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Stellantis (STLA), Toyota Motor Europe to Bolster LCV Partnership
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Stellantis N.V. (STLA - Free Report) and Toyota Motor’s (TM - Free Report) subsidiary, Toyota Motor Europe (“TME”), recently announced the expansion of their existing partnership with a pact for a new large-size light commercial vehicle (“LCV”), including a battery electric version.
Stellantis will supply TME with the new product for sale in Europe under the Toyota brand. The new van will be built at Stellantis’ plants in Gliwice, Poland and Atessa, Italy. It is planned to begin in mid-2024. The new vehicle is the third body type under the agreement, completing a full LCV line-up, with compact, mid and now a large-size LCV. This marks TME’s debut into the large-size commercial vehicle segment.
Stellantis and TME’s collaboration began in 2012 with Toyota’s mid-size LCV produced at the latter’s Hordain plant in France. It was followed by an addition to the compact-size LCV segment, in 2019, produced at Stellantis’ plant in Vigo, Spain. The recent announcement on large-size LCV furthers the collaboration, enabling Toyota to complete a full LCV line-up in Europe, while allowing both companies to enjoy the benefits of development and production cost optimization.
The pact will bolster Stellantis’ leadership in LCVs and low emission vehicles, bringing it closer to its Dare Forward 2030 goal of becoming the top player in global LCV in terms of technology, manufacturing, market share and profitability.
The company launched the Dare Forward 2030 plan recently. It will aid its transition to a carbon net-zero entity by 2038, with a 50% reduction by 2030. Apart from this, the auto giant aims to double net revenues to $335 billion, annually, by 2030. It also aims to maintain double-digit profit margins as it looks to ramp up efforts to bring electrified versions of its cars.
Under the Dare Forward strategy, Stellantis aims to increase its planned battery capacity by 140 gigawatt-hours to nearly 400 GWh and expand its hydrogen fuel cell technology to large vans in 2024. The Dare Forward 2030 promises to make the company a championed player in the domain of net-zero emission vehicles by driving innovation and employee engagement.
Shares of STLA have declined 25.4% over the past year compared with its industry’s 23.4% decline.
Image Source: Zacks Investment Research
Zacks Rank and Key Picks
STLA and TM currently carry a Zacks Rank #2 (Buy) and a Zacks Rank #5 (Strong Sell), respectively.
Wabash National has an expected earnings growth rate of 239.3% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
Wabash National’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. WNC pulled off a trailing four-quarter earnings surprise of 51.26%, on average. The stock has declined 3.6% over the past year.
Fox Factory has an expected earnings growth rate of 14.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 1% upward in the past 30 days.
Fox Factory’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. FOXF pulled off a trailing four-quarter earnings surprise of 10.18%, on average. The stock has declined 45.4% over the past year.
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Stellantis (STLA), Toyota Motor Europe to Bolster LCV Partnership
Stellantis N.V. (STLA - Free Report) and Toyota Motor’s (TM - Free Report) subsidiary, Toyota Motor Europe (“TME”), recently announced the expansion of their existing partnership with a pact for a new large-size light commercial vehicle (“LCV”), including a battery electric version.
Stellantis will supply TME with the new product for sale in Europe under the Toyota brand. The new van will be built at Stellantis’ plants in Gliwice, Poland and Atessa, Italy. It is planned to begin in mid-2024. The new vehicle is the third body type under the agreement, completing a full LCV line-up, with compact, mid and now a large-size LCV. This marks TME’s debut into the large-size commercial vehicle segment.
Stellantis and TME’s collaboration began in 2012 with Toyota’s mid-size LCV produced at the latter’s Hordain plant in France. It was followed by an addition to the compact-size LCV segment, in 2019, produced at Stellantis’ plant in Vigo, Spain. The recent announcement on large-size LCV furthers the collaboration, enabling Toyota to complete a full LCV line-up in Europe, while allowing both companies to enjoy the benefits of development and production cost optimization.
The pact will bolster Stellantis’ leadership in LCVs and low emission vehicles, bringing it closer to its Dare Forward 2030 goal of becoming the top player in global LCV in terms of technology, manufacturing, market share and profitability.
The company launched the Dare Forward 2030 plan recently. It will aid its transition to a carbon net-zero entity by 2038, with a 50% reduction by 2030. Apart from this, the auto giant aims to double net revenues to $335 billion, annually, by 2030. It also aims to maintain double-digit profit margins as it looks to ramp up efforts to bring electrified versions of its cars.
Under the Dare Forward strategy, Stellantis aims to increase its planned battery capacity by 140 gigawatt-hours to nearly 400 GWh and expand its hydrogen fuel cell technology to large vans in 2024. The Dare Forward 2030 promises to make the company a championed player in the domain of net-zero emission vehicles by driving innovation and employee engagement.
Shares of STLA have declined 25.4% over the past year compared with its industry’s 23.4% decline.
Image Source: Zacks Investment Research
Zacks Rank and Key Picks
STLA and TM currently carry a Zacks Rank #2 (Buy) and a Zacks Rank #5 (Strong Sell), respectively.
Some other top-ranked players in the auto space include Wabash National Corporation (WNC - Free Report) , carrying a Zacks Rank #1 (Strong Buy) and Fox Factory Holdings (FOXF - Free Report) , carrying a Zacks Rank #2 currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Wabash National has an expected earnings growth rate of 239.3% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
Wabash National’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. WNC pulled off a trailing four-quarter earnings surprise of 51.26%, on average. The stock has declined 3.6% over the past year.
Fox Factory has an expected earnings growth rate of 14.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 1% upward in the past 30 days.
Fox Factory’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. FOXF pulled off a trailing four-quarter earnings surprise of 10.18%, on average. The stock has declined 45.4% over the past year.