Tag Archives: carlos tavares

Tavares Out. Stellantis Back into ACEA!

Posted on 9 December 2024 by Ken Zino

Stellantis over his embrace of electric vehicles as the core of the global automaker’s strategy, Stellantis said it would rejoin the European Automobile Manufacturers’ Association** (aka ACEA at AutoInformed), the lobbying group of 15 major European automakers. Under Tavares, Stellantis resigned from ACEA, which has been advocating slow-walking fines for automakers that fail to meet intermediate carbon reduction targets set for 2025. Battery electric vehicles sales in the EU have been tanking this year. Continue reading →

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Carlos Tavares Out as Stellantis CEO

Posted on 2 December 2024 by Ken Zino

Stellantis (NYSE: STLA ) in an unusual but not surprising Sunday release said that the Company’s Board of Directors, under the Chairmanship of John Elkann, has accepted Carlos Tavares’ resignation on 1 December 2024 as Chief Executive Officer with immediate effect. The process to appoint the new permanent Chief Executive Officer is well under way, as AutoInformed* previously reported, managed by a Special Committee of the Board. It will conclude within the first half of 2025. Until then, a new Interim Executive Committee, chaired by John Elkann, will be established. Continue reading →

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Stellantis Bets the Company on STLA Frame

Posted on 20 November 2024 by Ken Zino

Stellantis (NYSE: STLA) has debuted a new multi-energy Platform: dubbed STLA Frame. Purposely designed for full-size, body-on-frame trucks and SUVs, STLA Frame can use internal combustion, hybrid, hydrogen, battery electric (BEV) and range-extender electric vehicle (REEV) technologies. In short, struggling Stellantis’ future is dependent on this new architecture. (read AutoInformed.com on: Beleaguered Stellantis Cuts 2024 Financial Guidance, and Stellantis Q3 2024 – Shipments and Revenues Plunge)*

“Like STLA Medium and STLA Large, STLA Frame combines an unprecedented range with new levels of capability and performance to offer best-in-class range, payload and towing for our customers who need reliable and powerful trucks and SUVs, to haul their families or power their businesses,” said Stellantis CEO Carlos Tavares. “With full EV and extended-range EV tech coming soon, we’re bringing ‘no compromise’ solutions to buyers who may be hesitant on trying their first electric vehicle. We’re proud of this engineering marvel and look forward to seeing it come to life in our upcoming product blitz on Jeep and Ram.” Continue reading →

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Stellantis Q3 2024 – Shipments and Revenues Plunge

Posted on 31 October 2024 by Ken Zino

Stellantis N.V. (NYSE: STLA) said today that during Q3 2024 net revenues of €33.0 billion were down -27% compared to Q3 2023 as consolidated shipments of 1,148,000 were down 279,000 or -20% year-over-year. Stellantis also confirmed its diminished 2024 financial guidance, which was updated on September 30, 2024.*

“While Q3 2024 performance is below our potential, I’m pleased with our progress addressing operational issues, in particular U.S. inventories, which have been reduced meaningfully and are on track for year-end targets, as well as stabilization of U.S. market share. In Europe, stringent quality requirements delayed the start of certain high-volume products, but with progress resolving challenges we will soon benefit from the significantly expanded reach our generational new product wave brings to 2025 and beyond,” claimed Doug Ostermann, CFO, who replaced Natalie Knight earlier this month. Stellantis is also looking to find a successor for CEO Carlos Tavares, who will retire from his seat in 2026.

In what seems to be a “whistling past the graveyard” release appropriate for Halloween, Stellantis put forth yet again its transition plan. Stellantis’ 14 brands are to some degree or other at the heart of the Company’s planned revival/survival with ~20 new products expected this year. Continue reading →

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C’est Fou – Chinese EVs Will Be at 2024 Paris Motor Show

Posted on 25 September 2024 by Ken Zino

Stellantis today announced it will participate in the 90th edition of the Mondial de l’Auto 2024 (Paris Motor Show) from14 – 20  October with its three traditional brands – Citroën, Peugeot, and Alfa Romeo. More controversial will be the Chinese brand, Leapmotor making its debut at the show.

Leapmotor Founder, Chairman and CEO Zhu Jiangming, together with Stellantis CEO Carlos Tavares, will unveil the all-new B10, a C-segment SUV, expanding its product line-up in Europe’s core segment through this distinctive partnership in the automotive industry. Continue reading →

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Stellantis to Invest +$406M in Three Michigan Plants for EVs

Posted on 11 September 2024 by Ken Zino

“Sterling Heights Assembly has performed an incredible transformation in record time and I want to thank our colleagues for this great achievement,” said Stellantis CEO Carlos Tavares. “Gearing up to build our first-ever Ram electric truck and the range-extended version in Michigan is a meaningful moment of pride for our teams. With these investments supporting both Jeep and Ram, we’re adding innovations to our Michigan manufacturing footprint to support a multi-energy approach that is laser-focused on customer demand.” Continue reading →

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Stellantis Pursuing Share Buy Backs?

Posted on 1 August 2024 by Ken Zino

Stellantis N.V. (NYSE: STLA) said today that pursuant to its Share Buyback Program* announced on 15 February 2024, covering up to €3 billion to be executed in the open market, it has signed a share buyback agreement for the third tranche of its Program with an investment firm that will make its trading decisions concerning the timing of purchases independently of Stellantis. This despite (or because of?) its dreadful performance thus far in 2024. Continue reading →

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Stellantis Tanks in First Half of 2024 – Net Profit -48%

Posted on 25 July 2024 by Ken Zino

“The Company’s performance in the first half of 2024 fell short of our expectations, reflecting both a challenging industry context as well as our own operational issues,” said Carlos Tavares, CEO. “We have significant work to do, especially in North America, to maximize our long-term potential.” Seven or more senior executives have left Stellantis so far this year. Continue reading →

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Stellantis Adds Another $55 Million to Archer Aviation

Posted on 2 July 2024 by Ken Zino

“Few things rival the excitement of seeing a dream take flight. I applaud the innovation, expertise and hard work of the engineering and manufacturing teams from Stellantis and Archer,” said Carlos Tavares, Stellantis CEO. “With this additional investment in Archer, we remain on course for a future where freedom of mobility extends beyond today’s roads.” Continue reading →

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Stellantis Promise or Puff? – Clean, Safe, Affordable Mobility

Posted on 13 June 2024 by Ken Zino

No matter how nuanced a view you take, Jeep is central to the plan. The China Leapmotor Strategy is either daft – given the expanding global trade war with China or dictated by reality. Perhaps more significant in this moment, Stellantis re-affirmed its 2024 financial guidance and capital return plan, which promises double-digit Adjusted Operating Income (AOI) margin and positive industrial free cash flows. Stellantis will provide  ≥€7.7 billion in dividends and buybacks during 2024. Continue reading →

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Chinese Trade Wars – Leapmotor International Established

Posted on 15 May 2024 by Ken Zino

Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM) and Leapmotor (Zhejiang Leapmotor Technologies Ltd (9863.HK) yesterday announced that the two companies have received all required authorizations. The formation of Leapmotor International B.V., a 51%/49% Stellantis-led joint venture, is now complete. The notice was made as the US escalated its tariffs and sanctions against Chinese made EVs, batteries and other industrial products. Continue reading →

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Do Media Have the Electric Vehicle Market Collapse Wrong?

Posted on 19 February 2024 by Ken Zino

The European Passenger Vehicle (PV) Battery Electric Vehicle market EV market grew ~32% with positive growth in all months except December during 2023. This growth was better than many forecasters indicated at the start of last year (and better than in 2022), with some predicting no growth. BEV sales volume came in at just under 2.1 million units. This is 500,000 more than were sold in 2022.

“It is clear there has been some recent slowdown in the market, but it depends where you look. Some brands are doing considerably better than others, with the likes of MG and Tesla standing out as strong performers in 2023,” the respected consultancy GlobalData said today. Continue reading →

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Stellantis Posts Record 2023 Results – €18.6B Net

Posted on 15 February 2024 by Ken Zino

“As we just passed the three-year mark since Stellantis’ inception, I warmly thank our teams who are executing at the highest levels and contributing greatly to our growth story, even in the strongest of headwinds. Today’s record financial results are proof that we have become a new global leader in our industry and will remain rock solid as we look to a turbulent 2024. Thanks to our flexible technology and product roadmap, we are prepared to address the various scenarios that could arise and to continue delivering on our Dare Forward 2030 targets,” said Carlos Tavares, CEO. Continue reading →

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Stellantis Reveals STLA Large EV Platform

Posted on 19 January 2024 by Ken Zino

“Our goals for our STLA platforms are ambitious but this is what our customers need from us today,” said Stellantis CEO Carlos Tavares. “Creating a family of vehicles from a well-engineered set of components that is flexible enough to cover multiple vehicle types and propulsions, over-performing any of our current products, will address each of our iconic brands’ customers. The flexibility and agility of this platform is its hallmark and will be a driving force for our success in the shift to electrification in North America.” Continue reading →

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Stellantis NA COO Mark Stewart Out. Carlos Zarlenga In

Posted on 16 January 2024 by Ken Zino

“In the very demanding North American market with many obstacles to overcome in order to foster the performance of the Company, Carlos Zarlenga is the best leader among our talent pool to replace Mark Stewart and to drive the change in our business model towards electrification in the region. Carlos Zarlenga has demonstrated his ability to bring together and unite diverse teams and to deliver the expected results,” said Carlos Tavares, CEO of Stellantis. “I would like to thank Mark Stewart for his contribution to this role after a three-year cycle, corresponding to the date of creation of Stellantis and I wish him the best in his new position.” Continue reading →

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