Stellantis Last Year's Operating Profit 27 Trillion Won... 11% Increase YoY

Stellantis experienced double-digit profit growth last year as it expanded in North America, Europe, and other regions worldwide.

On the 15th (local time), Stellantis announced that it recorded net sales of 189.5 billion euros (approximately 271.9 trillion KRW) and net profit of 18.6 billion euros (approximately 26.7 trillion KRW) last year. These figures represent increases of 6% and 11%, respectively, compared to the previous year. Industrial free cash flow also improved by 19%, reaching 12.9 billion euros.

In addition to the 5% growth in the European region compared to the previous year, the company saw balanced growth across several regions. In North America, Stellantis claimed the number one position in the plug-in hybrid electric vehicle (PHEV) market and second place in the low emission vehicle (LEV) market. Net sales in the Middle East and Africa, South America, China, India, and the Asia-Pacific (IAP) region rose by 13% year-over-year.

Global sales of battery electric vehicles (BEV) grew by 21%, and sales of low emission vehicles (LEV) increased by 27%. The company stated that its electrification strategy for the carbon neutrality plan, 'Dare Forward 2030,' is progressing smoothly.

The Peugeot E-3008 sport utility vehicle (SUV), the first model to apply Stellantis’ first dedicated BEV platform, ‘STLA Medium,’ boasts the longest driving range in its class (700 km). A second platform, ‘STLA Large,’ which enables driving up to 800 km on a single charge, is also scheduled for release this year. To ensure smooth battery supply, Stellantis has partnered with Chinese battery manufacturer CATL and American battery swapping startup Ample.

Carlos Tavares, CEO of Stellantis, said, "Based on flexible technology and product roadmaps, we will prepare for 2024 amid various uncertainties and continue to strive to achieve the Dare Forward 2030 strategy."

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