Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. Stellantis N.V.
  6. News
  7. Summary
    STLA   NL00150001Q9

STELLANTIS N.V.

(STLA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Stellantis sounds alarm over rising electric car costs

12/02/2021 | 01:21am EST

THE CHARGE to electric vehicles will see job cuts, higher prices, or both, according to the world's seventh largest car maker.

Carlos Tavares, CEO of Fiat and Vauxhall producer Stellantis, warned yesterday that intensifying calls from investors and governments to transition to electric vehicles is pushing the industry to its limits.

Speaking at a Reuters conference, he said the push for car makers to go green was placing the sector under immense financial strain, which could potentially threaten jobs and vehicle quality.

The car-making chief suggested producing electric vehicles cost 50 per cent more than conventional vehicles powered by fossil fuels.

Tavares argued increasing pressure from governments and investors to shift to electric vehicles was placing car makers in a difficult situation where they would have to choose between two deeply unattractive options: charging higher prices to consumers or accepting smaller profit margins.

The higher costs were, in his view, unlikely to be embraced by middle-class consumers.

His comments follow mounting pressure from governments worldwide, with the Cop26 climate summit in Glasgow including pledges to end the sale of fossil fuel cars in developed economies by 2040.

The UK has even established its own policy to ban the sale of new petrol and diesel cars by the end of the decade.

Despite his concerns, Tavares has accelerated Stellantis' electric vehicle development, committing €30bn (£25.5bn) through 2025 into developing new electric vehicle designs, building battery plants and investing in raw materials and technology.

Meanwhile, Volkswagen is looking to strike new partnerships to build up its electric vehicle capacity.

Board member Thomas Schmall revealed yesterday at the same conference that its planned European battery cell plants and securing vital raw materials will cost as much as $34bn.

He anticipates announcements of cooperative deals over the coming weeks.

(c) 2021 City A.M., source Newspaper

All news about STELLANTIS N.V.
12:47pU.S. Commerce Dept says chips shortage to persist, will review some pricing
RE
09:11aRBC Raises Price Target on Stellantis to EUR18 From EUR17, Citing 'Better Price/Mix,' M..
MT
09:09aStellantis To Export Russia-Made Light Commercial Vehicles To Western Europe
MT
08:07aStellantis to start exporting Russia-made minivans to Western Europe
RE
06:10aU.S. set to release study details on chips shortage amid funding push
RE
04:27aSTELLANTIS : RBC reiterates its Neutral rating
MD
01/24Foxconn to Co-Develop Battery, Electric Vehicle Project in Indonesia
MT
01/24Stellantis Spotlight Wraps the Week
AQ
01/24Ford launches high-performance Bronco Raptor
RE
01/21STELLANTIS N : Announces 2022 Corporate Calendar - Form 6-K
PU
More news
Analyst Recommendations on STELLANTIS N.V.
More recommendations
Financials
Sales 2021 148 B 167 B 167 B
Net income 2021 10 732 M 12 120 M 12 120 M
Net cash 2021 14 037 M 15 852 M 15 852 M
P/E ratio 2021 4,81x
Yield 2021 5,90%
Capitalization 52 011 M 58 670 M 58 737 M
EV / Sales 2021 0,26x
EV / Sales 2022 0,20x
Nbr of Employees 204 000
Free-Float 64,7%
Chart STELLANTIS N.V.
Duration : Period :
Stellantis N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends STELLANTIS N.V.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Last Close Price 16,79 €
Average target price 23,24 €
Spread / Average Target 38,4%
EPS Revisions
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
Sector and Competitors
1st jan.Capi. (M$)
STELLANTIS N.V.0.61%59 502
BYD COMPANY LIMITED-5.40%107 579
FERRARI N.V.-10.47%42 569
SAIC MOTOR CORPORATION LIMITED-5.38%35 628
MARUTI SUZUKI INDIA LTD8.43%32 564
GUANGZHOU AUTOMOBILE GROUP CO., LTD.5.46%20 098