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Stellantis Reports Record Profits and Advances in EV Market

Despite a challenging year marked by strikes, Stellantis achieves record revenue and profit, with a strong push towards electric vehicles.

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Fiat 500e electric automobiles outside a Fiat showroom, operated by Stellantis NV, in Paris, France, on Monday, Aug. 2, 2021.
Stellantis CEO Carlos Tavares says his company is pushing forward on electrification even as other automakers signal a shift in their strategies.
Fiat-500e-affordable-EV

Overview

  • Stellantis reports record revenue of $204.12 billion and net profit of $20.02 billion for 2023, despite challenges from the UAW strike.
  • The automaker announces a $3.2 billion buyback program and a 16% dividend increase, reflecting its strong financial performance.
  • Global battery EV sales rose 21% in 2023, with Stellantis planning to launch 18 new EVs in 2024, including eight in the U.S.
  • CEO Carlos Tavares emphasizes Stellantis' commitment to electrification, contrasting with other automakers' pullback on EVs.
  • Stellantis faces competition from Chinese manufacturers, with Tavares highlighting the need for competitive offerings in the EV market.