Stellantis has unveiled plans to revamp its 12 North American products and introduce 11 new models as part of its global $96 billion business strategy released at an investor summit in Auburn Hills, Michigan. The company aims to direct 60% of its global investment towards its North American brands and products until 2030 due to the significant growth potential and brand strength in the region.
The company will introduce 60 new car models across its global fleet, ranging from traditional combustion engine vehicles to fully electric ones. This initiative will involve investments in technology, collaborations with other automakers, and optimizing manufacturing capabilities, with 50 models undergoing substantial redesigns.
In North America, Stellantis plans to expand its hybrid vehicle offerings, introduce new pickup trucks, a small van, and seven affordable vehicles. CEO Antonio Filosa highlighted that the established market presence of Jeep, Ram, Dodge, and Chrysler positions them for substantial growth opportunities.
The company targets a 25% revenue increase in North America by 2030, with an adjusted operating income margin expected to range between eight to ten percent. Stellantis also aims to expand its North American market coverage from 60% to 90% while enhancing cost competitiveness. Moreover, the automaker aims to save $4.8 billion within its North American portfolio by 2028.
Tim Kuniskis, overseeing the North American brands portfolio, expressed confidence in the growth potential of Jeep, Ram, Dodge, and Chrysler brands. He emphasized the strategy of entering new market segments to drive growth, citing plans to introduce three new crossovers below the Pacifica model.
Stellantis intends to focus investments on its key brands, including Jeep, Ram, Peugeot, and Fiat, as well as the commercial vehicle unit Pro One. The company aims to leverage its excess factory capacity for contract manufacturing with Chinese automakers in Europe and other industry players.
Under the new plan, Stellantis will allocate significant funds for global platforms, powertrains, and new technologies while aiming for 6 billion euros in annual cost reductions by 2028. In Europe, the company anticipates a 15% revenue growth and an adjusted operating income margin of three to five percent.