Specialist
Former global platform manager at Stellantis
Agenda
- BEV (battery electric vehicle) and PHEV (plug-in hybrid electric vehicle) unit growth dynamics given semiconductor shortage
- Sales outlook for Stellantis’s (PAR: STLA) EV offerings in Europe and the US
- Stellantis’s EV strategy, highlighting its BEV platforms' competitiveness, battery chemistry strategy and software developments
- Battery cost expectations and BEV margin outlook vs ICE (internal combustion engine) models
Questions
1.
What’s your 2022 volume growth outlook for Stellantis across ICEs [internal combustion engines], BEVs [battery electric vehicles] and hybrids, given the semiconductor supply challenges?
2.
What are Stellantis’s opportunities to ensure prioritisation of higher-margin models?
3.
The challenge is prioritising high-margin models while being conscious of CO2 emissions targets. How can Stellantis manage this given the newer, electric models typically have a lower margin?
4.
What is your 2022 outlook for Stellantis’s BEV and PHEV [plug-in hybrid electric vehicle] mix? Penetration in 2021 was about 14% for Europe and about 4% for the US, but you said there could be a slight shift in these key markets.
5.
You said BEVs would be around 60% of Stellantis’s low-emission vehicles in Europe. What would the PHEV-BEV split be in North America?
6.
It seems there could be quite a big jump in low-emission vehicles, doubling in Europe and almost tripling in North America. What’s driving this?
7.
You mentioned Stellantis’s low-emission vehicles rates could be 25%, up from 14% in 2021. What’s causing this increase in Europe?
8.
Government support initiatives have been a big driver of European EV volume growth to date. How long will this last and what’s the underlying demand excluding government support?
9.
How do you expect Stellantis’s share of BEVs and PHEVs to trend past 2022, through to 2025 or 2030?
10.
What might Stellantis’ low-emission vehicle mix be in 2030?
11.
What are your US expectations for Stellantis’s BEVs and PHEVs in 2025 and 2030?
12.
How competitive is Stellantis’s product roadmap in Europe considering some of its key brands?
13.
Stellantis will launch its Ram electric model in 2024. Is that too late to the US market? We know the Ford F150 is set to launch in spring 2022.
14.
How could the Ram’s 2024 launch impact Stellantis’s US market share?
15.
Do you think the Ram customers are loyal enough to wait until 2024 or might they opt for the Ford F150 or perhaps a Rivian model?
16.
Does Tesla’s Cybertruck pose a threat to Ram?
17.
Could you elaborate on the margins for trucks?
18.
There are formidable competitors in Europe such as Volkswagen Group and Renault. How competitive are Stellantis’s EV brands in the mass market across factors such as range, charge time and price, now and in 2022-23?
19.
What are the key technical advantages or drawbacks of Stellantis’s four EV platforms vs those of Volkswagen and Renault?
20.
Stellantis’s four platforms are great in that they address all the models within the portfolio, but how might the company consolidate these platforms under one battery electric platform in the longer term? Will that shift be necessary?
21.
The electric motor is becoming increasingly important for EVs. How differentiated is Stellantis’s electric motor vs peers? I know it has a joint venture with Nidec.
22.
What are the benefits of completely in-housing components vs relying on third parties?
23.
Does Stellantis’s approach to partnering with suppliers on the motors carry a risk of decreased differentiation or competitive advantage?
24.
What battery chemistry do you expect to dominate within Stellantis and how does that differ by brand?
25.
How is Stellantis assessing LFP [lithium phosphate] or other chemistries?
26.
Solid state is a big opportunity for players such as Stellantis, and its potential 2026 timeline is earlier than that of OEMs [original equipment manufacturers] such as Volkswagen, which projects later on in the decade. How realistic do you think this 2026 solid-state roll out is?
27.
How could the introduction of solid state impact key factors such as range, charge time and cost for Stellantis?
28.
How much of the battery requirements will be supplied through Stellantis’s JV with ACC [Automotive Cells Co] vs existing battery producers, projecting forwards to 2030?
29.
When might ACC start commercial battery production?
30.
How competitive is Stellantis’s infotainment offer? It has a partnership with Foxconn.
31.
Why do you think Stellantis is relying on a partnership for infotainment? Volkswagen is in-housing this offering.
32.
Is Stellantis’s reliance on Foxconn a weakness?
33.
How do you expect the roughly EUR 30bn Stellantis is investing in EVs to be split across batteries, platforms, e-motor transmissions and software?
34.
What’s your outlook for reducing battery costs? How much further can they be reduced and what’s the timeline around that?
35.
What’s the timeline for BEVs to reach margins parity with ICE vehicles, excluding government incentives?
