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Stellantis (STLA), AGI Join Forces to Electrify US Dealerships
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Stellantis (STLA - Free Report) has taken a significant step forward in its electrification journey by partnering with AGI, a leading infrastructure solutions provider. This collaboration aims to bolster the electrification of Stellantis' vast U.S. dealership network, spanning more than 2,600 sites, by providing state-of-the-art electric vehicle supply equipment (EVSE) for charging.
AGI, with its rich legacy of over 50 years in branded infrastructure implementation, has emerged as one of the most seasoned and adept providers of nationwide EVSE turnkey program execution. This partnership is poised to be a game-changer, ensuring that Stellantis’ dealerships are equipped with the best in EV charging infrastructure.
This move aligns perfectly with Stellantis' ambitious "Dare Forward 2030" strategy, which targets a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and a 50% mix in the United States by 2030. Stellantis' commitment to sustainability is evident in its pledge to become an industry frontrunner in combating climate change. The company has set an ambitious target of achieving carbon net zero emissions by 2038 and plans to roll out more than 25 BEVs by 2030.
The automaker is part of a formidable joint venture, alongside global giants like BMW Group, General Motors, Honda, Hyundai, Kia, and Mercedes-Benz Group. This coalition aims to expedite the transition to electric vehicles in North America, ensuring that EV charging is not just available but also convenient, accessible and dependable.
The collaboration with AGI will empower Stellantis' 2,600-plus dealerships in the United States to seamlessly transition to electric vehicle sales and service. AGI's prowess in electrical engineering, project management, fabrication, and maintenance will be indispensable for Stellantis’ dealers, propelling them toward EV readiness. This partnership further enriches Stellantis' U.S. portfolio of EV infrastructure and training partners. The portfolio already includes names like Future Energy and Vehya.
The U.S. head of sales at Stellantis, Jeff Kommor, emphasized the company's commitment to electrification, stating, "Stellantis is in full-execution mode with an electrification strategy tailored to cater to our dealership network." He further highlighted the company's collaborative approach, working closely with the national dealer council to navigate the transformative phase the automotive industry is currently undergoing.
Echoing this sentiment, Dave Clower, senior vice president and general manager of AGI's Electrical Lighting and Maintenance Division, remarked on the criticality of dealer EV readiness in enhancing customer experience. He underscored AGI's longstanding expertise in building EV charging capabilities and expressed enthusiasm about expanding its relationship with Stellantis dealers.
The Stellantis-AGI partnership is a testament to the auto giant's unwavering commitment to electrification. By ensuring that its dealerships are equipped with top-tier EV charging infrastructure, Stellantis is not only gearing up for a sustainable future but also setting a benchmark for the industry.
Zacks Rank & Other Key Picks
Stellantis currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for GNTX’s 2023 sales and EPS implies year-over-year growth of 17.3% and 29.4%, respectively. The earnings estimate for 2023 has been revised upward by 7 cents in the past 30 days.
The Zacks Consensus Estimate for CVGI’s 2023 sales and EPS implies year-over-year growth of 4.05% and 102%, respectively. The earnings estimate for 2023 has been revised upward by 8 cents in the past 30 days.
The Zacks Consensus Estimate for ALSN’s 2023 sales and EPS implies year-over-year growth of 9.4% and 25.3%, respectively. The earnings estimate for 2023 has been revised upward by 39 cents in the past 30 days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Stellantis (STLA), AGI Join Forces to Electrify US Dealerships
Stellantis (STLA - Free Report) has taken a significant step forward in its electrification journey by partnering with AGI, a leading infrastructure solutions provider. This collaboration aims to bolster the electrification of Stellantis' vast U.S. dealership network, spanning more than 2,600 sites, by providing state-of-the-art electric vehicle supply equipment (EVSE) for charging.
AGI, with its rich legacy of over 50 years in branded infrastructure implementation, has emerged as one of the most seasoned and adept providers of nationwide EVSE turnkey program execution. This partnership is poised to be a game-changer, ensuring that Stellantis’ dealerships are equipped with the best in EV charging infrastructure.
This move aligns perfectly with Stellantis' ambitious "Dare Forward 2030" strategy, which targets a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and a 50% mix in the United States by 2030. Stellantis' commitment to sustainability is evident in its pledge to become an industry frontrunner in combating climate change. The company has set an ambitious target of achieving carbon net zero emissions by 2038 and plans to roll out more than 25 BEVs by 2030.
The automaker is part of a formidable joint venture, alongside global giants like BMW Group, General Motors, Honda, Hyundai, Kia, and Mercedes-Benz Group. This coalition aims to expedite the transition to electric vehicles in North America, ensuring that EV charging is not just available but also convenient, accessible and dependable.
The collaboration with AGI will empower Stellantis' 2,600-plus dealerships in the United States to seamlessly transition to electric vehicle sales and service. AGI's prowess in electrical engineering, project management, fabrication, and maintenance will be indispensable for Stellantis’ dealers, propelling them toward EV readiness. This partnership further enriches Stellantis' U.S. portfolio of EV infrastructure and training partners. The portfolio already includes names like Future Energy and Vehya.
The U.S. head of sales at Stellantis, Jeff Kommor, emphasized the company's commitment to electrification, stating, "Stellantis is in full-execution mode with an electrification strategy tailored to cater to our dealership network." He further highlighted the company's collaborative approach, working closely with the national dealer council to navigate the transformative phase the automotive industry is currently undergoing.
Echoing this sentiment, Dave Clower, senior vice president and general manager of AGI's Electrical Lighting and Maintenance Division, remarked on the criticality of dealer EV readiness in enhancing customer experience. He underscored AGI's longstanding expertise in building EV charging capabilities and expressed enthusiasm about expanding its relationship with Stellantis dealers.
The Stellantis-AGI partnership is a testament to the auto giant's unwavering commitment to electrification. By ensuring that its dealerships are equipped with top-tier EV charging infrastructure, Stellantis is not only gearing up for a sustainable future but also setting a benchmark for the industry.
Zacks Rank & Other Key Picks
Stellantis currently carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the auto space include Gentex (GNTX - Free Report) , Commercial Vehicle Group (CVGI - Free Report) and Allison Transmission (ALSN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GNTX’s 2023 sales and EPS implies year-over-year growth of 17.3% and 29.4%, respectively. The earnings estimate for 2023 has been revised upward by 7 cents in the past 30 days.
The Zacks Consensus Estimate for CVGI’s 2023 sales and EPS implies year-over-year growth of 4.05% and 102%, respectively. The earnings estimate for 2023 has been revised upward by 8 cents in the past 30 days.
The Zacks Consensus Estimate for ALSN’s 2023 sales and EPS implies year-over-year growth of 9.4% and 25.3%, respectively. The earnings estimate for 2023 has been revised upward by 39 cents in the past 30 days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.