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    STLA   NL00150001Q9

STELLANTIS N.V.

(STLA)
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Delayed Borsa Italiana  -  11:35 2022-08-18 am EDT
14.87 EUR   +1.58%
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Stellantis Announces Investment and Plans for Trenton, Michigan, Engine Complex

07/01/2022 | 11:13am EDT

Highlights:

* Includes $24.7 million investment and new engine program for south plant

* Production line at north plant to be decommissioned; building expected to be repurposed

* Actions provide maximum flexibility for plant

Auburn Hills, Mich. - Stellantis today announced plans for the two facilities that comprise its engine complex in Trenton, Michigan, which will provide maximum flexibility for the operation.

The plan includes a $24.7 million investment to retool the south plant to be a flexible engine line, capable of producing the two variations of the 3.6-liter Pentastar V-6 engine.

Following retooling, the Pentastar production line at the north plant will be decommissioned by the end of 2022 and all 3.6-liter engine production at the complex will be consolidated at the south facility.

First launched in 2011, the Pentastar engine quickly became the workhorse of the Chrysler, Jeep, Dodge and Ram product lines, streamlining the company's V-6 engine offerings from seven to one. Upgraded in 2016, the redesigned V-6 delivers improved fuel economy and performance over the original version of the same engine, which will continue to be produced through 2023. Production of the Pentastar upgrade in the south plant is expected to begin by the end of Q1 2023.

The north plant is expected to be repurposed for warehousing and other non-manufacturing opportunities.

Stellantis North America

Stellantis (NYSE: STLA) is one of the world's leading automakers and a mobility provider. In North America, it's best known for producing and selling vehicles in a portfolio of iconic and award-winning brands such as Jeep, Chrysler, Dodge, Ram, Alfa Romeo and Fiat. Powered by its diversity, Stellantis leads the way the region and the world move - aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.

Follow company news and video on:

Company blog: http://blog.stellantisnorthamerica.com

Media website: http://media.stellantisnorthamerica.com

Company website: www.stellantis.com

LinkedIn: https://www.linkedin.com/company/Stellantis

Facebook: https://www.facebook.com/StellantisNA

Instagram: https://www.instagram.com/stellantisna

Twitter: @StellantisNA

YouTube: http://youtube.com/StellantisNA

(C) 2022 Electronic News Publishing, source ENP Newswire

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Analyst Recommendations on STELLANTIS N.V.
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Financials
Sales 2022 174 B 176 B 176 B
Net income 2022 15 086 M 15 292 M 15 292 M
Net cash 2022 25 719 M 26 071 M 26 071 M
P/E ratio 2022 3,05x
Yield 2022 8,72%
Capitalization 46 759 M 47 399 M 47 399 M
EV / Sales 2022 0,12x
EV / Sales 2023 0,10x
Nbr of Employees 281 595
Free-Float 75,3%
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Number of Analysts 24
Last Close Price 14,87 €
Average target price 21,41 €
Spread / Average Target 44,0%
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Managers and Directors
Carlos Tavares Chief Executive Officer & Executive Director
Richard Keith Palmer Chief Financial Officer
John Jacob Philip Elkann Chairman
Harald J. Wester Chief Engineering Officer
Ned Curic Chief Technology Officer
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