Stellantis unveils 60 bn euro push to revive profitability
By AFP
May 21, 2026
Stellantis says it will focus on 'affordability' in its new five-year investment drive
By AFP
May 21, 2026
Stellantis says it will focus on 'affordability' in its new five-year investment drive
- Copyright GETTY IMAGES NORTH AMERICA/AFP/File Brandon Bell
Jeep and Fiat owner Stellantis said Thursday that it would invest 60 billion euros in a five-year push to restore profitability, reducing its factory capacity in Europe while focusing on “affordability” in the shift to clean-energy vehicles.
The strategic blueprint presented at the group’s North American headquarters in Michigan comes after a series of announcements by CEO Antonio Filosa, brought in last year to get the world’s fourth-largest automaker on stronger financial ground.
“We are uniquely positioned to offer delight, functionality and affordability,” Filosa said in a statement, adding that “We have everything we need to deliver our FaSTLAne 2030 ambitions.”
Investors appeared unconvinced, with heavy selling of Stellantis shares after the announcement prompting a temporary trading halt on the Paris stock exchange.
The company said it would focus in particular on four of its 14 brands — Jeep, Ram, Peugeot and Fiat — where it would concentrate 70 percent of its planned investments.
“With this refocused approach, Stellantis now has four global brands with the greatest scale and the highest potential for profitability,” the company said.
Overall, “this will result, between now and 2030, in more than 60 new vehicle launches and 50 significant refreshes, across all brands and powertrain energies”.
But the group’s European production capacity will be cut by 20 percent, where it is banking on partnerships to revive sales in a market still recovering from the Covid pandemic plunge in new car sales.
EU demands for 90 percent of all cars sold in the bloc to be electric by 2035 have weighed in particular on legacy automakers — while providing an opening to low-cost Chinese rivals.
Stellantis said this week it had formed a joint venture with China’s Dongfeng to share EV manufacturing, sales and engineering operations in Europe.
The deal aims to boost Stellantis brands while also letting Dongfeng build locally at a plant in western France, allowing it to avoid hefty EU tariffs on Chinese EV imports.
– Chinese partners –
The Europe capacity cuts will result in a reduction of 800,000 vehicles per year, from a current capacity of around four million units, according to an industry source.
This would be achieved by “repurposing plants”, such as in Poissy outside the French capital, and “leveraging partnerships” such as in Madrid and Zaragoza in Spain, as well as Rennes in western France, it said.
The joint venture between Stellantis and Dongfeng would see the Chinese firm’s Voyah EVs built at a Stellantis plant in Rennes for the European market, the companies said Wednesday.
Stellantis also said this month that it was considering strengthening its alliance with Leapmotor so the Chinese group can produce its own cars at two of the European auto manufacturer’s Spanish plants.
Stellantis also announced this week that it would start building smaller, low-cost electric cars for the European market as buyers increasingly look to rival Chinese models.
The group’s brands also include Alfa Romeo, Opel, Maserati and Dodge trucks.
Jeep and Fiat owner Stellantis said Thursday that it would invest 60 billion euros in a five-year push to restore profitability, reducing its factory capacity in Europe while focusing on “affordability” in the shift to clean-energy vehicles.
The strategic blueprint presented at the group’s North American headquarters in Michigan comes after a series of announcements by CEO Antonio Filosa, brought in last year to get the world’s fourth-largest automaker on stronger financial ground.
“We are uniquely positioned to offer delight, functionality and affordability,” Filosa said in a statement, adding that “We have everything we need to deliver our FaSTLAne 2030 ambitions.”
Investors appeared unconvinced, with heavy selling of Stellantis shares after the announcement prompting a temporary trading halt on the Paris stock exchange.
The company said it would focus in particular on four of its 14 brands — Jeep, Ram, Peugeot and Fiat — where it would concentrate 70 percent of its planned investments.
“With this refocused approach, Stellantis now has four global brands with the greatest scale and the highest potential for profitability,” the company said.
Overall, “this will result, between now and 2030, in more than 60 new vehicle launches and 50 significant refreshes, across all brands and powertrain energies”.
But the group’s European production capacity will be cut by 20 percent, where it is banking on partnerships to revive sales in a market still recovering from the Covid pandemic plunge in new car sales.
EU demands for 90 percent of all cars sold in the bloc to be electric by 2035 have weighed in particular on legacy automakers — while providing an opening to low-cost Chinese rivals.
Stellantis said this week it had formed a joint venture with China’s Dongfeng to share EV manufacturing, sales and engineering operations in Europe.
The deal aims to boost Stellantis brands while also letting Dongfeng build locally at a plant in western France, allowing it to avoid hefty EU tariffs on Chinese EV imports.
– Chinese partners –
The Europe capacity cuts will result in a reduction of 800,000 vehicles per year, from a current capacity of around four million units, according to an industry source.
This would be achieved by “repurposing plants”, such as in Poissy outside the French capital, and “leveraging partnerships” such as in Madrid and Zaragoza in Spain, as well as Rennes in western France, it said.
The joint venture between Stellantis and Dongfeng would see the Chinese firm’s Voyah EVs built at a Stellantis plant in Rennes for the European market, the companies said Wednesday.
Stellantis also said this month that it was considering strengthening its alliance with Leapmotor so the Chinese group can produce its own cars at two of the European auto manufacturer’s Spanish plants.
Stellantis also announced this week that it would start building smaller, low-cost electric cars for the European market as buyers increasingly look to rival Chinese models.
The group’s brands also include Alfa Romeo, Opel, Maserati and Dodge trucks.
By AFP
May 21, 2026
The classic 2CV -- an electric version is now planned - Copyright AFP Jure Makovec
The 2CV, an iconic Citroen model popular for much of the Twentieth Century, will be coming back after production ceased in 1990, reincarnated as an electric vehicle, Citroen announced Thursday.
“The 2CV is back!” said Citroen CEO Xavier Chardon said. “Citroen is back. Back to the future.”
The announcement came at an investor day by parent company Stellantis, which also owns Jeep, Ram and Fiat, among other brands.
A version of the vehicle is expected at the Paris auto show in October.
“It’s a very important moment, because in 1948 the 2CV gave freedom of mobility to millions, and 80 years later, the new 2CV will democratize electric mobility,” Chardon said.
Chardon vowed that the reboot will be “100 percent electric,” entirely produced in Europe and priced at below 15,000 euros ($17,400).
“The true people’s car designed for real life,” he said. “For me, the future of mobility will not be won by the most complex cars, but by the simplest and the most intuitive ones.”
Stellantis announced this week a campaign around “e-cars,” small electric vehicles costing at most 15,000 euros under different brands to be produced in Pomigliano d’Arco, Italy.
The Citroen 2CV, or “two horses” was first unveiled with fanfare on October 7, 1948 at the Paris auto salon.
Originally fabricated in a single color — gray — the vehicle, nicknamed “la deudeuche,” found quick success with consumers, leading to delivery delays in the 1950s.
While keeping the same basic silhouette, subsequent models had greater power and came in a variety of colors.
There were also limited editions such as the Charleston, the Dolly and a “007” version to coincide with the 1981 James Bond Movie “For Your Eyes Only” that featured a yellow 2CV.
Production ended on July 27, 1990 at a factory in Portugal, precipitated by tightening emission standards in Europe.
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