Electrical motors on the meeting line on the Stellantis powertrain facility in Tremery, France. (Reuters)
AMSTERDAM — Automaker Stellantis on Thursday reported greater earnings within the first half of 2022 in contrast with final yr, pointing to a virtually 50% enhance in world gross sales of battery electrical automobiles.
Stellantis, which was fashioned final yr with the merger of Fiat Chrysler and France’s PSA Peugeot, mentioned internet income reached 88 billion euros ($89.86 billion), a 17% enhance from the primary half of final yr. Internet revenue hit 8 billion euros, up 34%.
The world’s fourth-largest automaker mentioned gross sales of low-emission and battery electrical automobiles have been rising, with the latter up by almost 50% from final yr to 136,000 models.
Automobile shipments slipped 18% in Europe amid issues buying laptop chips throughout a worldwide scarcity, with internet income down 2% in comparison with the primary half of 2021. However shipments rose 10% in North America, with internet income up 31%.
Stellantis has plans to promote 5 million electrical automobiles by 2030, with 50% of its North American passenger automotive and lightweight truck gross sales going totally electrical by 2030. It plans to promote solely electrical passenger automobiles in Europe by 2030.
“In a demanding world context,” CEO Carlos Tavares mentioned, Stellantis is “delivering an impressive efficiency and executing our daring electrification technique.”
The automaker has stepped up funding in electrical automobiles, with initiatives introduced earlier this yr in North America.
A three way partnership between Stellantis and Samsung plans to spend greater than $2.5 billion to construct an EV battery manufacturing facility in Indiana for a spread of automobiles produced at Stellantis’ North American meeting crops.
The carmaker additionally mentioned it could make investments billions in upgrading two Canadian meeting crops and a analysis middle in addition to constructing a big EV battery manufacturing facility in Ontario in a three way partnership with South Korea’s LG Power Resolution.
U.S. regulators have opened three investigations into questions of safety with about 1.65 million automobiles made by Stellantis, however none has been recalled to this point or linked to crashes or accidents.
