car manufacturer based in Maranello, Italy. The company car brands owned by Fiat was founded by Enzo Ferrari and made its debut in the 1930s.
Since then, it has produced some of the most expensive and powerful cars on Earth, including its own line of supercars: LaFerrari, LaFerrari Aperta (open-top), F12 Berlinetta (hardtop/convertible), FF (mid-engine), and more recently P4/5XX). However, sales have declined in recent years as younger generations opt for more affordable models like BMW 1 Series M Coupe or Audi TT RS Sportback.

7. Fiat Automotive
Fiat is an Italian automobile car brands owned by Fiat manufacturer that produces cars, vans, SUVs, and light commercial vehicles. The company was founded in 1899 and is headquartered in Turin, Italy.
Fiat is best known for its iconic small city cars, such as the Fiat 500, the 500L, and the Panda. Fiat’s range of vehicles includes hatchbacks, sedans, station wagons, and the popular Abarth performance line.
8. Fiat Professional Automotive
Fiat Professional is an automotive brand of Fiat Group Automobiles, a division of the Fiat Group. Fiat Professional produces vans, light commercial vehicles, and truck-derived buses for the commercial and industrial sectors worldwide.
Its range includes light commercial vans, pickups, cab chassis vehicles, and light trucks. Fiat Professional is a division of the Italian car manufacturer Fiat Group Automobiles S.p.A.
9. Jeep Automotive
Jeep is an American automobile brand and a division of FCA US LLC, created in 1941. Jeep car brands owned by Fiat offer a variety of vehicles, including the Cherokee, Grand Cherokee, Wrangler, Patriot, Renegade, and Compass.

Moreso, they offer products ranging from small, fuel-efficient models to luxury, large-capability SUVs. They are known for their off-road ability and performance, as well as for their reliability and versatility.
10. Maserati Automotive
Maserati car brands owned by Fiat were founded on December 1, 1914, by Aldo Merzario, a designer with experience in the automotive industry. It has since become one of Italy’s most prestigious car manufacturers and has won many awards for its cars. Maserati’s headquarters are located in Modena, Italy; however, it also operates dealerships worldwide, including in New York City.
11. SRT Automotive
SRT Automotive is an American performance car brands owned by Fiat manufacturer that produces high-performance versions of Chrysler, Dodge, and Jeep vehicles. The company was founded in 2004 as a subsidiary of Fiat Group Automobiles to develop and market luxury cars with the SRT (Street and Racing Technology) brand name.
SRT’s car brands owned by Fiat first vehicle was the Viper GTS, which was introduced at the North American International Auto Show in Detroit on January 12th, 2005. It featured a 554 HP (412 kW) 6.1 L V8 engine coupled with an automatic transmission with paddle shifters for manual shifting capability.

The second vehicle from SRT was called “The Viper,” based on their old Viper concept car[7]. It featured a naturally aspirated 727 HP (515 kW) 8-cylinder engine coupled with an automatic transmission with paddle shifters for manual shifting capability. Finally, two different versions were available: standard coupe or convertible models that could be converted between them depending on how much room inside was needed by one driver or another person traveling along with family members, etc.
12. Lancia Automotive
Lastly, Lancia was an Italian car brands owned by Fiat manufacturer founded in 1906 by Vincenzo Lancia. His first car was the Tipo 51 or 12 HP, which featured a complete electrical system and four-wheel brakes.
The company car brands owned by Fiat began as a motorcycle producer and quickly moved on to producing motor vehicles after World War I. Listed No. 1 in the Top 10 Cars of All Time by Car Culture Magazine, Lancia has become one of Italy’s most popular brands over the past century.
Lancia has been involved with Formula One racing since 1950, when it became part of Fiat Group Automobiles (FGA). Currently, there are three different models: The Ypsilon range from 1 liter up to 2-liter displacement; Ghibli/Journey ranges from 3 liters up to 4 liters displacements; Gamma range from 5 liters up to 6 liters displacements.

Conclusion

In conclusion, Fiat is a very successful car manufacturer, and its brands are some of the most popular in the world. They have been around since 1899 and continue to produce award-winning car brands owned by Fiat today. Fiat has a wide range of models that appeal to many different types of customers, including those who love luxury vehicles like Maseratis or even Jeep Wranglers!

 

[rickaren]

February 27, 2023

Stellantis Announces Strategic Copper Investment in Argentina, Reinforcing Commitment to Reaching Carbon Net Zero by 2038

• $155 million investment in McEwen Copper helps Stellantis secure projected copper demand starting in 2027
• Stellantis becomes second largest shareholder
• Sustainable copper mine, Los Azules project, to be located in Argentina
• Cathode copper is a strategic raw material for the production of electric vehicle batteries
  

AMSTERDAM - Stellantis today announced a $155 million investment in a project located in Argentina, which will make a major contribution to the Company’s plan to become carbon net zero by 2038. The Company is acquiring a 14.2% equity stake in McEwen Copper, a subsidiary of Canadian mining company McEwen Mining, which owns the Los Azules project in Argentina and the Elder Creek project in Nevada, USA.
With this stake, Stellantis will become McEwen Copper’s second largest shareholder, along with Rio Tinto, through its copper leaching technology venture, Nuton. Los Azules plans to produce 100,000 tons per year of cathode copper at 99.9% purity starting in 2027 and the resources can secure the operation for at least 33 years.
“Stellantis intends to lead the industry with the commitment to be carbon net zero by 2038 – a goal that requires innovation and a complete redefinition of the entire business,” said Carlos Tavares, Stellantis CEO. “We are taking important steps in Argentina and Brazil, with the aim of decarbonizing mobility and ensuring strategic supplies of raw materials necessary for the success of the Company’s global electrification plans.”
Copper is a strategic raw material for the future of electric mobility, and it is estimated that global demand for the conductive metal will triple in the coming years. By making this investment in one of the top 10 international projects in development of this commodity, Stellantis will be able to supply some of the projected copper demand starting in 2027.
McEwen Copper Chief Executive Rob McEwen said: “Stellantis and McEwen are ideal partners for a large project like Los Azules. Together, we share a collective vision to build a mine for the future based on regenerative principles and innovative technologies, that can achieve net-zero carbon emissions by 2038! We are committed to delivering green copper to Argentina and the world, a product that will contribute to the electrification of transportation and the protection of our atmosphere.”
The announcement reinforces South America’s participation in the implementation of the Dare Forward 2030 long-term strategic plan committed to cutting-edge freedom of mobility.
As part of the Dare Forward 2030 strategic plan, Stellantis expects to achieve a 100% passenger car battery electric vehicle (“BEV”) sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. In Brazil, it is targeting approximately 20% low emission vehicle (“LEV”) sales mix by the end of the decade. The plan is anchored in an ambitious decarbonization strategy consistent with science-based recommendations. Through aggressive and clear targets, by 2030(1) it plans to reduce its carbon emissions footprint by half versus 2021 metrics, putting the Company on track to achieve carbon net zero by 2038(2).

(1) scopes 1-2-3 intensity tons of CO2 equivalent/vehicle

 

[rickaren]

Stellantis to cut up to 2,000 workers in Italy this year
Alberto Brambilla
Bloomberg
Stellantis NV is planning to cut as many as 2,000 jobs in Italy this year to further reduce its workforce in Fiat’s former home country as the transition to electric vehicles takes its toll.
The French-Italian carmaker, formed from the 2021 merger of Fiat Chrysler and PSA Group, and local unions agreed on the reductions that represent about 4.3% of its 47,000 workforce in the country. The decision follows similar cuts last year.

The planned exits will come mostly from workers not directly involved in production, who will receive benefits that include early retirement and as much as two years of salary for older workers, unions said Monday in a statement.
“The cost of electrification is going to have an impact on the footprint of business that we are going to have around the world,” Chief Executive Officer Carlos Tavares said. When asked about potential further job cuts in a separate interview with Bloomberg Television, he said nothing is off the table.

Carmakers have been grappling with inflation and supply-chain disruption as they retool their factories to transition to battery-powered cars, prompting a cost-cutting drive. Ford Motor Co. earlier this month said it will cut 3,800 positions mostly in Germany and the UK to make savings and as producing EVs requires fewer workers. Stellantis is idling a factory making Jeep models in Illinois from this month, citing the shift to battery power.

 

[rickaren]

March 8, 2023

Stellantis and the South African Authorities Sign Framework Agreement to Manufacture Vehicles in South Africa

• Stellantis signs Memorandum of Understanding with the Industrial Development Corporation (IDC) and Department of Trade, Industry and Competition (the dtic) to develop a manufacturing facility in South Africa
• Cements the Region’s Dare Forward 2030 ambition to sell one million vehicles by 2030 with 70% regional production autonomy
• Strengthens position in South African market with manufacturing project to be completed by 2025
  

CENTURION – Stellantis has signed a Memorandum of Understanding (MOU) with the Industrial Development Corporation (IDC) and the Department of Trade, Industry and Competition (the dtic) to develop a manufacturing facility in South Africa. The signing ceremony took place at the office of Mr. Ebrahim Patel, Minister of Trade, Industry and Competition, and was attended by Mr. TP Nchocho, CEO of the IDC, Mr. Samir Cherfan, Stellantis Middle East and Africa Chief Operating Officer, and Mr. Leslie Ramsoomar, Stellantis South Africa Managing Director.

Seated from left to right: Mr. TP Nchocho CEO of the IDC; Ms. Malebo Mabitje-Thompson, Acting Director General the dtic; and Mr. Leslie Ramsoomar, Stellantis South Africa Managing Director
Standing from left to right: Mr. Ebrahim Patel, Minister of Trade and Industry & Competition and Mr. Samir Cherfan, Stellantis Middle East and Africa Chief Operating Officer

“I am pleased that Stellantis is looking to South Africa to expand its manufacturing footprint,” Mr. Ebrahim Patel, Minister of Trade, Industry and Competition said today. “The company is a large global- automaker, with a range of well-known brands. South Africa is a great investment destination with significant car-making capacity. We look forward to working closely with Stellantis to enable the company to set up a plant that will expand our manufacturing base and create local jobs,” he said.
“This is an important step in our Dare Forward 2030 strategic plan towards strengthening our leadership in the Middle East and Africa region and becoming a major player in South Africa,” said Mr. Samir Cherfan, Stellantis Middle East and Africa Chief Operating Officer. “The manufacturing site in South Africa will be a new building block in our industrialization strategy that includes the plan to sell one million vehicles in the region by 2030 with 70% regional production autonomy and will bring us closer to our customers’ needs in the region.”
The manufacturing plant is planned for setup in a South African Special Economic Zone (SEZ). The aim is to complete this manufacturing project by 2025.
“An investment partner like Stellantis is an amazing opportunity for South Africa,” said Mr. TP Nchocho, CEO of the IDC. “Their track record in manufacturing plants around the world is impressive and we look forward to a joint venture with Stellantis to build a successful plant in South Africa. Another brick in the foundation towards our target of producing a million cars locally in SA.”

About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world's leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.

 

[rickaren]

March 9, 2023

Stellantis Announces Allocation of BEV-centric STLA Large Vehicles to Cassino Assembly Plant

• Cassino plant in Italy produces premium vehicles for Alfa Romeo and Maserati brands
• STLA Large is one of four BEV-centric platforms that underpins Stellantis electrification plan
• Electrification of Stellantis products supports goals of Dare Forward 2030 strategic plan

AMSTERDAM – The Stellantis Cassino Assembly Plant in Italy, producer of vehicles for the premium and luxury brands, Alfa Romeo and Maserati, will add production of vehicles, to be shared at a later date, based on the flexible, BEV-centric STLA Large platform.
The announcement was made today by Stellantis CEO Carlos Tavares as he visited the technically advanced assembly plant, which builds the Alfa Romeo Giulia and Stelvio as well as Maserati Grecale vehicles.
“The Cassino plant has a rich history of innovation and technology,” said Stellantis CEO Carlos Tavares. “The vehicles we are designing on the STLA platforms will revolutionize the driving experience with cutting-edge features and capabilities, so we trust the skilled workers and the Stellantis site management to master our bold cost and quality targets. The support of our workforce in Cassino and the foresight of local and national officials further electrify our efforts to delight customers with clean, safe and affordable mobility.”
Cassino is the second Stellantis plant publicly named to produce vehicles based on the STLA Large platform, joining the Windsor Assembly Plant in Canada.
Opened in 1972, the Cassino Assembly Plant in Piedimonte San Germano, south central Italy is a highly automated plant using more than 1,200 robots and includes stamping, plating, painting and plastic parts operations. The plant puts a high emphasis on energy and resource conservation. It has cut its use of water by half since 2017 and captures solar energy via photovoltaic cells positioned in its parking lots.
STLA Large is one of four BEV-centric, highly flexible vehicle architectures that underpins the Stellantis electrification plan. The STLA Large platform, the base for several upcoming vehicles from Stellantis brands, is designed to deliver up to 800 km/500 miles of electric range with Stellantis-designed electric drive modules (EDMs) and modular battery packs. Designers and engineers have the flexibility to adjust the platform’s length and width and powertrain configuration to tailor it to specific product designs.
Stellantis is investing more than €30 billion through 2025 in electrification and software to deliver BEVs that meet customer demands, including class-leading fast charge capability.
The investment is a key component of the Dare Forward 2030 strategic plan, which is led by deep emission cuts to slash CO2 in half by 2030, benchmarking 2021 metrics, and achieve carbon net zero by 2038 with single digit percentage compensation of the remaining emissions. Core targets for Dare Forward 2030 also include 100% of passenger car sales in Europe and 50% of passenger car and light-duty truck sales in the United States to be BEVs by the end of the decade; the ambition of doubling Net Revenues by 2030 (versus 2021) and sustaining double-digit Adjusted Operating Income margins throughout the decade; and the aim to become number one in customer satisfaction for products and services in every market by 2030.