Shopping on Stellantis as the electric debate gets underway

(Il Sole 24 Ore Radiocor) - In an automotive sector with little movement in Europe and Italy, Stellantis, which after a top at 7.756 euro, closed the day at 7.62 euro (-0.03%), on the day in which Bnp Paribas Exane resumed coverage of the stock with a 'neutral' recommendation and target price of 10.10 euro, compared to about 7.7 euro at present. The spotlight is on Iaa Mobility 2025, the Munich Motor Show, where, in addition to new models, there is also talk of the future of the European automotive industry, jeopardised by increasingly pressing competition from China and the transition towards electric cars, which is in danger of stalling, especially as it is now being questioned by politics, the market and companies in the sector.

How do we get out of this? One way is through alliances to strengthen outside Europe, as explained by Renault's new CEO Francois Provost, who aims to forge new partnerships, "along the lines of the one made with China's Geely". Another route is that of revision of the targets set by Europe on emissions, judged at best counterproductive by governments (including the Italian one) and carmakers. In this sense, having abandoned the more condescending approach of the past, Stellantis' top management went on the attack: "The targets set by Europe for 2030 and 2035 are no longer achievable, unless we assume that we will face a market collapse of around 30% or the financial collapse of all manufacturers in Europe. This is not feasible. We welcome discussions about a review, but it is time to move from words to deeds,' Jean-Philippe Imparato, head of Enlarged Europe & European brands at Stellantis, said on the eve of the Munich Auto Show. As a consequence, the car group's objectives will also have to be revised: from the evolution of the Dare Forward 2030 strategic plan, which will arrive in the coming months, the commitment on 100 per cent electrification by 2030 will probably disappear, because, as Imparato said, 'it is no longer achievable, for obvious reasons related to market evolution'.

At the same time, work is needed to regain market share: 'For Stellantis the road is the one indicated by the Italy Plan. Volumes in Italy will come, if the rules at the European level change, thanks to new launches, they will come from the production ramp-up of models such as the New Jeep Compass in Melfi and the Fiat 500 hybrid in production at Mirafiori," said Ceo Antonio Filosa over the weekend in an interview with Il Sole 24 Ore. The key is therefore the Italy Plan, which will be adhered to, as Imparato again said and as reiterated during the meeting between Filosa and Enterprise and Made in Italy Minister Adolfo Urso in Rome on the eve of the event.