Stellantis has implemented an important strategy under the leadership of John Elkann, aiming to strengthen its position in the American market. This plan, which has developed in parallel with Donald Trump‘s election to the presidency of the United States, includes a series of maneuvers that also involve the president and his entourage.
Stellantis expands financial strategy with industrial bank application in the US
The most recent move is the filing of an application for the creation of an industrial bank, which occurred on February 11, 2025, shortly after Trump‘s inauguration to the White House. The application, filed with the Utah Department of Financial Institutions, is still awaiting approval from the Federal Deposit Insurance Corporation.
The chosen name for the bank is Stellantis Bank USA. But what exactly is an industrial bank? In the United States, these institutions are known as Industrial Loan Companies (ILC), and they focus on providing financial services to businesses. Unlike traditional banks, ILCs are authorized not only to grant loans but also to accept deposits and issue credit cards.
In addition to Stellantis, Ford and General Motors have also filed applications to establish ILCs, while other automakers such as BMW and Toyota have already completed the process. ILCs offer significant advantages for car manufacturers, dealerships, and end customers, as they facilitate vehicle purchases through financing and credit card issuance.
The American market represents a crucial challenge for Stellantis, which in 2024 recorded a 14.3% decline in sales compared to the previous year, a crisis that led to the resignation of CEO Carlos Tavares. John Elkann, current interim president of the group, has responded promptly with a recovery plan that includes investments of $5 billion to renovate American facilities.