Stellantis: Q1 Struggles and Electrification Growth

Stellantis experienced a 12% decrease in first-quarter revenue in 2024; however, they've seen an increase in global EV sales and remain optimistic about future growth and profitability in the second half of the year Within the first quarter, the company launched four new models, three of which are battery electric vehicles (BEVs), and initiated the production of in-house developed electric drive modules Additionally, a previous strike that halted operations at three European plants has been resolved, paving the way for production to recommence in early May. Emphasizing their commitment to electrification, Stellantis plans to notably augment their fuel cell vehicle production, aiming to manufacture 100,000 units annually by 2030, with a focus on light commercial vehicles This expansion follows the introduction of fuel cell drives in the company’s medium and large vans at the Hordain plant in France Overall, Stellantis continues to diversify its portfolio, which consists of 14 brands, and is taking strategic steps towards dominating the electric and fuel cell vehicle markets..