Stellantis unveils plans to revamp 12 North American products and introduce 11 new models as part of its ambitious $96 billion global business strategy announced at an investor summit in Auburn Hills, Michigan. The company emphasizes a significant focus on its North American brands and products, allocating 60% of its global investment toward this region due to perceived growth opportunities and brand strength.
The comprehensive overhaul will encompass 60 new car models across Stellantis’ global fleet, ranging from traditional combustion engine vehicles to fully electric options. The strategy includes enhanced technology integration, collaborations with other automakers, and optimization of manufacturing capabilities, with 50 models set to undergo substantial redesigns.
In North America, Stellantis aims to expand its hybrid vehicle offerings, introduce new pickup trucks, a compact van, and seven affordable vehicles. CEO Antonio Filosa highlights the historical success of Jeep, Ram, Dodge, and Chrysler in North America, positioning them for continued growth. The company targets a 25% revenue increase by 2030 and aims for an adjusted operating income margin of 8-10%.
The plan also outlines efforts to increase market coverage from 60% to 90% in North America while enhancing cost competitiveness. Stellantis anticipates saving $4.8 billion within its North American portfolio by 2028. Tim Kuniskis, overseeing the North American brands, emphasizes the growth potential of Jeep, Ram, Dodge, and Chrysler in various market segments.
The short-term focus includes strengthening the Chrysler Pacifica with a mid-cycle refresh and introducing three new crossovers below the Pacifica, tapping into the $25,000 to $30,000 price range. Additionally, a refreshed Durango and an entry-level performance vehicle are on the horizon for the Dodge brand.
On a global scale, Stellantis plans to concentrate 70% of brand and product investments on key brands like Jeep, Ram, Peugeot, and Fiat, as well as its commercial vehicle unit Pro One. The company aims to leverage excess factory capacity into contract manufacturing opportunities for Chinese automakers in Europe and other partners like Tata Motors unit JLR in the U.S.
Under the new strategy, Stellantis will allocate substantial funds to global platforms, powertrains, and emerging technologies while targeting significant cost reductions by 2028. For Europe, the company anticipates a 15% revenue growth with an adjusted operating income margin ranging from three to five percent.