Stellantis, what’s in the transition plan to electricity
All the details on Dare Forward 2030, the Stellantis group's plan for the transition to electric
Dare Forward 2030. It is the name chosen for the strategic plan of Stellantis. A fundamental plan, given that it will concern the transition to electric. And, precisely on this point, the project is surprising, because, considering the recent and repeated statements by the CEO Carlos Tavares on electric mobility, it was not taken for granted that it represented a clear acceleration towards the abandonment of endothermic engines. Instead, the group aims to reach 100% of battery vehicle sales in Europe and 50% in the United States by 2030. This, however, does not mean that Stellantis number 1 has suddenly become enthusiastic about the race towards EV decided at the community level: “The end of thermal engines will be decided by law. It is not our decision but we are ready and we are moving in this direction ”, Tavares pointed out, who then added:“ Many countries are introducing deadlines and bans and we are preparing for this ”.
THE CONTENT OF THE DARE FORWARD 2030
It is no coincidence that in the Dare Forward 2030 there are many numbers, but no date relating to the stop in the production of the endothermic. Stellantis wants to be found prepared, but does not intend to stop production even one day before the bans will go into effect. In short, Stellantis' new long-term strategic plan is more realistic than the king. “I am a competitive CEO. The framework for sustainable mobility is defined, we are here to compete and by now we understand the rules as well as the regulatory framework ”, Tavares always said during the presentation. “This is a very challenging and ambitious plan, there will be obstacles along the way but we will adapt and push forward. Times are asking us for a change of mentality, we need to push ourselves as far as possible into the future ". At the same time, the first fully electric SUV of the Jeep brand is presented, which will be launched in early 2023.
TAVARES AT COPASIR: "ITALY PROTECTED EVEN WITHOUT THE STATE AMONG THE SHAREHOLDERS"
Stellantis intends to place 5 million BEVs by 2030: already in 2024 it says it is confident of releasing 1 million which will have to become 3 in '27. The whole group will unveil a fleet of 75 plug-powered cars. There are no details on the models (we only know that over 25 in the United States), this particular one, which in Italy immediately made the unions grumble. Speaking of the Italian quarrels, before the presentation of the plan, Tavares replied to Copasir's alarm that the composition of the Board would favor French interests: "I do not see the need for the Italian State to enter the Stellantis shareholder base", he cut number 1 short, motivating: “We can protect Italy without having the government in the shareholding. The government can make better use of the Italians' taxes ”, the lash. Then the reassurance: "Italy is one of the pillars of the Group, we are investing to relaunch Alfa Romeo, Lancia and electrify Fiat".
GIGAFACTORY, IT IS DECIDED ON MARCH 10
The electrification of the Dare Forward 2030 will go from developing new batteries from 140 gigawatt hours to 400 (250 in Europe and 150 in North America) and 5 gigafactories in total. "I trust that the government will be able to sign an agreement for the construction of a gigafactory in Termoli ", Gianluca Ficco , national secretary of Uilm, told Reuters, with reference to 10 March, when there will be a meeting at the Ministry of Economical progress. Regarding this, Tavares commented: “We live in a complex world, we are still working with the Italian government. The support that will come from Rome is similar to that granted by the governments of France and Germany ”referring to the other two Stellantis gigafactories in Europe, in Douvrin (France) and Kaiserslautern (Germany). The agreement starts from the intervention ensured by the Minister of Economic Development, Giancarlo Giorgetti , equal to 369 million euros of public aid on a total investment of over 2 billion euros.
THE NUMBERS
Stellantis intends to double net revenues to 300 billion euros by 2030. The group also aims to sustain an operating margin between 10% and 12% for the entire period of the plan, also thanks to a "breakeven point less than 50% of deliveries "and" maximizing shareholder value ", paying dividends equal to 25/30% of profits up to 2025 and repurchasing up to 5% of the ordinary shares in circulation, net of capital expenses and for Research & Development equal to approximately 8% of turnover. Stellantis aims to generate more than 20 billion in industrial free cash flows in 2030, achieve 5 billion annual cash synergies by the end of 2024 and target more than in the past in the premium and luxury vehicle segments: revenues will increase fourfold.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/stellantis-cosa-ce-nel-piano-di-transizione-verso-lelettrico/ on Wed, 02 Mar 2022 11:14:44 +0000.