February 23, 2023: -On Wednesday, Carmaker Stellantis announced record full-year results, which report a 26% increase in net profit to 16.8 billion euros and a 41% annual increase in international battery and electric vehicle sales.

The Dutch-headquartered firm, formed in 2021 from the merger of Italian-American conglomerate Fiat Chrysler firm and France’s PSA Group, said net earnings increased 18% to 179.6 billion on the back of “strong net pricing, favourable vehicle mix and positive FX translation effects.”

Stellantis CEO Carlos Tavares stated that the results also demonstrated the effectiveness of the firm’s electrification idea in Europe, with 288,000 battery and electric vehicle deals in the previous 2022 and 23 BEVs currently on the market.

This figure is anticipated to double to 47 models by 2024, and Stellantis is aiming for global BEV sales of 5 million by the coming decade.

“We recently have the technology, the products, the raw materials, and the completed battery ecosystem to lead the similar transformative journey in North America, beginning with our initial fully electric Ram cars from 2023 and Jeep from the next year,” Tavares said.

“My deep appreciation to almost employees, and our partners, for their contributions to a sustainable future.”

The company stated that a 4.2 billion euro dividend payout to shareholders, which equates to 1.34 euros for every share, is subject to shareholder approval. At the same time, the board approved a buyback share of 1.5 billion euros to be removed by the end of 2023.

Stellantis is one of the significant carmakers known for individual auto brands such as Alfa Romeo, Chrysler, Dodge, Jeep and Peugeot.

Stellantis shares prompted a 1.6% higher during early trade in Europe.