Stellantis N.V. targets to double revenue, ramp-up electrification: Plan 2030

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• Stellantis N.V. (STLA +1.4%) has released long-term target and updates on its electrification line up at Dare Forward 2030 with plans to become carbon net zero by 2038.
• The automaker, born out of the merger of Groupe PSA and Fiat Chrysler, stated Tuesday that it will double its revenue to €300B by 2030 and sustain double-digit adjusted operating income margins throughout the decade.
• To generate more than €20B in industrial free cash flows in 2030.
• In addition, the company is targeting a a 25-30% dividend payout ratio through 2025 and the repurchase of up to 5% of outstanding common shares.
• Also, Stellantis unveiled the first-ever fully electric Jeep SUV, which is expected to launch in early 2023, two years earlier than the automaker had predicted last summer. The new Ram 1500 BEV pickup truck arriving in 2024 was also previewed in a strategy meeting on Tuesday.
• The automaker that owns Ram, Jeep, Fiat, Chrysler, Dodge, Maserati and more ramps up its efforts to electrify version of its cars with the aim to reduce its carbon footprints 50% by 2030.
• CEO Carlos Tavares said: "We plan to have more than 75 BEVs and reach global annual BEV sales of five million vehicles by 2030."
• The plans call for reaching 100% of passenger car BEV sales mix in Europe and 50% passenger cars and light-duty trucks electrified in the United States.
• See full presentation, here.
• Earlier (Feb. 23): Stellantis GAAP EPS of €4.55, revenue of €152.12B

Comments

[Rondayvous]

This stock seems to be the Rodney Dangerfield of automakers. Multiple makes no sense.