An engine is assembled on August 18, 2022 at the Stellantis Dundee Engine Complex in Dundee, Michigan.
Bill Pugliano | Getty Images
Automaker Stellantis announced record full-year results on Wednesday, reporting a 26% increase in net income to 16.8 billion euros ($17.9 billion) and a 41% annual increase in global sales of batteries and electric vehicles.
The Netherlands-headquartered company, which was formed in 2021 from the merger of Italian-American conglomerate Fiat Chrysler and French PSA group, said net sales rose 18% to €179.6 billion, reflecting “strong net prices , a favorable vehicle mix and positive exchange rates” is due to translation effects.”
Stellantis CEO Carlos Tavares said the results also showed the effectiveness of the company’s electrification strategy in Europe, with 288,000 batteries and electric vehicles (BEV) sold in 2022 and 23 BEVs now on the market. That number is set to double to 47 models by the end of 2024, and Stellantis is targeting 5 million BEV sales worldwide by 2030.
“We now have the technology, the products, the raw materials and the entire battery ecosystem to undertake the same transformative journey in North America, beginning with our first all-electric Ram vehicles in 2023 and Jeep® in 2024,” Tavares said.
“My deep appreciation goes to each and every employee and our partners for their contribution to a more sustainable future.”
The company also announced a €4.2 billion dividend payment to shareholders, equivalent to €1.34 per share, subject to shareholder approval, while the board approved a €1.5 billion share buyback that to be carried out by the end of 2023.
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