PARIS, (Reuters) – Stellantis’ has begun reviewing its long-term strategic plan, new Chief Executive Antonio Filosa told staff on Wednesday, in his first public appearance since officially taking over as head of world’s No. 4 automaker.
“We have already started looking at our long-term strategic plan, which we will share when we are ready,” Filosa said in a video call from Turin in Italy, and which was shared by the company with reporters.
The current “Dare forward 2030” long-term plan, presented in March 2022 by former CEO Carlos Tavares, aimed to double net sales by the end of the decade and maintain double-digit operating margins.
However, Stellantis faced major commercial and operational difficulties in the United States and Europe last year, which forced it to abandon its annual targets, and eventually led to Tavares’ departure.
The current plan also aims for 100% of its sales in Europe and 50% in the United States to come from electric vehicles, with sales in new markets outside of those regions to increase to more than 25% of group sales.
Reporting by Gilles Guillaume; Editing by Sudip Kar-Gupta and Nick Zieminski
