This year, Stellantis, the European car giant that owns 14 major auto brands including Chrysler, Jeep, Peugeot, Fiat and Ram, is set to release three fully electric vehicles into the Australian market. Despite this, the company’s overall EV sales performance still lags behind its “Dare Forward” marketing rhetoric.
Stellantis recently reported record financial results for 2022, with €179.6 billion in revenue and net profits of €16.8 billion. However, EVs only make up 4.8% of its sales, a fraction of the EV share in the major markets in which it operates. CEO Carlos Tavares has stated that the company has the technology, products, raw materials and battery ecosystem to lead a transformative journey in North America, starting with fully electric Ram vehicles from 2023 and Jeep from 2024.
In Australia, Stellantis will be releasing an all-electric Jeep Grand Cherokee 5 seater in Q2, the Fiat 500e in Q2 and the Alfa Romeo Tonale in the second half of the year. However, no details were given as to the quantities that will arrive.
In 2022, Stellantis launched its first ever fully electric Jeep Avenger SUV and all-electric Ram 1500, which will be available in some markets in late 2024. The company claims to be “on pace” to deliver on its “Dare Forward 2030” strategic plan commitments, while working to preserve “freedom of mobility”. It has the ambition of doubling its net revenue to €300 billion (as compared to 2021).
Despite this, Stellantis’ BEV sales only grew 41% in 2022 to 288,000 globally, from the 23 BEV models it has on offer. This means that BEVs make up just 4.8% of Stellantis’ global production, and petrol and diesel cars still make up 95% of all Stellantis brands’ sales. The share of EVs in the overall market in Europe is now 20%, so Stellantis is trailing well behind its rivals.
CEO Carlos Tavares has previously complained about being forced to make EVs and not knowing how to profit from them. This raises questions about his ability to lead the “Dare Forward” EV strategy and double its net revenues to €300 billion. Will Stellantis be able to bridge the EV gap and get ahead of the game? Or is it all just rhetoric?
FAQ
Q1: Are electric car batteries recyclable?
A1: Yes, electric car batteries are recyclable.
Q2: Are electric car chargers free?
A2: It depends on the charger and the location. Some electric car chargers are free, while others may require a fee.
Q3: Can electric car batteries be rebuilt?
A3: Yes, electric car batteries can be rebuilt with the right tools and knowledge.
