(AOF) – Stellantis today announces the official opening of its first “Battery Technology” Center within the Mirafiori complex in Turin, Italy. Thanks to an investment of 40 million euros, this site will allow Stellantis to design, develop and test the battery packs, modules, high voltage cells and software that will equip its future vehicles. With a surface area of 8,000 m² and equipped with 32 climatic test chambers, this center will be the largest in Italy and one of the largest in Europe.
More than a hundred site employees, most of whom are Stellantis employees, will carry out and supervise climatic resistance tests, longevity tests, the development and calibration of battery management system software (Battery Management System , BMS), as well as disassembly of packs and cells for analysis and benchmarking purposes.
Stellantis is building another “Battery Technology Center” for North America in Windsor, Ontario, Canada, as part of an international battery production and development network that will include 6 gigafactories.
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Key points
– Sixth largest automotive group in the world – 3rd in the United States with 11% market share and 2nd in Europe with 18%, born in January 2021 from the Peugeot-Fiat Chrysler Group merger;
– Turnover of €179.6 billion achieved under 14 brands – Alfa Romeo, Chrysler Citroën, DS, Jeep, Opel, Peugeot, etc. -, mainly in North and South America and in Europe;
– Business model adapting the group to the new uses of motorists and to the electrification of vehicles (world positions in electric vehicles) via digital transformation, the internal culture of performance (high industrial competitiveness) and social responsibility;
– Capital with 4 main shareholders: the holding company of the Agnelli Exor family for 14.4%, the Peugeot family for 7.2%, the Chinese Dongfeng for 5.6% and BPI France for 5.66%, John Elkann chairing the 11-member board of directors with Carlos Tavares serving as general manager;
– Sound financial position: €61.3 billion in available industrial liquidity and €61.3 billion in equity, against a debt of €34 billion.
Challenges
“Dare forward 2030” strategic plan:
– maintaining a balance point of less than 50% of billings and operating margins of more than 2 figures,
– doubling of revenues including a quadrupling in the high end, ¼ achieved outside Europe and North America (€20 billion in China) and 1/3 from online sales,
– software strategy of 20 billion turnover and around 40% gross margin;
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Innovation strategy based on 4 pillars:
– electrification: 100% electric vehicles (BEV) sold in Europe and 50% in the United States in 2030
– hydrogen fuel cells: increase in battery capacity to 400 GWh,
– smart vehicles: more than 30 billion euros by 2025 in software and electrification, with deployment from 2024 of 3 platforms powered by artificial intelligence on the 4 future vehicle platforms,
– autonomous driving: participation in the European L3 Pilot t Hi_Drive projects,
– organized in a collaborative ecosystem, with more than 160 co-financed projects and more than 1,000 partners, academies in digital & data and electricity, 8 dedicated hubs and a venture capital fund of €300 million for cutting-edge technologies ;
– Environmental strategy of carbon neutrality in 2038 via a 50% reduction in 2030 vs 2021:
– new circular economy division targeting €2 billion in turnover in 2030,
– specialized investments – “sustainable” Los Azules copper mine in Argentina, geothermal energy for German sites, etc.,
– Integration of the Share now specialist -5 million customers worldwide;
– Securing the battery ecosystem: 5 giga-companies in Europe and the United States and vertical integration of raw materials.
Challenges
– Confirmation of the resumption of semiconductor supplies;
– Spin-off from the strategic partnership with Archer in the production of electric vertical take-off and landing (eVTOL) aircraft;
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Advances in financing activities in the United States and Europe, with strong profitability, and continued strong growth in global sales of electric vehicles, bolstered by 9 launches in 2023;
– After a 14% increase in revenues on 1
er
quarter, confirmation of the 2022 objective of a 2-digit operating margin and positive free cash flow.
– 2022 dividend of €1.34 and share buyback for €1.5 billion. .
A paradoxical performance
Data from the firm EY highlights that the performance of the world’s top 16 manufacturers was particularly high in 2021. While the average margin fell for three years in a row, going from 6.3% in 2017 to only 3.5% in 2020. , this margin stood at 8.5% in 2021. This level is a record for ten years. However, the context was particularly hectic for manufacturers, faced with unprecedented shortages of components. Global sales fell by 14% in 2020, the year of the health crisis, to rebound by only 5% in 2021. However, last year, players were able to reap the benefits of their efforts on the structure of their fixed costs .