An engine is assembled at the Stellantis Dundee Engine Complex on August 18, 2022 in Dundee, Michigan.
Bill Pugliano | Getty Images
Car manufacturer Stellantide announced record annual results on Wednesday, reporting a 26% increase in net profit to 16.8 billion euros ($17.9 billion) and a 41% annual increase in global battery sales and electric vehicles.
The Netherlands-based company, formed in 2021 from the merger of Italian-American conglomerate Fiat Chrysler and French group PSA, said its net sales rose 18% to 179.6 billion euros thanks to to “solid net prices, a favorable vehicle mix and a positive exchange rate”. translation effects.
Stellantis CEO Carlos Tavares said the results also demonstrate the effectiveness of the company’s electrification strategy in Europe, with 288,000 battery and electric vehicle (BEV) sales in 2022 and 23 BEV currently. on the market.
That figure is expected to double to 47 models by the end of 2024, and Stellantis is targeting global BEV sales of 5 million by 2030.
“We now have the technology, products, raw materials and complete battery ecosystem to lead this same transformative journey in North America, starting with our first all-electric Ram vehicles from 2023 and Jeep from 2024. “, Tavares said.
“My deep gratitude to every employee and our partners for their contributions to a more sustainable future.”
The company also announced the payment of a dividend of 4.2 billion euros to shareholders, or 1.34 euros per share, subject to shareholder approval, while the board of directors approved a takeover of 1.5 billion euros to be executed by the end of 2023.
As part of the company’s record results in North America, eligible American workers represented by the United Auto Workers union will receive profit-sharing payments of $14,760. Although payments may vary, depending on the hours worked.
Stellantis is one of the largest car manufacturers in the world and is known for its individual car brands like Alfa Romeo, Chrysler, Dodge, Fiat, Jeep and Peugeot.
Stellantis shares rose 1.6% in early trades in Europe.
—CNBC’s Michael Wayland contributed to this report.
Correction: The title of this story has been updated with an accurate description of the $4.47 billion dividend.
