Stellantis says it’s ready for North American EV transformation
After releasing an unexpectedly strong earnings report Wednesday on the heels of climbing EV momentum, Stellantis says it’s ready to do the same in North America, starting with the Ram and Jeep brands.
Despite Stellantis CEO Carlos Tavares claiming electric vehicles were being “imposed” on the auto industry, the leader is now crediting them after producing record results last year.
The Netherlands-based company, formed through a merger between Fiat Chrysler and Peugeot S.A (PSA), said electric vehicle sales rose 41% year-over-year to 288,000 EVs in 2022. More importantly, Stellantis says it was #1 in commercial electric vehicle sales in the EU30 and #2 in overall BEV sales.
The Fiat New 500 was Italy’s #1 selling EV, while the Peugeot e-208 claimed the top spot in France. Stellantis now has 23 BEVs on the market, with the portfolio expected to double by the end of 2024.
As part of its Dare Forward 2030 strategy released last March, the automaker strives to have over 75 EVs globally, with global electric vehicle sales of 5 million by 2030.
Tavares says after demonstrating the effectiveness of its EV strategy in Europe, the company is ready “to lead the same transformative journey in North America,” starting with the first Ram and Jeep EVs.
Stellantis prepares for North American EV rollout
Despite strong EV sales across Europe, Stellantis is falling behind in North America. With a lineup of highly anticipated EVs debuting over the next year or so, the automaker hopes to mimic its success.
The first to debut will be the Ram Promaster BEV, with Amazon as its first fleet customer, as it looks to take on Ford’s E-Transit electric van. Ram’s commercial electric van will be unveiled in the first half of 2023, with deliveries expected to begin in the second half of the year.
Ram has already revealed its first electric truck, the Ram 1500 REV pickup. After opening reservations earlier this month, Ram closed reservations after five days, saying it has reached max capacity.
The all-electric Ram 1500 REV will arrive in the fourth quarter of 2024, according to Stellantis.
Jeep is another Stellantis brand in the midst of an electric transformation after revealing all electric Recon and Wagoneer “S” models, which will be opened for reservations in North America this year.
Tavares says, “We now have the technology, the products, the raw materials, and full battery ecosystem” to lead its North American EV rollout.
Stellantis has the pieces to put together an EV offensive in North America. However, as others have found, the aim will be a careful strategic approach.
I’m sure you’ve heard the saying, “first impressions are most important,” and this is especially true for automakers looking to change their identity in the new electric era. Stellantis has the brand awareness with Ram and Jeep to pull it off. It will come down to execution.
Meanwhile, Stellantis will still need to move with a sense of urgency as other automakers – legacy and start-up – are looking for their own piece of the North American EV market.
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