3 indicators to watch for on Stellantis Q2 earnings day
Compared to this year’s drumbeat of announcements from car companies touting future battery-electric models, Stellantis has remained quiet, focusing on plug-in hybrids instead.
The Amsterdam-based joint venture between Fiat-Chrysler and PSA Group is pursuing electrification aggressively, targeting a goal to sell five million EVs globally by 2030 – and preparing to introduce a suite of EVs in the U.S. and around the world.
Rivals General Motors and Ford have announced this week that they are making deals with suppliers of raw materials, building battery factories and taking more control of the supply chain to stave off the production problems that have hampered EV sales over the past year.
When Stellantis, which represents the world’s fifth-largest automotive conglomerate, releases its second-quarter financial results Thursday, CEO Carlos Tavares may provide deeper insight into the company's electrification strategy and plans for the decade.
Here's what investors and TechCrunch will be watching for.
Future models
The Fiat Chrysler parent company is investing more than $35 billion in electrification, software, and technology through 2025, and expects to launch more than 75 new battery-electric models, including 25 nameplates in the U.S. and Canada, by 2030.
In North America, Stellantis has focused on producing plug-in hybrid versions of popular models – including the Chrysler Pacifica, Jeep Grand Cherokee 4xe and Jeep Wagoneer 4xe. But it plans to launch at least 25 new EV nameplates in the coming years, including a Jeep EV in 2023, a Ram 1500 BEV pickup truck in 2024 and battery-electric models from Maserati.
We’ll be paying attention Thursday for any clues or even details that Stellantis might drop — including price, performance and launch dates – on its future EVs.
Fiat Chrysler brand
Stellantis set a goal for 100% of European sales and 50% of North American sales to come from EVs by 2030. However, its Chrysler brand plans to go fully electric by 2028, launching its first EV in 2025.
That model will be based on the Chrysler Airflow crossover concept shown at the New York Auto Show in April. Chrysler has not announced details of the production version, but said the concept car can travel up to 400 miles on a fully charged battery and includes the automaker’s STLA AutoDrive system with Level 3 automated driving capabilities.
We’ll be tuning in for more on Chrysler’s inaugural EV as well as news on EVs from other Stellantis brands.
Battery and EV assembly
Like rivals, Stellantis is bringing more of its domestic operations on shore. That includes teaming up with Samsung SDI to build a $2.5 billion lithium-ion battery plant in Indiana. The project is Stellantis’ first battery plant in the U.S. and its fifth worldwide.
The site is slated to open in 2025 near Stellantis’ engine, casting and transmission plants in Kokomo, Indiana, where the company is also investing $229 million to produce electrified, eight-speed transmissions to help reach its goal for EVs to represent more than half of its U.S. sales by 2030.
Stellantis announced in March plans to invest $4.1 billion in a separate lithium-ion battery joint venture with LG Energy Solution. That plant is expected to open in Windsor, Ontario, in 2024.
We’ll be listening for guidance on Stellantis’ construction plans and news on any new joint ventures.
