Carmaker Stellantis on With a 26% increase in net profit to 16.8 billion euros ($17.9 billion) and a 41% increase in annual global battery and electric vehicle sales, Wednesday reported record full-year results.
The Dutch-headquartered company, formed in 2021 from the merger of Italian-American conglomerate Fiat Chrysler group and France’s PSA Group, said net revenues rose 18% to 179.6 billion euros on the back of “strong net pricing, favorable vehicle mix and positive FX translation effects.”
With 288,000 battery and electric vehicle (BEV) sales in 2022 and 23 BEVs already on the market, Stellantis CEO Carlos Tavares said the results also showed the effectiveness of the company’s electrification strategy in Europe. By the end of 2024, this number is anticipated to have doubled to 47 models, and Stellantis wants to sell 5 million BEVs worldwide by the year 2030.
“We now have the technology, the products, the raw materials, and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep® from 2024,” Tavares said.
“Please accept my sincere gratitude for all of your efforts on behalf of a more sustainable future on behalf of all of our staff members and partners.”
A 1.5 billion euro share buyback that will be carried out by the end of 2023 was also approved by the board. The company also announced a 4.2 billion euro dividend payout to shareholders, or 1.34 euros per share, subject to shareholder approval.
Source: https://www.cnbc.com/
