Stellantis CEO Antonio Filosa announced Thursday that the company plans to invest 60 billion euros (US$69.7 billion) over the next five years as part of a new strategic plan, which also aims for annual cost savings of 6 billion euros by 2028.
The plan, called ‘FaSTLAne 2030’, involves investing 36 billion euros into the company’s extensive automotive brand portfolio, with 60% of the funds allocated for North America.
The company plans to launch over 60 new vehicles and significantly update 50 models, including all-electric, hybrid, and traditional internal combustion engine vehicles.
The remaining 24 billion euros will be allocated to global vehicle platforms and new technologies for the automaker and its products.
By 2030, Stellantis aims for 50% of its volume to be produced on three global platforms, with up to 70% component reuse.
CEO Antonio Filosa said of the strategic plan: “FaSTLAne 2030 is the result of months of disciplined work across the Company and is designed to drive long-term profitable growth. With the customer at the center of everything we do, the plan will deliver our purpose – ‘to move people with brands and products they love and trust’ – powered by our unique combination of strengths.”
“We have great people, the muscle of global scale, unmatched brands that connect and inspire, the deep local roots of our regions and dealer partners to meet our customers’ distinctive needs, and a relentless focus on innovation and excellence in execution. With these strengths, we are uniquely positioned to offer delight, functionality, and affordability. Adding to these the accelerating and amplifying benefits of our ‘win-win’ partnerships, we have everything we need to deliver our FaSTLAne 2030 ambitions.”
“What we want you to take away from today is that Stellantis, with all its assets, its capabilities, and its new strategic plan, is well positioned to succeed,” Filosa said at the company’s investor day. “You will hear from us today how we leverage our regional roots, our global scale, our partnerships and the new technologies in our journey going forward.”
By CEO NA Editorial Staff
