Stellantis Ups Electrification Strategy by $35.54 Billion

2022 Jeep Grand Cherokee 4xe

Ken Zino of AutoInformed.com on Stellantis Buys First Investors Financial Services

First Investors has been renamed Stellantis Financial Services US Corp. It will be the underpinning for Stellantis to develop a full-service captive finance arm.

Stellantis is targeting double-digit Adjusted Operating Income margins in the mid-term (~2026), hoping to make the Company a benchmark in profitability while proving electrified mobility to customers on a global basis. Stellantis, like other automakers intends to become the market leader in low emission vehicles. Through 2030, Stellantis’ LEV mix for passenger cars in Europe is targeted to grow to more than 70% or 10 percentage points ahead of current industry assumptions for the 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. The Company is targeting for the total cost of ownership of EVs to be equivalent to internal combustion engine vehicles by 2026.

Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *