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    STLA   NL00150001Q9

STELLANTIS N.V.

(STLA)
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Stellantis N : Mercedes-Benz joins European EV battery joint venture

09/24/2021 | 01:47pm EDT

Luxury automaker Mercedes-Benz is teaming up with Stellantis and TotalEnergies in a European electric vehicle battery joint venture, Automotive Cells Co.

Each will hold a one-third stake in the venture, which will have an investment of more than 7 billion euros ($8.2 billion).

The partners in Automotive Cells plan to increase the company's industrial capacity to at least 120 gigawatt-hours by 2030. The company was founded in August 2020 and is looking to develop and make battery cells and modules for electric vehicles with a focus on safety, performance, competitiveness and a low carbon footprint.

In July, Mercedes-Benz said it is stepping up its transition to electric cars, doubling the share of sales planned by 2025 and sketching out a market scenario in which new car sales would “in essence” be fully electric by the end of the decade. The company plans to invest 40 billion euros ($47 billion) in battery-driven vehicles between 2022 and 2080.

Stellantis was formed earlier this year by a merger involving Fiat and Chrysler.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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Analyst Recommendations on STELLANTIS N.V.
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Financials
Sales 2021 152 B 176 B 176 B
Net income 2021 10 264 M 11 907 M 11 907 M
Net cash 2021 13 974 M 16 211 M 16 211 M
P/E ratio 2021 5,20x
Yield 2021 5,27%
Capitalization 54 868 M 63 718 M 63 651 M
EV / Sales 2021 0,27x
EV / Sales 2022 0,22x
Nbr of Employees 204 000
Free-Float 64,7%
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Mean consensus BUY
Number of Analysts 22
Last Close Price 17,51 €
Average target price 22,83 €
Spread / Average Target 30,4%
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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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