The specialist said in 2022, low-emission vehicles could make up 25% of Stellantis’ sales in Europe and 12-15% in the US, rising to 70% and 45-50% by 2030 respectively. The specialist attributed the different percentages to Europeans’ “willingness” to buy EVs over those in the US, where politics and legislation related to climate change are “far behind”.
The US EV truck market represents an opportunity for Stellantis, but it faces increasing competition from Ford, Tesla and Rivian. The specialist said this has been made more difficult by Stellantis’ decision to launch the RAM 1500 in 2024, which they described as “a little bit late”. Competitors such as Ford are set to launch EV trucks this year, and although the specialist acknowledged the importance of brand loyalty, they questioned: “If they want to try an electric vehicle, why would they wait two years?”
The specialist called Stellantis’ four EV platforms – STLA Small, Medium, Large and Frame – “extremely interesting” because they can cover almost all ranges for its numerous brands. While the specialist said the 500km range Stellantis requires for all its platforms are “not impossible”, they are “challenging”, and require both technology and the manufacturing of EVs to evolve to achieve these levels.
The specialist said LFP battery chemistry is still under review as they analyse ways to fill gaps among volume requests and capacity. The specialist told us the use of nickel cobalt-free batteries in Stellantis brands is related to “ethical decisions” rather than better energy density, and that solid-state batteries are a big opportunity. However, the specialist said solid-state batteries are unlikely to be ready for mass production by 2026, with 2028-2030 a more realistic timeline.
On battery costs, the company aims to reach EUR 100 per kWh by 2025-26, and decrease to EUR 75-80 per kWh by 2030. However, the specialist wasn’t optimistic it could be done in that time frame considering the increasing cost of raw materials.
To access all the human insights in Third Bridge Forum’s Stellantis – Europe & US EV sales outlook & portfolio strategy Interview, click here to view the full transcript.
The information used in compiling this document has been obtained by Third Bridge from experts participating in Forum Interviews. Third Bridge does not warrant the accuracy of the information and has not independently verified it. It should not be regarded as a trade recommendation or form the basis of any investment decision.
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