Stellantis announced that in the third quarter of 2023, it achieved a 7% increase in net sales compared to the previous year, with sales volume continuing to grow. Global sales of electric vehicles (BEV) increased by 37% compared to the third quarter of 2022, primarily driven by the following vehicles: Jeep Avenger, Citroën Ami, Peugeot E-208, the new Fiat 500e, and Citroën ë-Berlingo. The main initiatives implemented throughout the year as part of the Dare Forward 2030 strategic plan are as follows for each of the three main pillars:
Care: In an industry still undergoing unprecedented changes and transformations, Stellantis and its dealer network in Europe have strengthened their partnership to enhance the customer experience and optimize their overall journey. With the signing of over 8,000 sales contracts and 25,000 after-sales contracts in 10 major European countries, Stellantis and its business partners share the same objectives in terms of simplification, a multi-brand approach, customer focus, and quality. Austria, Belgium, Luxembourg, and the Netherlands have already adopted the new business model, and the rest of the European countries are expected to follow suit starting in 2024.
Stellantis increases its revenue in the third quarter of 2023, amounting to 45.1 billion euros
Technology: The first application of the STLA Medium platform, one of Stellantis’ four global platforms designed for electric vehicles, has been unveiled in the form of the new Peugeot E-3008. It boasts a leading range of over 700 km, as well as exceptional charging times, performance, efficiency, and driving pleasure. Fiat is re-entering the B-segment with the new 600e, designed to shape the sustainable urban mobility of tomorrow, featuring cutting-edge safety features and an electric range of over 400 km (WLTP mixed cycle) and 600 km (WLTP urban cycle). Fiat has also introduced its new micromobility offering, the Topolino, with a range of 75 km and a maximum speed of 45 km/h. Additionally, the company has announced the start of production for a brand-new electric commercial vehicle in Ellesmere Port, becoming the first site in the UK and in Stellantis globally dedicated 100% to the mass production of electric models. The new Citroën ë-C3, a 100% electric model, will soon hit the market. As the first affordable European electric car, the ë-C3 offers high levels of comfort and easy electric operation with its 44 kWh battery pack (up to 320 km of range in the WLTP cycle). It will be offered at the same net price in most European markets, starting from 23,300 euros.
Stellantis has opened its state-of-the-art Battery Technology Center within the Mirafiori complex in Turin, Italy. This center will allow Stellantis to design, develop, and test battery packs, high-voltage modules, cells, and software for its future vehicles.
The company is strengthening its global electrification ecosystem and maintaining its ambitions for carbon neutrality. This includes validation tests with Aramco for the compatibility of 24 families of thermal engines with alternative fuels (eFuels) to reduce CO2 emissions from the 28 million Stellantis vehicles currently in circulation, the presentation of the IBIS (Intelligent Battery Integrated System) project with Saft, which could be commercialized on Stellantis vehicles by the end of the decade, the announcement of the construction of a sixth gigafactory globally to support its ambitious electrification strategy, aiming for approximately 400 GWh of battery capacity. This will be the second gigafactory in the United States in partnership with Samsung SDI, and an investment in the Hell’s Kitchen project by Controlled Thermal Resources Holdings Inc., with an annual production capacity of 300,000 tons of lithium carbonate to further enhance Stellantis’ leadership in the hydrogen-powered vehicle sector.
Value: To accelerate the adoption of electric vehicles in North America, Stellantis and six other major international automakers have chosen to create an unrivaled charging network by installing at least 30,000 ultra-fast charging stations. Stellantis is also implementing a multidimensional strategy to manage and ensure the long-term supply of essential electronic microchips, thus achieving the goals of the Dare Forward 2030 plan. This strategy combines agreements with semiconductor manufacturers, direct access to essential components, and complete visibility into future electronic chip requirements.
During the third quarter of 2023, the company repurchased shares worth 0.5 billion euros, for a total of 1.2 billion euros in repurchased shares during the nine months preceding September 30, 2023. The company plans to complete its share buyback program in 2023 for an amount of €1.5 billion in the fourth quarter of 2023.
In October, Stellantis announced its intention to acquire approximately 20% of Leapmotor for 1.5 billion euros and the creation of “Leapmotor International”, a 51/49 joint venture managed by Stellantis. This venture will hold exclusive rights for the production, export, and sale of Leapmotor products outside of China.
Furthermore, in October, the company launched Pro One, its strategic move in the commercial vehicle sector, aiming to strengthen its global leadership. It will focus on offerings to professionals from its six flagship brands – Citroën, FIAT Professional, Opel, Peugeot, Ram, and Vauxhall – and contribute to the achievement of the Dare Forward 2030 strategic plan’s goals.