Global car giant Stellantis – whose brands include Fiat, Peugeot, Citroen, Alfa Romeo, Ram and Jeep – says its electric vehicle sales have increased by 24% to 169,000 units sold so far this year.
Stellantis, which was formed in 2021 through the merger of Italian–American conglomerate Fiat Chrysler Automobiles and the French PSA Group, reported on Wednesday that the first six months of the year had seen the company set strong growth and new records for net revenue, net profit, and income.
Its earnings before interest and tax (EBIT) rose 11 per cent to €14.1 billion and its revenues rose 12 per cent to €98.4 billion.
Stellantis now ranks third in the EU30 on battery electric sales, and has 25 different electric models available, with another 23 set to launch through 2024.
The second quarter also saw Stellantis launch its latest EV platform, the STLA Medium, which will be used for passenger cars, crossovers, and SUVs, and boast a range of over 700 kilometres.
“What we see today is the product of just over two years of no-compromise innovation to deliver clean, safe and affordable mobility, supported by our €30 billion investment in electrification and software through 2025,” said Carlos Tavares, Stellantis CEO.
Tavares later told analysts that Stellantis margins were strong, and even better than those of EV market leader Tesla.
“If the market is more competitive in terms of pricing, we need to work harder on cost reduction to make sure that we give back to the market the breathing space it needs while protecting our per unit margins,” he said.
None of the Stellantis EVs are available in Australia, although the Fiat 500e is due to arrive later this year, along with the first of the electric Peugeot models.
It is only just releasing into the north America market with the arrival of the Fiat 500e and the Ram Promaster, and its upcoming electric models include Fiat 600e, Dodge Charger Daytona, Wagoneer S, Jeep Recon and Ram 1500 Rev.
Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.