Stellantis has started review of long-term strategic plans, says new CEO
PARIS, June 25 (Reuters) - Stellantis' (STLAM.MI), opens new tab has begun reviewing its long-term strategic plan, new Chief Executive Antonio Filosa told staff on Wednesday, in his first public appearance since officially taking over as head of world's No. 4 automaker.
"We have already started looking at our long-term strategic plan, which we will share when we are ready," Filosa said in a video call from Turin in Italy, and which was shared by the company with reporters.
The current "Dare forward 2030" long-term plan, presented in March 2022 by former CEO Carlos Tavares, aimed to double net sales by the end of the decade and maintain double-digit operating margins.
However, Stellantis faced major commercial and operational difficulties in the United States and Europe last year, which forced it to abandon its annual targets, and eventually led to Tavares' departure.
The current plan also aims for 100% of its sales in Europe and 50% in the United States to come from electric vehicles, with sales in new markets outside of those regions to increase to more than 25% of group sales.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times
35 minutes ago
- Times
British steel production to be classed ‘critical' to national security
British steel production is to be designated as critical to the UK's national security, under plans to secure billions of pounds of orders for new wind farms, rail links and other infrastructure projects. In an attempt to prop up domestic production, ministers are drawing up new rules that would allow public bodies to buy British steel, even if cheaper alternatives are available from abroad. President Trump announced a wave of tariffs during a press conference at the Rose Garden on April 2 BRENDAN SMIALOWSKI/AFP Industry sources have warned that steel prices in the UK have fallen by as much as 10 per cent because foreign steel exporters had diverted products that had been destined for the US to other markets. They warned the situation was likely to become critical next month when the European Union clamps down on steel imports to shield its domestic industry from global oversupply and falling prices.
Telegraph
39 minutes ago
- Telegraph
Trump: I'll make Spain pay for Nato spending snub
Donald Trump said on Wednesday that he would make Spain 'pay twice as much' after it refused to honour a Nato agreement to increase defence spending to 5 per cent of GDP. The US president singled out Spain for declining to meet the target and said he would seek to punish the Mediterranean country in trade negotiations unless it changed course. His threat came after Nato's 32 member states agreed to 'submit annual plans showing a credible, incremental path' to the 5 per cent goal at the alliance's annual summit in The Hague. Mr Trump and others hailed his personal role in the decision after he threatened to withdraw American security guarantees from Europe. Mark Rutte, Nato's secretary general, had earlier called the US president 'daddy' as he sought to flatter the American for brokering a ceasefire between Israel and Iran. The traditional post-summit communique, signed off by Nato's leaders, set out the need for increased military expenditure because of the 'long-term threat posed by Russia to Euro-Atlantic security'. Unlike previous years, the statement made no condemnation of Vladimir Putin's full-scale invasion of Ukraine. The omission, first reported by The Telegraph, was seen as a concession by Kyiv's supporters to convince Mr Trump to sign off on a statement confirming his 'ironclad commitment to collective defence as enshrined in article 5'. Ahead of the summit, the US president had cast doubt over his support for the mutual defence clause, suggesting it was open to interpretation. But European allies breathed a sigh of relief when Mr Trump declared that their promise to ramp up spending had changed his mind. Mr Trump said: 'I watched the heads of these countries get up, and the love and the passion that they showed for their country was unbelievable. I've never seen anything like it. 'It was great. And I left here differently. I left here saying that these people really love their countries. It's not a rip-off, and we're here to help them protect their country.' But he said it was 'terrible' that Spain had refused to join the others in increasing their defence spending. Spain had claimed it had agreed an opt-out from the 5 per cent target and said it would meet the alliance's capability targets without increasing its military expenditure. Mr Trump added: 'We are negotiating with Spain on a trade deal and we will make them pay twice as much. I'm actually serious about that. 'I like Spain. It's a great place, and they're great people, but Spain is the only country, out of all of the countries, that refuses to pay. They want a free ride but I am not going to let that happen.' While the European Union handles trade negotiations on behalf of its members, Mr Trump could still move to levy new tariffs against Spanish exports. Officials later said Mr Trump's Spanish rant had been a minor hiccup in what was a successful summit in the Dutch city. Their perceived strategy to flatter Mr Trump, lavishing him in praise and a night's stay at the Huis ten Bosch royal palace had succeeded in keeping the American president from turning the event into a row over defence spending. Mr Rutte was key in that flattery, at one point hailing 'daddy' Mr Trump's decision to strike Iran's nuclear sites. 'Daddy sometimes has to use strong language,' the Nato official said as he interjected in Mr Trump's comparison of the Israel-Iran conflict as a playground brawl. Mr Rutte later claimed no other US president had succeeded in convincing Nato's European allies to increase their defence spending like Mr Trump. Asked about his description of Mr Trump as 'daddy', he replied: 'It is a question of taste. 'When it comes to making more investments, would that have been the result of this summit if he would have not been re-elected president?' Sources told The Telegraph all of Nato's 32 leaders took the opportunity to speak during a single summit session dedicated to the new spending goal, with many of them praising Mr Trump for his role in their decision. Pedro Sanchez, Spain's prime minister, even avoided any mention that he had no intention of the percentage target on the table. Despite the omission of any blame for Russia's invasion of Ukraine, which Mr Trump described as a 'crisis', the US president heaped praise on a 'brave' Volodymyr Zelensky, after the leaders met on the sidelines of the summit. The American described his Ukrainian counterpart as a 'nice guy', insisting he was fighting a 'tough battle'. Mr Trump said he would further hold talks with Putin about ending the war, saying: 'Look, Vladimir Putin really has to end that war.' He added: 'It's more difficult than people would have any idea. Vladimir Putin has been more difficult.' Mr Trump also hinted at the possibility of selling Ukraine more Patriot surface-to-air missile defences after months of Ukrainian requests for more systems to protect its cities from Russian barrages.
Daily Mail
an hour ago
- Daily Mail
Australia to deploy 100 soldiers to help Ukraine in war against Russia
Australia will deploy up to 100 soldiers and a military aircraft to Europe in an effort to support Ukraine in its ongoing war with Russia. Defense Minister Richard Marles announced the contributions at the North Atlantic Treaty Organization ( NATO ) leaders summit in the Netherlands on Wednesday. At the request of NATO and Poland , Australia will deploy a Royal Australian Air Force E-7A Wedgetail aircraft in August along with 100 Australian Defense Force personnel. Part of Operation Kudu, the deployment is designed to protect an international gateway for humanitarian and military assistance into Ukraine and will not be direct combat roles. The deployment is expected to conclude by November and will compliment Australia's more than $1.5billion in support to Ukraine since the Russian invasion in February 2022 . 'Australia is proud of its longstanding operational partnership with NATO,' Mr Marles said in announcing the commitments on Wednesday. 'The deployment of an E-7A Wedgetail aircraft will again showcase our ability to operate from Europe, alongside NATO and partners, in support of Ukraine and international peace and security.' Leaders of the defensive alliance descended on The Hague on Tuesday for two days of talks on the conflict and Washington's uncertain commitment to NATO. Representatives of the member states, including many European nations, the UK, the US and Canada, are expected to commit five per cent of their national outputs to defence and related spending. Australia is not a NATO member but is considered one of its Indo-Pacific partners alongside Japan, the Republic of Korea and New Zealand. During the summit, Australia also imposed a fresh wave of financial sanctions and travel bans on 37 individuals and financial sanctions on seven entities. Mr Marles said the sanctions will target Russia's defense, energy, transport, insurance, electronic and finance sectors and proponents of disinformation and propaganda. Foreign Minister Penny Wong welcomed the sanctions as a sign of Australia's deep ties with NATO member states. 'Our targeted sanctions reflect our close coordination with key NATO partners, including the UK, Canada and the European Union.
