{"text":[[{"start":11.25,"text":"Stellantis said it would launch 60 new models this decade and invest €60bn in products and technology as chief executive Antonio Filosa laid out his strategy to revive the carmaker. "}],[{"start":24.05,"text":"Under a new five-year plan released on Thursday, the European group said it would keep all of its factories despite sluggish demand in some countries. It added it would partner with Leapmotor and other Chinese rivals as part of a plan to maintain all 14 of its brands. "}],[{"start":39.2,"text":"Stellantis is targeting revenue growth of €190bn in 2030 from €154bn in 2025, and aims to achieve positive free cash flow by 2027, increasing to €6bn in 2030. It plans to focus 70 per cent of its investments in the Jeep, Ram, Peugeot and Fiat brands, while the new models will include 29 fully electric vehicles."}],[{"start":63.900000000000006,"text":"The group’s shares in Milan fell as much as 7 per cent following the plan’s release, reflecting disappointment among investors hoping for more radical restructuring, but recovered as more details of the plan were released throughout Thursday."}],[{"start":79,"text":"The long-term strategy is the first under Filosa, who took over in June, to revive a group that has struggled to recover market share in Europe and the US in the face of intense competition and cost pressure. Earlier this year, the company announced a €22bn charge tied to its aggressive expansion into EVs."}],[{"start":97.6,"text":"Filosa said he wanted to achieve long-term profitable growth through collaboration with rivals including China’s Leapmotor and Dongfeng, and India’s Tata and Jaguar Land Rover. "}],[{"start":108.75,"text":"“With the right strategic partners, we can go further,” Filosa said. He pledged to execute his plan “without any plant shutdown” despite a capacity reduction of 800,000 vehicles in Europe. "}],[{"start":122.3,"text":"Stellantis will focus on expanding the scale of its four core global brands and making them profitable before the investments are shared with all of its regional brands such as Chrysler, Citroën, Dodge, Opel and Alfa Romeo. "}],[{"start":136.35,"text":"The group also said its luxury Maserati brand would add two large-sized vehicles, scotching investor speculation that the group would sell off the lossmaking Italian marque. "}],[{"start":145.75,"text":"Earlier this week, Stellantis said it would form a joint venture with Dongfeng to produce the Chinese state-owned group’s high-end EVs at its underutilised plants in France. It also recently expanded its partnership with Leapmotor under which Stellantis will transfer one of its two Spanish factories to the Chinese start-up. "}],[{"start":165.1,"text":"Filosa, who succeeded former Peugeot boss Carlos Tavares, is also presiding over a $36bn North American investment push following a seven-year US sales slump exacerbated by price rises and overproduction."}],[{"start":180,"text":"He has refocused on the desires of US mass-market consumers, abandoning plug-in hybrids and reintroducing popular models such as the Jeep Cherokee."}],[{"start":189.65,"text":"Under the new plan, Stellantis will aim to increase revenues in North America by 25 per cent and expand its line-up of affordable vehicles, including two Chrysler models priced below $30,000. Citroën is also resurrecting its 2CV model as an affordable EV."}],[{"start":207.6,"text":"Stellantis on Wednesday said it had signed a memorandum of understanding with Jaguar Land Rover to develop vehicles in the US. The company also signed a deal with UK start-up Wayve to use its self-driving technology for use in Stellantis vehicles in North America from 2028."}],[{"start":225.9,"text":"Through new products and the partnership deals, Stellantis said it would increase the utilisation of its European and US plants to 80 per cent of capacity by 2030. It also aims to shorten the development cycle of its new vehicles from 40 months to 24 months as legacy carmakers try to match Chinese competitors’ speed in launching new products. "}],[{"start":247.35,"text":"Tu Le, founder of Detroit-based consultancy Sino Auto Insights, described the new strategy as a “very bold plan that tries to address lingering questions, but it’s very light” on how much Stellantis’s own technology will play a role in its future. "}],[{"start":263.3,"text":"“A successful plan likely means leaning heavily into partnerships with Chinese and Indian partners, but that will eat up a lot of management time and energy,” he added. "}],[{"start":282.2,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1779403991_6223.mp3"}