It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier.
The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America.
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Auto giant Stellantis posts record annual profit, announces $4.47 billion shareholder payoutCarmaker Stellantis on Wednesday announced record full-year results, reporting a 26% rise in net profit to 16.8 billion euros ($17.9 billion) and a 41% annual jump in global battery and electric vehicle sales.
Source: CNBC - 🏆 12. / 72 Read more »
Jeep Maker Stellantis to Hand $4.5 Billion to ShareholdersStellantis is planning to distribute $4.47 billion in dividends to shareholders and buy back up to $1.60 billion worth of shares after revenue and net profit surged in 2022, a year marked by a steep rise in electric-vehicle sales. Same folks closing a plant in Belvidere, IL right? Buybacks were illegal before Reagan for a reason.
Source: WSJ - 🏆 98. / 63 Read more »