Jeep, Dodge maker Stellantis Posts Record Profit

Carmaker Stellantis ($STLA@Netherlands) announced record full-year results on Wednesday, reporting a 26 percent rise in net profit to 16.8 billion euros ($17.9 billion) and a 41 percent annual jump in global battery and electric vehicle sales. The company also announced a 4.2 billion euro ($4.47 billion) dividend payout to shareholders. CEO Carlos Tavares noted the capability of electric vehicle initiatives in the European market, with 288,000 battery and electric vehicle (BEV) sales in 2022 and 23 BEV models now on the market. This figure is expected to double to 47 models by the end of 2024, and Stellantis is targeting global BEV sales of 5 million by 2030. Tavares said that the Dutch-based company has the capability to bring the first fully electric Jeep and Ram vehicle to the North American market in 2023.