On 26 July, during Stellantis’ presentation of its first-half financial results for this year, chief executive Carlos Tavares spoke about the pressure created by electrification and what he described as a Chinese “invasion”.
Among the group’s key “weapons” is the new Citroën ë-C3, which we will get to know at the start of next year - could it be unveiled before the end of this year? It will be Stellantis’ first 100% electric model in the European market to come in at a price below €25,000.
To hit that price point, the brand says it will debut innovative solutions that directly affect how production costs are controlled.
In Carlos Tavares’ words, it is also “the first step in our response to what is now being called the ‘Chinese invasion’ in the European market. We will fight it with this type of product and we have more on the way. All of them will be affordable and profitable.”
The new Citroën ë-C3 will be one of the 47 fully electric models Stellantis expects to have on sale by the end of 2024, more than doubling the 23 models already on the market. And the announcements do not stop there, as a new platform is also on the way.
Citroën ë-C3 and Stellantis’ response to the “Chinese invasion”
Stellantis is positioning the ë-C3 as a genuinely attainable electric car for Europe, with an emphasis on making the cost base work through new manufacturing and supplier-focused solutions.
The company is framing this approach as part of a broader commercial counter-offensive, with more accessible and profitable EVs planned beyond the ë-C3.
New platform for the C segment
While Stellantis currently leads the electric market in Europe in segment A (city cars) with the Fiat 500, and in segment B (superminis) with the Peugeot e-208, it still needs to take the lead in the far more competitive segment C (compact family cars).
The answer is the new STLA Medium Platform. Stellantis says it will underpin models offering a maximum range of more than 700 km - with battery capacity up to 98 kWh - while also delivering combined-cycle consumption below 14 kWh/100 km.
“There is nothing we are doing right now, in terms of engineering, at Stellantis, that does not aim to be best in class.”
Carlos Tavares, CEO of Stellantis
The formula, he explains, is to build desirable cars that spark emotion, while working closely and in parallel with suppliers to secure the best balance between quality and price. “Because we want to monetise the value we create,” Carlos Tavares adds.
Stellantis’ figures for the first half
The first six months of 2023 went very well for Stellantis, which posted record figures compared with the same period last year. One of the standout results is net revenue of €98.4 billion, representing 12% growth versus 2022.
Operating profit and net profit
Adjusted operating profit reached €14.1 billion. Net profit, meanwhile, rose to €10.9 billion, up 37% compared with the first half of 2022.
Industrial free cash flow
The sharpest increase, however, was in industrial free cash flows, which climbed 63% versus 2022. Put another way (or in numbers), the €8.7 million recorded in the first half of this year is €3.3 billion higher than the 2022 figure.
As Carlos Tavares noted, the Dare Forward 2030 strategic plan is operating at full speed. The evidence, he argues, is in the record results Stellantis has just reported - and which are set to keep rising through to the end of the year.
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