Stellantis has unveiled plans to update its 12 North American products and introduce 11 new models as part of its $96 billion global business strategy revealed at an investor summit in Auburn Hills, Michigan. The company aims to invest 60% of its global funds by 2030 into North American brands and products due to the significant growth opportunities and strong brand presence in the region.
The company will roll out 60 new car models globally, spanning from traditional combustion engine vehicles to fully electric options. Additionally, Stellantis will focus on enhancing technology, forming partnerships with other automakers, and optimizing manufacturing capabilities, with 50 models set to undergo substantial redesigns.
In North America, Stellantis plans to expand its hybrid vehicle offerings, introduce new pickup trucks, a small van, and seven budget-friendly vehicles. CEO Antonio Filosa emphasized the growth potential in the region, targeting a 25% revenue increase by 2030 and aiming for an adjusted operating income margin between eight to 10%.
The company is looking to extend its North American market coverage from 60% to 90% while enhancing cost competitiveness. Stellantis aims to save $4.8 billion within its North American portfolio by 2028. Tim Kuniskis, overseeing the North American brands, expressed confidence in the growth prospects of Jeep, Ram, Dodge, and Chrysler, highlighting plans for product expansions and new market entries.
The company’s strategy includes refreshing existing models like the Pacifica and Durango, as well as introducing new crossovers to cater to different market segments. Stellantis intends to strengthen its presence in the market and boost its portfolio by offering a diverse range of vehicles to consumers.
On a global scale, Stellantis will focus investments on key brands like Jeep, Ram, Peugeot, and Fiat, along with commercial vehicle unit Pro One. The automaker also aims to leverage its underutilized factory capacity by venturing into contract manufacturing for Chinese automakers in Europe and collaborating with other industry players like Tata Motors unit JLR in the US.
Under the new plan, Stellantis will allocate significant funds for global platforms, powertrains, and technology advancements while targeting substantial cost reductions by 2028. The company anticipates a 15% revenue growth in Europe over the plan period, with an operating income margin ranging from three to five percent.
