Stellantis Launches $70 Billion Plan Through 2030 With 60 New Models
Stellantis Unveils Ambitious Multi-Year Business Strategy
AUBURN HILLS, Michigan, May 21 (Reuters) - Stellantis set out a new 60 billion euro ($70 billion) business plan on Thursday that includes 60 new car models by 2030 - from combustion engine to fully electric vehicles - new investments in technology, joint ventures with other carmakers and better use of its manufacturing capacity.
Brand Portfolio and Investment Focus
The Franco-Italian carmaker said it would also refocus its sprawling 14-brand portfolio, with 70% of brand and product investments going to Jeep, Ram, Peugeot and Fiat, as well as commercial vehicle unit Pro One due.
Key Brands in Spotlight
CEO Antonio Filosa's pitch later on Thursday to investors at the group's capital markets day on Auburn Hills, Michigan, is a major shift in the carmaker's strategy.
Strategic Manufacturing Initiatives
The world's No. 4 automaker seeks to turn its structural disadvantage of having far too much unused factory capacity into a revenue-generating contract manufacturing business for Chinese automakers in Europe and other carmakers like Tata Motors unit JLR in the United States.
Financial Details and Reporting
($1 = 0.8615 euros)
(Reporting by Nora Eckert in Auburn Hills, Giulio Piovaccari in Milan and Gilles Guillaume in Paris; writing by Giulio Piovaccari; Editing by Susan Fenton)
