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Stellantis (STLA) Unveils Bold Plans for Sustainable Mobility
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In a move toward a strong value chain, Stellantis N.V. (STLA - Free Report) has signed a non-binding MoU with GME Resources Limited for the sale of battery-grade nickel and cobalt sulfate products in the future from the NiWest Nickel-Cobalt Project in Western Australia.
The NiWest is a nickel-cobalt development project that will produce nearly 90,000 tons per annum of battery-grade nickel and cobalt sulfate for the EV market. A feasibility study for NiWest is expected to commence this month. The facility's proposed location is around 30 kilometers from Glencore-owned Murrin Murrin operation, the largest nickel-cobalt operation in the country.
The raw material procurement chain will strengthen Stellantis’ EV electric vehicle battery production and bring it closer to its de-carbonization target.
The closure of the MoU is subject to customary closing conditions and regulatory approvals.
To propel its software capabilities, Stellantis inaugurated a software center in Bengaluru, India, to develop advanced software and technological innovations. The center underlines the auto maker’s vision of ushering in a futuristic digital strategy for a populous and high-demand-centric market like India. The move is also in line with its ambitious Dare Forward 2030 plan.
The Bengaluru facility is the company’s second global innovation center in the country, the first being in Hyderabad, Telangana.
The center will function as the primary development center for the STLA SmartCockpit, slated to be unveiled in 2024 and one of the three technology platforms crucial for the company’s digital transformation strategy. The center will also work toward propelling AI and ADAS technologies for STLA AutoDrive.
For more holistic development, it is collaborating with India’s universities to explore industry-specific curricula and support ongoing expansion.
The software expertise in the country and the flourishing startup environment will ensure that an investment in India will aid Stellantis’ transformation to a digital approach to mobility. In July 2021, it announced plans to invest more than €30 billion between 2021 and 2025 in electrification and software development.
It has launched the Dare Forward 2030 plan to aid its transition to a carbon net-zero entity by 2038, with a 50% reduction by 2030. The auto giant aims to double net revenues to $335 billion annually by 2030 and maintain double-digit profit margins.
In another noteworthy development, on Oct 11, Stellantis announced an extensive plan for its Circular Economy Business Unit to rake in more than €2 billion in revenues by 2030 and inch toward the carbon neutrality target by 2038. . The Circular Economy Business Unit is one of the firm’s seven incremental business units. It stands on the 4R strategy, namely reman or remanufacture, repair, reuse and recycle to ensure a sustainable future for the company.
Stellantis is determined to have a long-standing reputation in building a sustainable chain of services.
Shares of STLA have lost 40.7% over the past year compared with its industry’s 39.3% decline.
Cummins has an expected earnings growth rate of 17.9% for the current year. The Zacks Consensus Estimate for CMI’s current-year earnings has been revised 0.23% upward in the past 30 days.
CarParts has an expected earnings growth rate of 45% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant over the past 30 days.
Dorman has an expected earnings growth rate of 10.1% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant over the past 30 days.
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Stellantis (STLA) Unveils Bold Plans for Sustainable Mobility
In a move toward a strong value chain, Stellantis N.V. (STLA - Free Report) has signed a non-binding MoU with GME Resources Limited for the sale of battery-grade nickel and cobalt sulfate products in the future from the NiWest Nickel-Cobalt Project in Western Australia.
The NiWest is a nickel-cobalt development project that will produce nearly 90,000 tons per annum of battery-grade nickel and cobalt sulfate for the EV market. A feasibility study for NiWest is expected to commence this month. The facility's proposed location is around 30 kilometers from Glencore-owned Murrin Murrin operation, the largest nickel-cobalt operation in the country.
The raw material procurement chain will strengthen Stellantis’ EV electric vehicle battery production and bring it closer to its de-carbonization target.
The closure of the MoU is subject to customary closing conditions and regulatory approvals.
To propel its software capabilities, Stellantis inaugurated a software center in Bengaluru, India, to develop advanced software and technological innovations. The center underlines the auto maker’s vision of ushering in a futuristic digital strategy for a populous and high-demand-centric market like India. The move is also in line with its ambitious Dare Forward 2030 plan.
The Bengaluru facility is the company’s second global innovation center in the country, the first being in Hyderabad, Telangana.
The center will function as the primary development center for the STLA SmartCockpit, slated to be unveiled in 2024 and one of the three technology platforms crucial for the company’s digital transformation strategy. The center will also work toward propelling AI and ADAS technologies for STLA AutoDrive.
For more holistic development, it is collaborating with India’s universities to explore industry-specific curricula and support ongoing expansion.
The software expertise in the country and the flourishing startup environment will ensure that an investment in India will aid Stellantis’ transformation to a digital approach to mobility. In July 2021, it announced plans to invest more than €30 billion between 2021 and 2025 in electrification and software development.
It has launched the Dare Forward 2030 plan to aid its transition to a carbon net-zero entity by 2038, with a 50% reduction by 2030. The auto giant aims to double net revenues to $335 billion annually by 2030 and maintain double-digit profit margins.
In another noteworthy development, on Oct 11, Stellantis announced an extensive plan for its Circular Economy Business Unit to rake in more than €2 billion in revenues by 2030 and inch toward the carbon neutrality target by 2038. . The Circular Economy Business Unit is one of the firm’s seven incremental business units. It stands on the 4R strategy, namely reman or remanufacture, repair, reuse and recycle to ensure a sustainable future for the company.
Stellantis is determined to have a long-standing reputation in building a sustainable chain of services.
Shares of STLA have lost 40.7% over the past year compared with its industry’s 39.3% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
STLA currently has a Zacks Rank #3 (Hold).
Some better-ranked players in the auto space are Cummins Inc. (CMI - Free Report) , CarParts.com (PRTS - Free Report) and Dorman Products (DORM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
Cummins has an expected earnings growth rate of 17.9% for the current year. The Zacks Consensus Estimate for CMI’s current-year earnings has been revised 0.23% upward in the past 30 days.
CarParts has an expected earnings growth rate of 45% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant over the past 30 days.
Dorman has an expected earnings growth rate of 10.1% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant over the past 30 days.