Tag Archives: Stellantis

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Stellantis could shut down some of its brands

Stellantis is one of the world’s largest conglomerates, created by the merger of Fiat Chrysler Automobiles and the French PSA Group, which owns 14 car manufacturers, and according to the latest information, it could happen that some of them will be shut down in the near future.

In an interview with Reuters, Stellantis CEO Carlos Tavares said that the company cannot afford to have brands that are not profitable. “If they’re not making money, we’re going to shut them down.” Speculations have already begun about which brands within the Group are at risk, while some are considered to have no reason to worry, such as Fiat, Opel, Peugeot, Citroen, Jeep and Ram. Lancia and DS have the best chance of being shut down in the near future.

Some believe that Stellantis could sell some of the brands and thus avoid a negative financial risk. This primarily refers to Maserati, Dodge, and Chrysler.

This way of thinking in the company is not surprising since the business results in the first half of the year are devastating. Since the beginning of the year, Stellantis shares have fallen by over 20%, net revenues are down 14 percent, and net profit is down 48 percent. Also, operating income fell by 40 percent. The reason is bad sales results in North America, where 18 percent fewer vehicles were delivered in the first six months than in the same period in 2023.

In some markets, such as the Middle East and Africa, sales of Stellantis vehicles increased (+3%), but this can be attributed primarily to good demand for Fiat cars.

Source: Reuters

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Stellantis brings Leapmotor to the European market

In October 2023, Stellantis formed a joint venture with Leapmotor, where the world’s largest conglomerate will have a 51 percent stake with the rights to export, sell and manufacture Leapmotor electric vehicles outside of China. The first cars of the Chinese company that will be assembled and sold on the European market are the T03 and SUV C10.

The cars will first be offered on the markets of nine European countries (France, Italy, Germany, the Netherlands, Spain, Portugal, Belgium, Greece and Romania) and sales will begin at the end of summer. By the end of the year, Stellantis will expand the business of the Chinese brand to the markets of the Middle East, Africa, India, South America and the Asia-Pacific region.

Leapmotor T03 will be produced in Poland using SKD assembly, which is the simplest way to assemble the car. It should be noted that the Fiat 500 and Jeep Avenger are produced in the same factory. Currently, T03 can be bought in France, and the plan is to expand to other European markets. It is powered by a single electric motor with 101 hp (75 kW), and with one battery charge this car has a range of up to 265 kilometers.

Unlike the T03 model, the Leapmotor C10 SUV will not be produced in Europe, but in China. It is powered by a single electric motor with 231 hp (170 kW) and 235 lb-ft (320 Nm) of torque. Enough to accommodate five passengers, the C10 is equipped with a 52.9 kWh battery that enables a CLTC range of 410 km.

Source: Stellantis

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Stellantis brings Leapmotor to the European market
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Workers’ strike in Stellantis’ plants

Stellantis was recently discovered to be in debt to MacLean-Fogg, which led to the suspension of the supply of vehicle components. Now the multinational automotive manufacturing corporation is facing another problem, a labor strike at plants in France and the UK.

After Stellantis announced its intention to move production from France and the UK to Poland, workers in three factories went on strike, forcing Stellantis to temporarily suspend production. The reason is the suspension of the delivery of components from the MA France factory.

In 2014, PSA shut down production at the MA France factory, and in 2021 this factory was taken over by Stellantis (formed by the merger of the Italian-American conglomerate Fiat Chrysler Automobiles and the French PSA Group). This factory produces components that are sent to two plants in France and a plant in the UK where Stellantis cars are assembled.

In France, Stellantis produces the DS 3 and Opel Moka models at the Poissy plant, while the Hordain plant assembles the Peugeot Expert, Citroen Jump, Opel Vivaro and commercial vehicles. The factory in Luton produces Vauxhall commercial vehicles and from 2025 it will produce mid-range electric vans for Opel/Vauxhall, Citroen, Peugeot and Fiat.

Source: Stellantis