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Stellantis $STLA +0.40% laid out a sweeping five-year plan Thursday that makes Jeep and Ram the centerpiece of its U.S. recovery effort, promising two new models priced below $30,000.
Chief Executive Antonio Filosa's strategy, called FaSTLAne 2030, commits 60 billion euros ($70 billion) over five years to new product development, manufacturing, and cost reduction. The plan targets $7 billion in annual cost savings by 2028 and positive cash flow by 2027, the company said. Stellantis stock rose 0.40% Thursday.
Stellantis has named Jeep, Ram, Peugeot, and Fiat as its four main brands. These will get 70% of the company’s total investment in brands and products. Chrysler, Dodge, Citroën, Opel, and Alfa Romeo are now considered regional brands. DS and Lancia will focus on specialty vehicles, managed by Citroën and Fiat.
According to Car and Driver, Stellantis plans to launch 11 new models in the U.S. before 2030. Nine will be priced under $40,000, and two will cost less than $30,000. The company also wants to increase its U.S. market coverage from 60% to 90% and boost domestic sales by 35%.
