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Discussion Starter · #41 ·
Fiat will also only manufacture electric cars in 2030 | Motor

Explica .co June 7, 2021





Fiat has officially announced its conversion to a 100% electric car manufacturer. It will be between 2025 and 2030.
Little by little, car manufacturers announce their plans to say goodbye to polluting fuel vehicles. Who already has it very clear is Fiat.

As the CEO of the company, Olivier François, explains on the Stellantis website: “We are exploring the territory of sustainable mobility for all: this is our biggest project. Between 2025 and 2030, our range of products will gradually become electric. It will be a radical change for Fiat. “

He continues: “The decision to launch the New 500, electric and electric only, was actually made before COVID-19. By then we were aware that the world could not bear any more compromises.”

Fiat wants its mythical Fiat 500 to be the electric car revolution, affordable for everyone, just as in the 60s the Fiat 500 (or the Seat 500 in Spain) made it possible for all families to buy a car.

This is how Olivier François puts it: “We have an icon, the 500. An icon always has its cause and the 500 is no exception: in the 50s, it opened access to mobility for everyone. Today, in this new scenario, it has a new mission – our mission -: to create sustainable mobility for all. It is our duty to bring electric cars that cost no more than internal combustion engine cars to the market as soon as we can, in line with the fall in the cost of cars. batteries. We are exploring the territory of sustainable mobility for all – this is our biggest project. “
This device replaces the old radio in an old car and offers Android Auto or Apple CarPlay with voice assistants from Google and Siri, apps from Google, YouTube, Spotify and much more.

Fiat, as well as Ford (in Europe) and Volvo, have already announced what other companies will soon do. Countries like the UK, Japan or the Netherlands they will ban the sale of fuel cars in 2030, so manufacturers will have to do the conversion before that date, if they want to continue selling in those and other countries.

In Spain the government has also set a date, although it will be later: in 2040. But the objective is to reduce it, before reaching it.
 

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Discussion Starter · #42 ·
Stellantis Intensifies Electrification While Targeting Sustainable Double-digit Adjusted Operating Income Margins in the Mid-term
  • Plans to invest more than €30 billion through 2025 in electrification and software, while continuing to be the automotive efficiency frontrunner, with investment efficiency 30% better than industry average
  • Targeting over 70% of sales in Europe and over 40% in the United States to be low-emission vehicles (LEV) by 2030
  • All 14 brands committed to offering best-in-class fully electrified solutions
  • Delivering battery-electric vehicles (BEVs) that meet demands of customers, with ranges of 300-500 miles (500-800 km) and class-leading fast charging capability of 20 miles (32 km) per minute
  • Four flexible BEV-by-design platforms, scalable family of three electric drive modules and standardized battery packs to cover all brands and segments
  • Platforms designed for long life via software and hardware upgrades
  • Global electric vehicle (EV) battery sourcing strategy of over 260GWh by 2030, supported by five “gigafactories” between Europe and North America
  • Plans include dual battery chemistries: a high energy-density option and a nickel cobalt-free alternative by 2024
  • Solid state battery technology introduction planned in 2026



July 8, 2021 , Amsterdam - Today, Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) presented a comprehensive electrification strategy that delivers exciting, class-leading vehicles for the company’s iconic brands, while leveraging in-house expertise, partnerships and joint ventures to deliver advanced technology at affordable prices. This strategy will allow the company to target sustainable, double-digit adjusted operating income margins in the mid-term.

“The customer is always at the heart of Stellantis and our commitment with this €30 billion plus investment plan is to offer iconic vehicles that have the performance, capability, style, comfort and electric range that fit seamlessly into their daily lives,” said Carlos Tavares, Chief Executive Officer, Stellantis. “The strategy we laid out today focuses the right amount of investment on the right technology to reach the market at the right time, ensuring that Stellantis powers the freedom of movement in the most efficient, affordable and sustainable way.”

Financial Performance
Stellantis plans to achieve increased profitability in the coming years. This will be supported by the execution of the synergy opportunities arising from the formation of Stellantis, with a forecast of annual cash synergies of more than €5 billion at steady state, the roadmap of battery cost reductions, and the continued optimization of distribution and production costs and realization of new revenue streams, in particular from connected services and future software business models.

As a result, Stellantis is targeting to achieve sustainable, double-digit adjusted operating income margins in the mid-term (~2026), making the company a benchmark in profitability in the provision of electrified mobility to customers on a global basis.

Stellantis intends to become the market leader in low-emission vehicles (LEVs). Through 2030, Stellantis’ LEV mix for passenger cars in Europe is targeted to steadily grow to over 70% – 10 percentage points ahead of current industry assumptions for overall market mix. In the U.S., Stellantis’ LEV mix for passenger cars and light-duty trucks is expected to be more than 40% by 2030.

To execute this strategy, Stellantis plans to invest more than €30 billion through 2025 in electrification and software development, including equity investments made in joint ventures to fund their activities, while targeting to continue to be 30% more efficient than the industry with respect to total Capex and R&D spend versus revenues.

The company remains committed to growing its commercial vehicle leadership in Europe and strengthening its position in North America while aiming to be the global leader in e-commercial vehicles. Leveraging knowledge and embracing synergies, the commercial vehicle electrification rollout will extend to all products and all regions over the next three years, including the delivery of hydrogen fuel cell medium vans by the end of 2021.

The Stellantis electrification roadmap encompasses the entire value chain. The company’s EV battery sourcing strategy is to secure more than 130 gigawatt hours (GWh) of capacity by 2025 and more than 260 GWh by 2030. The EV battery and component needs will be met with a total of five “gigafactories” in Europe and North America, completed with additional supply contracts and partnerships to support total demand.

Stellantis has signed memorandums of understanding (MOUs) with two lithium geothermal brine process partners in North America and Europe to ensure a sustainable supply of lithium, identified as the most critical battery raw material with regard to availability, as well as have the ability to integrate lithium into the supply chain once available.

In addition to sourcing strategies, Stellantis’ technical expertise and manufacturing synergies will drive battery costs lower. Electric vehicle battery pack costs are targeted to be reduced by more than 40% from 2020 to 2024 and by more than an additional 20% by 2030. All aspects of the battery pack play a role in reducing the costs – optimizing the overall pack, simplifying the format of the modules, increasing the size of the battery cells and upgrading the battery chemistry.

The company intends to maximize the full value of the battery life cycle through repair, remanufacturing, second-life use and recycling, as well as ensure a sustainable system that prioritizes customer needs and environmental concerns.

Customer Focused
Affordability is a priority at Stellantis, as the company is targeting for the total cost of ownership of EVs to be equivalent to internal combustion engine vehicles by 2026.

Electrification is not a “one size fits all” plan at Stellantis. Each of the company’s 14 iconic brands is committed to offering best-in-class fully electrified solutions and doing so in a way that enhances the DNA of each brand. Stellantis revealed the following statements expressing the electrification approach of each brand:
  • Abarth – “Heating Up People, But Not the Planet”
  • Alfa Romeo – “From 2024, Alfa Becomes Alfa e-Romeo”
  • Chrysler – “Clean Technology for a New Generation of Families”
  • Citroën – “Citroën Electric: Well-Being for All!”
  • Dodge – “Tear Up the Streets… Not the Planet”
  • DS Automobiles – “The Art of Travel, Magnified”
  • Fiat – “It’s Only Green When It’s Green for All”
  • Jeep® – “Zero Emission Freedom”
  • Lancia – “The Most Elegant Way to Protect the Planet”
  • Maserati – “The Best in Performance Luxury, Electrified”
  • Opel/Vauxhall – “Green is the New Cool”
  • Peugeot – “Turning Sustainable Mobility into Quality Time”
  • Ram – “Built to Serve a Sustainable Planet”
  • Commercial Vehicles – “The Global Leader in e-Commercial Vehicles”
Driving range and rapid recharges are key to widespread consumer acceptance of BEVs. Stellantis meets this challenge with BEVs that will deliver ranges between 300-500 miles (500-800 km) and with class-leading fast charging capability of 20 miles (32 km) per minute.

Stellantis will offer a full suite of solutions for private, business and fleet customers that help simplify the ownership journey. Efforts will include providing day-to-day smart charging offers using green energy sources, tapping into existing partnerships to expand charging options and accelerating smart grid use.

The company intends to meet the demands of its varied customers by supporting the development of fast charging networks across Europe, enabled by an MOU signed between Free2Move eSolutions and Engie EPS. The intention is to mimic Free2Move eSolutions’ business model for the North American market.

Smart Technology Enablers
Four BEV-centric platforms are the backbone of the electrified vehicles from Stellantis brands. The platforms are designed with a high level of flexibility (length and width) and component sharing, delivering economies of scale as each platform can support production of up to 2 million units per year.

The four platforms are:
  • STLA Small, with a range up to 300 miles (500 kilometers)
  • STLA Medium, with a range up to 440 miles (700 kilometers)
  • STLA Large, with a range up to 500 miles (800 kilometers)
  • STLA Frame, with a range up to 500 miles (800 kilometers)
Propulsion includes a family of three electric drive modules (EDM) that combine the motor, gearbox and inverter. These EDMs are compact, flexible and can be easily scaled. The EDMs can be configured for front-drive, rear-drive, all-wheel drive and 4xe.

The combination of the platforms, EDMs and high energy-density battery packs will deliver vehicles with best-in-class performance in efficiency, range and recharging.

A program of hardware upgrades and over-the-air software updates will extend the life of the platforms well into the next decade. Stellantis will develop software and controls in-house to maintain the characteristics unique to each brand.

Battery packs will be tailored for a variety of vehicles – from smaller city cars to energy-dense packs for performance vehicles and trucks. Use of two battery chemistries is planned by 2024 to support various customer needs: a high energy-density option and a nickel cobalt-free alternative. By 2026, the first competitive solid state battery technology is targeted to be introduced.

Stellantis currently has or is completing several key technology joint ventures, ranging from e-powertrain and e-transmission operations to battery cell chemistry and production and digital cockpit and personalized connected services. These partnerships provide Stellantis the opportunity to leverage not only in-house competencies, but also the expertise of the partners in order to bring new technology and solutions to market more rapidly, while optimizing capital allocation to further enhance Stellantis' competitiveness in the marketplace.

“Our electrification journey is quite possibly the most important brick to lay as we start to reveal the future of Stellantis just six months after its birth, and now the entire company is in full execution mode to exceed every customer’s expectations and accelerate our role in redefining the way the world moves,” said Tavares. “We have the scale, the skills, the spirit and the sustainability to achieve double-digit adjusted operating income margins, lead the industry with benchmark efficiencies and deliver electrified vehicles that ignite passion.”

For additional information related to the Stellantis EV Day 2021, refer to the investors section of the of the corporate website at www.stellantis.com.

Stellantis
Stellantis (NYSE: STLA) is one of the world’s leading automakers and a mobility provider, guided by a clear vision to offer freedom of movement with distinctive, affordable and reliable mobility solutions. In addition to the Group’s rich heritage and broad geographic presence, its greatest strengths lie in its sustainable performance, depth of experience and the wide-ranging talents of employees working around the globe. Stellantis will leverage its broad and iconic brand portfolio, which was founded by visionaries who infused the brands with passion and a competitive spirit that speaks to employees and customers alike. Stellantis aspires to become the greatest, not the biggest, while creating added value for all stakeholders, as well as the communities in which it operates.

FORWARD-LOOKING STATEMENTS
This communication contains forward-looking statements. In particular, statements regarding future financial performance and the Company’s expectations as to the achievement of certain targeted metrics, including revenues, industrial free cash flows, vehicle shipments, capital investments, research and development costs and other expenses at any future date or for any future period are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group’s current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.

Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the impact of the COVID-19 pandemic, the ability of the Group to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; the Group’s ability to expand certain of their brands globally; its ability to offer innovative, attractive products; its ability to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the intense level of competition in the automotive industry, which may increase due to consolidation; exposure to shortfalls in the funding of the Group’s defined benefit pension plans; the ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the establishment and operations of financial services companies; the ability to access funding to execute the Group’s business plans and improve their businesses, financial condition and results of operations; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in the Group’s vehicles; the Group’s ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with our relationships with employees, dealers and suppliers; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in the Group's vehicles; developments in labor and industrial relations and developments in applicable labor laws; exchange rate fluctuations, interest rate changes, credit risk and other market risks; political and civil unrest; earthquakes or other disasters; the risk that the operations of Peugeot S.A. and Fiat Chrysler Automobiles N.V. will not be integrated successfully and other risks and uncertainties.

Any forward-looking statements contained in this communication speak only as of the date of this document and the Group disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Group’s financial results, is included in the Group's reports and filings with the U.S. Securities and Exchange Commission, AFM, CONSOB and AMF.
 

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Discussion Starter · #43 ·
FCA US Sales up 32 Percent in Q2 2021

07/09/2021


FCA US LLC announced that its Q2 2021 sales increased 32 percent year over year. Retail sales, in particular, grew 27 percent in the quarter, and fleet sales made up 12 percent of total sales. Take a look at how each of its individual car brands performed.

Total sales for Jeep rose 19 percent year over year, making it the brand’s second-best Q2 for retail sales in the U.S. Jeep sold the most units of any other FCA US brand in Q2 2021 at 210,439. The Gladiator had its best quarter ever for U.S. retail sales and total sales at 29,962 units. It was also the best quarter ever for Wrangler retail sales in the states.




Total sales for Ram reached 187,750 units. This is 47 percent higher than in Q2 2020. Total sales for Ram pickup trucks climbed 40 percent, the ProMaster van saw a 129 percent growth, and the ProMaster City had a 132 percent growth.
Dodge
The 2021 Dodge Durango driving on the streetThe 2021 Dodge Durango
Photo: FCA
Dodge had a 42 percent increase in total sales year over year with 62,314 units sold. Total sales for the Challenger, Durango, and Charger rose 52 percent, 53 percent, and 95 percent, respectively. This was the best retail Q2 for the Durango since 2005 as well as the best quarter ever for Charger Scat Pack and Challenger Scat Pack total sales.


Chrysler

The 2021 Chrysler Pacifica Pinnacle AWD parked with its back doors openThe 2021 Chrysler Pacifica Pinnacle
Photo: FCA

Chrysler also had its total sales increase year over year by 36 percent, selling 18,900 units. The Pacifica Hybrid played an important role in this growth, recording its highest ever Q2 total sales.


 

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Discussion Starter · #44 ·
A Brief History Of Chrysler/FCA/Stellantis Promises That Weren’t Kept

By Tim Healey on July 16, 2021




Stellantis
Stellantis, formerly known as Fiat Chrysler Automobiles, spent some time last week promoting “EV Day” and talking about its EV plans.

We covered the event and the company’s plans. We’ve also noted in the past that many OEMs are talking a big game on EVs but it’s anyone’s guess if they’ll meet the timelines and goals they’ve set for themselves (speaking generally here, and not just about Stellantis).
While the future is up in the air, we do have a record of the past, and speaking about Stellantis specifically, that past has been one of unkept promises.

We can go big and talk about how the “merger of equals” never really was, or small and talk about the Dodge Razor roadster, which could’ve given the company a true competitor for the Miata.

Or we can go EV specific and talk about the company’s failure, just about a decade ago, to bring a promised EV (or three) to market.

Don’t remember this? I do. Probably cause it was a big deal at the time. Remember, there really weren’t EVs on sale yet, and the Detroit Three (still called the Big Three then) and everyone else was racing to get one on the road.
Stellantis

Chrysler promised an extended-range Town & Country minivan, an extended-range Wrangler, and an unnamed two-seat Dodge Sports car that was all-electric.

Only just now are we getting the first electrified Wrangler — the plug-in hybrid 4xe. Chrysler has sold a hybrid version of the Pacifica — which replaced the Town & Country — for a bit now. And that sports car never materialized, even though some folks predicted it would be on sale by the end of 2010. To be fair, Chrysler did offer hybrid models (Dodge Durango and Chrysler Aspen) back then.

“We have a social responsibility to our consumers to deliver environmentally friendly, fuel-efficient, advanced electric vehicles, and our intention is to meet that responsibility quickly and more broadly than any other automobile manufacturer,” Bob Nardelli, chairman and CEO of then-Chrysler said at the time. “The introduction of the Chrysler, Jeep and Dodge electric vehicles provides a glimpse of the very near future and demonstrates that we are serious and well along in the development of bringing electric vehicles to market.”

To be fair to Chrysler/FCA/Stellantis, a big part of the reason these vehicles didn’t make it to market was the havoc caused by the Great Recession. When Fiat took over, it disbanded ENVI, the division that was working on those vehicles, in late 2009. Fiat, of course, owned Chrysler by then thanks to the shakeups that followed Chrysler’s recession-related bankruptcy. Perhaps these vehicles would’ve made it to market had the Great Recession never occurred.

It’s not just EVs. A few years after the Razor concept came and went, Dodge had a chance to build a similar Miata-fighting roadster named the Demon, and that car, too, never was produced.
Again, in the spirit of fairness, we’ll pause to note that every car company has had hot concepts that didn’t make production for one reason or another, or has made promises it hasn’t kept. I think the Stellantis EV Day promises are sticking out more in part because of what happened with ENVI, and in part because the company has seemingly been chasing the rest of the industry when it comes to electrification over the past decade.

I’d also remind readers that past performance isn’t an indicator of future performance, so previous failures from the company don’t mean it won’t meet its goals this time around. External factors matter, too. Stellantis doesn’t seem to be on the verge of bankruptcy, the economy is recovering post-pandemic (even if it may be K-shaped), and the entire industry is more focused on electrification than it was in the late Aughts. And the tech — including support tech like charging — has advanced.

So, Stellantis may well succeed this time. But I couldn’t help but think of the past.

 

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Discussion Starter · #45 ·
August 3, 2021

First Half 2021 Results



Stellantis Reports Record H1 Pro Forma(1) Results with 11.4% Margin, All Segments Profitable
Full-Year Guidance Raised to ~10% Adjusted Operating Income(2) Margin



  • Pro Forma(1) Net revenues of €75.3 billion, up 46%
  • Pro Forma(1) Adjusted operating income(2) (“AOI”) of €8.6 billion, with 11.4% margin; record North America margin at 16.1%
  • Strong start to synergies execution, with ~€1.3 billion of net cash synergies in H1 2021
  • Pro Forma(1) Industrial free cash outflows(3) of €1.2 billion, reflecting negative working capital impacts due to unfilled semiconductor orders, offsetting positive net synergies
  • Strong Industrial available liquidity of €51.4 billion

“I would like to thank warmly all Stellantis employees for their outstanding focus on operational excellence and synergies execution that have led the Company to achieve very strong H1 financial results. While delivering this strong operational performance the Company also made significant progress on strategic matters related to electrification acceleration and software, which are fundamental pillars of our strategy.”


Carlos Tavares, CEO



EV Strategy:
Full speed ahead with the launch of 11 BEVs and 10 PHEVs over the next 24 months; fully-electrified LCV range in Europe, along with hydrogen fuel cell medium vans, by end of 2021; a third ‘gigafactory’ announced for Termoli (Italy); transformation of Ellesmere Port (UK) plant into the Company's first purely BEV factory from late 2022.


Innovative Partnerships Announced: With Archer to create vertical take-off vehicles and with Engie EPS to develop fast-charging networks.


North America: Record profitability, with record H1 Ram Global and U.S. retail sales. Jeep Wrangler 4xe the best-selling PHEV in the U.S for Q2 2021, following its launch in March 2021. Jeep is expanding market coverage with the forthcoming premium Grand Wagoneer and Wagoneer.


Enlarged Europe: Standalone CO2 compliance, H1 EU30 market share increased to 23.1%, with LCV leadership at 34.4% share. Peugeot #2 in EU30 with 7.1% H1 market share. Opel Corsa H1 segment leader in Germany and UK; Fiat H1 market leader in Italy, with 500e the #1 electric city car in ten countries.


Other Regions: H1 market leader in South America, with 23.6% share and Fiat Strada is Brazil’s top selling vehicle; H1 Middle East & Africa market share up 30 basis points to 11.9%.


Maserati: Back in the black with H1 Adjusted operating income(1) of €29 million and H1 market share up in all key markets.
 

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Discussion Starter · #46 ·
Semi-Annual Report
As of and for the six months ended June 30, 2021


Financial Reports


TABLE OF CONTENTS
CERTAIN DEFINED TERMS 3
MANAGEMENT DISCUSSION AND ANALYSIS 4
FCA - PSA Merger 5
Pro Forma Basis of preparation 6
Highlights 16
Non-GAAP Financial Measures 18
Group Results 21
Results by Segment 32
Liquidity and Capital Resources 44
Important Events 50
Risks and Uncertainties 51
Outlook 52
SEMI-ANNUAL CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND NOTES AS OF AND FOR THE SIX MONTHS ENDED JUNE 30, 2021 53
Semi-Annual Condensed Consolidated Income Statement 54
Semi-Annual Condensed Consolidated Statement of Comprehensive Income 55
Semi-Annual Condensed Consolidated Statement of Financial Position 56
Semi-Annual Condensed Consolidated Statement of Cash Flows 57
Semi-Annual Condensed Consolidated Statement of Changes in Equity 58
Notes to the Semi-Annual Condensed Consolidated Financial Statements 59
1. Basis of preparation 59
2. Scope of consolidation 62
3. Net revenues 73
4. Net financial expenses 74
5. Tax expense/(benefit) 74
6. Goodwill and intangible assets with indefinite useful lives 75
7. Other intangible assets 75
8. Property, plant and equipment 75
9. Other assets and prepaid expenses 76
10. Financial assets 76
11. Inventories 77
12. Working Capital 77
13. Share-based compensation 78
14. Employee benefits liabilities 80
15. Provisions 81
16. Debt 81
17. Other liabilities 86
18. Fair value measurement 86
19. Related party transactions 89
20. Guarantees granted, commitments and contingent liabilities 90
21. Equity 94
22. Earnings per share 97
23. Segment reporting 99
24. Subsequent events 103
RESPONSIBILITY STATEMENT 104
 

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Discussion Starter · #47 ·
September 1, 2021

Stellantis to Acquire First Investors Financial Services Group as Key Step to Developing a Captive Financial Services Business in U.S. Market

AMSTERDAM - Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) (“Stellantis”) today announced it has entered into a definitive agreement to acquire F1 Holdings Corp., parent company to First Investors Financial Services Group (“First Investors”, or the “Company”), a leading independent auto finance company in the United States of America, in an all cash transaction for approximately $285 million, subject to adjustments for closing balance sheet and certain outstanding options (the “Transaction”) from an investor group led by Gallatin Point Capital LLC (“Gallatin Point”) and including affiliates of Jacobs Asset Management, LLC.


Carlos Tavares, CEO of Stellantis, said: “This transaction marks a significant milestone in Stellantis’ sales finance strategy in the critical U.S. market. First Investors has an outstanding financial and operational platform, underpinned by a strong management team, with vast experience in the auto finance space. Direct ownership of a finance company in the U.S. is a white-space opportunity which will allow Stellantis to provide our customers and dealers a complete range of financing options, including retail loans, leases, and floorplan financing in the near-to-medium term.”


Stellantis’ strategic objective is to establish a U.S. captive finance company to support its sales and fully capitalize on its strong market position while creating long-term value for Stellantis shareholders. The acquisition of First Investors allows Stellantis to create a platform from which to grow a full-service captive finance organization. Stellantis is the only major OEM currently operating in the U.S. without a captive auto finance company. The transaction represents a meaningful strategic opportunity, with significant potential for accretive earnings generation and improving customer loyalty. A captive U.S. finance company will enhance the ownership experience and connectivity in the digital age for customers who purchase its award-winning Jeep®, Ram, Dodge, Chrysler, Fiat and Alfa Romeo vehicles, and provide future opportunities to enable emerging business strategies.


Tommy Moore, Jr., President and CEO of First Investors, noted: “We are excited to join the Stellantis team. Becoming part of Stellantis provides long-term stability for our company and employees. We believe that there are significant untapped growth opportunities for First Investors under Stellantis ownership as we expand our product suite to support the auto sales growth of Stellantis. The First Investors management team is fully committed to ensuring a smooth and rapid integration into Stellantis. Meanwhile, we remain committed to continuing to offer our loans and services to our existing network of dealers and current business partners.”


The Transaction is expected to close by the end of 2021, subject to customary closing conditions and regulatory approvals.


BofA Securities served as exclusive financial advisor and Sullivan & Cromwell LLP as legal advisor to Stellantis. Ardea Partners LP served as exclusive financial advisor and Goodwin Procter LLP as legal advisor to Gallatin Point and the Company.
 

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Discussion Starter · #48 ·
Christine Feuell Joins Stellantis as Chrysler Brand CEO


September 7, 2021 , Amsterdam - Stellantis is pleased to announce that Christine Feuell, previously chief commercial officer at Honeywell Safety and Productivity Solutions, will join Stellantis as Chrysler brand CEO on September 13, reporting to CEO Carlos Tavares.

Christine Feuell is a well-recognized senior marketing executive with extensive experience in automotive, omni-channel supply chain automation systems and smart building technologies industries. She achieved progressive responsibilities in sales, marketing, product management and P&L leadership at Ford, Johnson Controls and Honeywell, with a strong track record of delivering profitable growth through integrated products, software and services. Her extensive expertise in building and developing advanced product, marketing and business model strategies will benefit the Chrysler brand to deliver customer-centric insights and innovative solutions.

“Christine heading Chrysler is great news for Stellantis and I’m convinced that she will play an integral and strategic role in setting the new impetus and direction for this iconic brand and unleash its great potential,” said Tavares.

Stellantis
Stellantis (NYSE: STLA) is one of the world’s leading automakers and a mobility provider, guided by a clear vision to offer freedom of movement with distinctive, affordable and reliable mobility solutions. In addition to the Group’s rich heritage and broad geographic presence, its greatest strengths lie in its sustainable performance, depth of experience and the wide-ranging talents of employees working around the globe. Stellantis will leverage its broad and iconic brand portfolio, which was founded by visionaries who infused the brands with passion and a competitive spirit that speaks to employees and customers alike. Stellantis aspires to become the greatest, not the biggest, while creating added value for all stakeholders, as well as the communities in which it operates.
 

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Discussion Starter · #49 ·
Buying a New Car Just Got Easier: Stellantis Gets Its Own Financial Side | MotorBiscuit


Buying a New Car Just Got Easier: Stellantis Gets Its Own Financial Side | MotorBiscuit


It has been a long time coming. Stellantis is finally getting its own financial side, making it easier for people looking to finance a new car. Stellantis entered into a $285 million deal to make the historic move.
You will be able to buy a new car directly from Stellantis soon



Buying a new car just got easier with Stellantis | Denis Charlet/AFP via Getty Images
According to a press release from Stellantis, the is going to be getting its own financing firm. The automaker will be purchasing U.S. auto finance provider First Investors Financial Services Group for $285 million. Right now, Stellantis is one of the larger automakers and the only one without its own financing. Automotive News says this move will allow the brand to bring on more dealers and will give the company more flexibility.

In addition to that, the move is reported to be highly lucrative. Dave Kelleher, chairman of the Stellantis National Dealer Council, spoke to Automotive News. Stellantis has been at a “disadvantage because they’re losing the revenue that comes with a captive.”

 

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Discussion Starter · #50 ·
Stellantis Statement on Proposed Incentives


September 13, 2021 , Auburn Hills, Mich. - As Stellantis continues our aggressive electrification push — highlighted by an investment of more than $35 billion through 2025 — we are pleased to see Congress match the industry's commitment with meaningful inducements that will help consumers make the switch to electric vehicles. Consumer incentives, a significant pledge to increase public charging infrastructure, and support for U.S. R&D and manufacturing, are critical steps to create a robust EV ecosystem. The House Ways & Means Committee's proposed incentives will spur the market by making electrified vehicles affordable for more Americans, which in turn will support well-paying, middle-class jobs in the nation's largest manufacturing sector.
 
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