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Dec. 7, 2021, 3:34 a.m. EST

Stellantis Aims for EUR20 Bln in Additional E-Vehicle Revenue by 2030

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By Ed Frankl

Stellantis NV said Tuesday that it is targeting around 20 billion euros ($22.57 billion) in additional annual revenue by 2030 through a rollout of new e-vehicle platforms.

The car maker said it would target EUR4 billion in incremental annual sales by 2026, generated by software-enabled products and subscriptions, rising to EUR20 billion by the end of the decade.

It said it would invest more than EUR30 billion through 2025 in a software and electrification transformation, with a majority of cars "over-the-air updatable" by 2024.

The Amsterdam-based company, the result of a merger of Fiat Chrysler and France's PSA Group, said it expects to have 34 million software-connected cars globally by 2030 from 12 million currently.

It added that it will deploy three new software platforms at scale in 2024.

Stellantis also said it has established strategic partnerships with companies including Foxconn Technology Group, with which it will design and sell semiconductors, as well as BMW AG and Waymo to drive efficiency and share know-how.

The company has said it is targeting more than 70% of its vehicle sales in Europe and more than 40% of vehicle sales in the U.S. to be low-emission vehicles by 2030.

Write to Ed Frankl at edward.frankl@dowjones.com

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