Hyperdrive
Stellantis Targets Double-Digit Margins in Costly EV Shift
- Carmaker squeezes costs, boosts services revenue to deliver
- Firm plans to shift all European sales to electric by 2030
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Stellantis NV set a goal to maintain double-digit returns through the end of the decade by cutting costs and deriving extra revenue from new services as the automaker speeds up its electrification push.
Adjusted operating income margin will exceed 12% by the end of the decade, while net revenues are set to double to 300 billion euros ($334 billion), Stellantis said Tuesday. The carmaker last week reported an 11.8% return for 2021 after getting past supply snarls and labor shortages with production of more profitable vehicles.