Stellantis Unveils Major Turnaround Strategy, Aiming for 60 New Vehicles and 50 Updates by 2030.
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The $13 billion investment in the U.S. announced by Stellantis in October was merely the beginning. The automotive giant, now facing challenges, is preparing to take decisive action.
On Thursday, Stellantis revealed a new five-year strategic turnaround plan called FaSTLAne 2030, with a budget exceeding $69 billion. This initiative will result in a comprehensive revamp of the company’s extensive global product lineup, featuring more than 60 new vehicles and 50 updates across all brands.
The plan reportedly includes 29 electric vehicles, 15 plug-in hybrid or range-extended EVs, 24 hybrids, and 39 gasoline-powered models. However, specific details about which brands will receive what number of these vehicles were not disclosed at the time of writing.
In the U.S. market, Stellantis intends to increase its coverage by 50% with 11 new vehicles and a 35% rise in volume. The lineups are expected to introduce seven new products priced under $40,000 and two below $30,000. The U.S. region will see an investment of $41 billion, accounting for 60% of the total global investment over the five years.
Stellantis confirmed that it now consists of four global brands: Jeep, Ram, Peugeot, and Fiat. Chrysler, Dodge, Citroen, Opel, and Alfa Romeo have been designated as regional brands.
Maserati's future remains uncertain as it has been labeled a “pure luxury brand,” and two new midsize models will be added to its range. A future roadmap for the historic brand is expected to be unveiled in December.
The product development cycle is set to decrease from the current 40 months to 24 months.
Over the next five years, Stellantis plans to invest more than $27 billion, or 40% of its total R&D and capital expenditures during this period, into global platforms, powertrains, and technology.
Globally, the company will transition to a new modular multi-energy platform called STLA One.
Stellantis aims to enhance capacity utilization across regions with its upcoming product offensive. While production capacity in Europe is projected to decline by 80,000 units, factory utilization is anticipated to rise from 60% to 80% by 2030. In the United States, production is expected to grow and achieve 80% capacity utilization by 2030.
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Stellantis Unveils Major Turnaround Strategy, Aiming for 60 New Vehicles and 50 Updates by 2030.
Jeep, Ram, Peugeot, and Fiat will now be the main global priorities, while Chrysler, Dodge, Citroen, Opel, and Alfa Romeo will be limited to regional initiatives.