By 2025, 96% of nameplates from Jeep, Ram, Dodge, Fiat and other Stellantis NV brands in the United States will have electrified options with all models offering a fully battery-electric option by 2030, CEO Carlos Tavares said Thursday during the company's first general shareholder meeting.
The details are an early glimpse into how the newly created world's fourth-largest automaker expects to tackle "the No. 1 challenge of the automotive industry," Tavares said. The company was created in January to be able to have the funds and scale to compete in an industry quickly adopting zero-emission technology in the face of growing demand and government mandates.
"This is what we are going to deliver to the market," Tavares said during the meeting, held virtually because of the COVID-19 pandemic. "Please recognize we are now accelerating this electrification move, and please recognize we are perfectly on-time and ready to deliver on the zero-emission mobility expectations for the markets in which we operate."
In 2021 alone, Stellantis expects to triple its worldwide electrified vehicle sales to more than 400,000 from sales made by its predecessors, Fiat Chrysler Automobiles NV and French automaker PSA Groupe. Stellantis is adding 10 new models this year for a total of 39 electrified nameplates. The company has more than 110 nameplates across its 14 brands.
Fiat Chrysler had been seen as a laggard in the EV space. Between 2018 and 2020, the Italian-American automaker spent $26.8 billion (22.4 billion euros) on product development and production in electrification, Giorgio Fossati, Stellantis' general counsel, said Thursday.
Underlying Stellantis' plans are four new global battery-electric platforms, including three for passenger cars and one for large SUVs and pickup trucks set to debut in 2024 with no less than 310 miles (500 kilometers) of range, Tavares said. BEV passenger car platforms will begin to be introduced for medium and large cars in 2023 with more than 435 miles (700 kilometers) and 497 miles (800 kilometers) of range, respectively. The platform for small cars should be launched in 2026 with more than 310 miles (500 kilometers) of range.
"Those platforms are sized to deliver no less than the numbers we have just mentioned, which will address what we call the range anxiety issue of electric vehicles," Tavares said. "I think this is quite a breakthrough."
Converging onto just the four platforms is expected to contribute a third of the forecast $5.9 billion in cost savings created from the merger that closed in January.
That should facilitate the company's U.S. goals as well as have 98% of its European nameplates with a plug-in hybrid or pure EV option by 2025.
Such "LEV" options should represent 31% of the automaker's U.S. sales by then, up from 4% in 2021, and 35% by 2030, Tavares said. The company expects this will be above the market average mix of 30%.