TURIN, Italy – Stellantis NV (NYSE:) announced the start of production of electrified dual-clutch transmissions (eDCTs) at its historic Mirafiori complex in Italy, marking the latest phase of a €240 million investment to transform the site into the Mirafiori Automotive Park 2030. The eDCTs will be used in the Stellantis brand’s hybrid vehicles, with the facility set to produce up to 600,000 units per year.
The launch of eDCT production complements the eight new activities introduced at Mirafiori since the birth of Stellantis, which include a Battery Technology Center, a Circular Economy Hub and the upcoming green campus. These developments are part of Stellantis’ broader vision to evolve into a sustainable mobility technology company, with Mirafiori serving as the central hub for the company’s design, engineering, manufacturing, supply chain and recycling operations.
In addition to the production of the eDCT, Stellantis CEO Carlos Tavares announced an additional investment of 100 million euros to improve the Fiat 500e. This investment aims to make the model more accessible and attractive to customers by incorporating next-generation battery technology, potentially increasing production at Mirafiori. This move is supported by incentives aimed at boosting the electric vehicle market and is expected to provide a better customer experience through a more favorable range/price ratio.
Mirafiori, one of Stellantis’ three key global decision-making centers, is at the forefront of the company’s Dare Forward 2030 strategy, which includes a commitment to reduce carbon emissions by 2038. The site’s transformation aligns with goals of Stellantis sustainability, contributing to an expected production of 36,000 tons of CO2. CO2 emissions savings equivalent to project completion.
Mirafiori Automotive Park 2030 is a testament to the site’s 80-year history and current role in the production of vehicles such as the Abarth 500e, Fiat 500e and Maserati models, with over 90% of its production exported. The park is also home to various innovative initiatives, such as the SUSTAINera Circular Economy Hub and the upcoming grEEn-campus, aimed at promoting a collaborative and zero-carbon working environment.
Stellantis has invested more than 5 billion euros in its Italian operations over the past five years, signaling an ongoing commitment to the country’s automotive industry. The company’s collaboration with the Polytechnic of Turin, which began in 1999, will further contribute to the development of a sustainable design and mobility campus within the Mirafiori area.
This news is based on a press release from Stellantis NV
Insights on InvestingPro
Among the significant advances that have occurred in the Mirafiori complex, Stellantis NV (STLA) presents a strong investment profile, as highlighted by key metrics and recommendations from InvestingPro. Notably, Stellantis holds more cash than debt on its balance sheet, an indicator of financial stability that could support the company’s ambitious €240 million investment in Mirafiori Automotive Park in 2030. Additionally, the company trades at a low P ratio /E of 4.2. , which when compared to near-term earnings growth, suggests an attractive valuation for investors.
InvestingPro data further reveals Stellantis’ strong financial health, with a sizable market capitalization of $104.41 billion, reinforcing its status as a prominent player in the automotive sector. The company’s revenue growth over the trailing twelve months as of Q4 2023 was 5.54%, highlighting its ability to expand in a dynamic automotive market. Additionally, a substantial dividend yield of 4.63% highlights Stellantis’ commitment to returning value to shareholders, a factor that could appeal to income-focused investors.
For those looking to delve deeper into Stellantis’ performance and potential, there are additional InvestingPro tips, including insights into the company’s profitability, price action and analyst forecasts for the year. With 11 more tips listed on InvestingPro, investors can further evaluate the benefits of including Stellantis in their portfolios. To access this information, please consider using the coupon code PRONEWS24 to get an additional 10% discount on a one-year or two-year Pro and Pro+ subscription, enhancing your investment research with comprehensive data and analysis.
As Stellantis continues to innovate and invest in sustainable mobility solutions, these financial metrics and insights are a testament to the company’s growth trajectory and strategic positioning in the industry.
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