Stellantis has unveiled plans for a revamp of its lineup in North America, including the introduction of 11 new models, as part of a $96 billion global business strategy announced at an investor summit in Auburn Hills, Michigan. The company aims to invest 60% of its global funds into North American brands and products through 2030, citing significant growth opportunities and strong brand recognition in the region.
The comprehensive overhaul will encompass the launch of 60 new car models across Stellantis’ global portfolio, ranging from traditional combustion engine vehicles to fully electric options. The initiative also includes strategic investments in technology, collaborations with other automakers, and optimization of manufacturing capabilities, with 50 models set to undergo substantial redesigns.
In North America specifically, Stellantis intends to expand its hybrid offerings, introduce new pickup trucks, a compact van, and seven “affordable” vehicles. CEO Antonio Filosa emphasizes the potential for growth within the Jeep, Ram, Dodge, and Chrysler brands, targeting a 25% revenue increase by 2030 and aiming for an adjusted operating income margin of 8-10%.
The company plans to enhance its market coverage in North America from 60% to 90% while improving cost efficiency, with a goal to achieve $4.8 million in savings by 2028. Tim Kuniskis, responsible for overseeing Stellantis’ North American brands portfolio, highlights the growth potential of Jeep, Ram, Dodge, and Chrysler in various segments, emphasizing the importance of expanding the product lineup to drive momentum.
Looking ahead, Stellantis is set to introduce new iterations of its popular models, such as a refreshed Pacifica and updated variants. Additionally, plans include the launch of three new crossovers below the Pacifica, targeting the $25,000 to $30,000 price range where the company currently lacks representation. The Dodge brand will see the introduction of a revamped Durango and an entry-level performance vehicle aimed at expanding its market reach.
On a global scale, Stellantis aims to streamline its brand portfolio, with a focus on key brands like Jeep, Ram, Peugeot, and Fiat, as well as the commercial vehicle unit Pro One. The company plans to leverage its excess factory capacity to offer contract manufacturing services to Chinese automakers in Europe and collaborate with other industry players like Tata Motors unit JLR in the United States.
Under the new strategy, Stellantis is allocating significant investments towards global platforms, powertrains, and advanced technologies, with a target of achieving 6 billion euros in annual cost reductions by 2028. In Europe, the company anticipates a 15% revenue growth over the plan period, with an operating income margin projected between three to five percent.