Stellantis reports record full-year 2023 results

Stellantis N.V. has today reported record full-year 2023 results. Net revenues grew 6% y-o-y to €189.5 billion, net profit rose 11% to €18.6 billion, and industrial free cash flows increased 19% y-o-y to €12.9 billion.

Global battery electric vehicles(BEV) sales were reported to be up 21% y-o-y and low emission vehicle (LEV) sales are up 27% y-o-y.

Results are in line with Stellantis’ Dare Forward 2030 objectives and are supported by the following notable actions in 2023:

• Stellantis remains on track to achieve its carbon net zero emission target by 2038, and reduced its scope 1 and 2 absolute emissions tCO2 by 20% in 2023 vs Baseline 2021.
• Stellantis secured raw materials sourcing through 2027, and signed an agreement with CATL for the supply of LFP battery cells and modules, further expanding its battery chemistries portfolio.
• Stellantis and Ample established a partnership in battery swapping technology to deliver fully charged EV batteries in less than five minutes.
• Stellantis joined Symbio and the other shareholders in inaugurating SymphonHy, the first gigafactory in France and Europe’s largest integrated site producing hydrogen fuel cells.
• Stellantis is implementing a multifaceted semiconductor strategy to ensure supply security and drive innovation.
• SiliconAuto, the 50/50 joint venture with Foxconn, will tailor chips aimed at a new generation of automotive industry vehicle platforms starting in 2026.
• In China, Stellantis invested €1.4 billion in Leapmotor, a pure play NEV OEM, and now holds approximately 21% equity. The new Leapmotor International joint venture managed by Stellantis offers global expansion opportunities.

Carlos Tavares (pictured), CEO of Stellantis said, “As we just passed the three-year mark since Stellantis’ inception, I warmly thank our teams who are executing at the highest levels and contributing greatly to our growth story, even in the strongest of headwinds.

“Today’s record financial results are proof that we have become a new global leader in our industry and will remain rock solid as we look to a turbulent 2024. Thanks to our flexible technology and product roadmap, we are prepared to address the various scenarios that could arise and to continue delivering on our Dare Forward 2030 targets.”