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Stellantis (STLA) Partners With Ample for Battery Technology
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Stellantis N.V. (STLA - Free Report) has signed a binding agreement with Ample to integrate Ample’s Modular Battery Swapping technology in Stellantis’ electric vehicles (“EVs”). With this technology, EV users can swap their depleted EV battery with a fully charged battery in less than five minutes at a battery swapping station.
Stellantis is also in talks with Ample to expand the application of Ample’s Modular Battery Swapping technology to meet the automaker’s fleet and consumer demand across other platforms and geographies.
The program that will use a fleet of 100 Fiat 500e’s within Stellantis’ Free2move car sharing service is scheduled to start in 2024 in Madrid, Spain. The Fiat 500e is Stellantis’ highest-selling EV.
Per Ricardo Stamatti, senior vice president & global head of Stellantis Energy & Free2move Charge, Ample’s Modular Battery Swapping solution can offer Stellantis’ customers higher energy efficiency, outstanding performance and lower range anxiety.
Ample’s Modular Battery Swapping solution offers fast and convenient charging. The batteries are devised to be a drop-in replacement for an EV’s original battery. These batteries can fit into any EV, allowing Stellantis to integrate the technology without making any changes to its vehicle platform.
Ample’s battery swapping station can be quickly deployed in public areas, making the infrastructure rapidly scalable. The swapping station quickly recognizes an approaching Ample-enabled vehicle. After parking the vehicle, the driver can initiate a battery swap using the mobile application, resulting in a fully charged battery in a few minutes.
The Modular Battery Swapping solution is fast and cost-effective, which minimizes the out-of-service time for EVs and the related financial impacts. The technology will be offered to EV customers on a subscription basis, minimizing the upfront total cost of the vehicle and allowing the users to have the latest battery technology.
As a part of the Dare Forward 2030 plan, Stellantis aims to achieve a 100% passenger car battery electric vehicle (“BEV”) sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by the end of the decade.
Stellantis is securing approximately 400 GWh of battery capacity to achieve these targets. All these investments will help the automotive manufacturer reduce its carbon footprint to half by 2030 compared with 2021 and achieve carbon net zero by 2038.
The Zacks Consensus Estimate for VLVLY’s 2023 sales and earnings indicates year-over-year growth of 4.2% and 65.6%, respectively. The EPS estimates for 2023 and 2024 have increased by 32 cents and 11 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for RNLSY’s 2023 sales and earnings indicates year-over-year growth of 4.5% and 128.1%, respectively. The EPS estimates for 2023 and 2024 have increased by 15 cents and 2 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for BYDDY’s 2023 sales indicates year-over-year growth of 160.2%. The EPS estimates for 2023 and 2024 have increased by 59 cents and 55 cents, respectively, in the past 60 days.
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Stellantis (STLA) Partners With Ample for Battery Technology
Stellantis N.V. (STLA - Free Report) has signed a binding agreement with Ample to integrate Ample’s Modular Battery Swapping technology in Stellantis’ electric vehicles (“EVs”). With this technology, EV users can swap their depleted EV battery with a fully charged battery in less than five minutes at a battery swapping station.
Stellantis is also in talks with Ample to expand the application of Ample’s Modular Battery Swapping technology to meet the automaker’s fleet and consumer demand across other platforms and geographies.
The program that will use a fleet of 100 Fiat 500e’s within Stellantis’ Free2move car sharing service is scheduled to start in 2024 in Madrid, Spain. The Fiat 500e is Stellantis’ highest-selling EV.
Per Ricardo Stamatti, senior vice president & global head of Stellantis Energy & Free2move Charge, Ample’s Modular Battery Swapping solution can offer Stellantis’ customers higher energy efficiency, outstanding performance and lower range anxiety.
Ample’s Modular Battery Swapping solution offers fast and convenient charging. The batteries are devised to be a drop-in replacement for an EV’s original battery. These batteries can fit into any EV, allowing Stellantis to integrate the technology without making any changes to its vehicle platform.
Ample’s battery swapping station can be quickly deployed in public areas, making the infrastructure rapidly scalable. The swapping station quickly recognizes an approaching Ample-enabled vehicle. After parking the vehicle, the driver can initiate a battery swap using the mobile application, resulting in a fully charged battery in a few minutes.
The Modular Battery Swapping solution is fast and cost-effective, which minimizes the out-of-service time for EVs and the related financial impacts. The technology will be offered to EV customers on a subscription basis, minimizing the upfront total cost of the vehicle and allowing the users to have the latest battery technology.
As a part of the Dare Forward 2030 plan, Stellantis aims to achieve a 100% passenger car battery electric vehicle (“BEV”) sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by the end of the decade.
Stellantis is securing approximately 400 GWh of battery capacity to achieve these targets. All these investments will help the automotive manufacturer reduce its carbon footprint to half by 2030 compared with 2021 and achieve carbon net zero by 2038.
Zacks Rank & Other Key Picks
STLA currently sports Zacks Rank #1 (Strong Buy).
Some other top-ranked players in the auto space are Volvo (VLVLY - Free Report) , Renault SA (RNLSY - Free Report) and BYD Company Limited (BYDDY - Free Report) , each sporting Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for VLVLY’s 2023 sales and earnings indicates year-over-year growth of 4.2% and 65.6%, respectively. The EPS estimates for 2023 and 2024 have increased by 32 cents and 11 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for RNLSY’s 2023 sales and earnings indicates year-over-year growth of 4.5% and 128.1%, respectively. The EPS estimates for 2023 and 2024 have increased by 15 cents and 2 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for BYDDY’s 2023 sales indicates year-over-year growth of 160.2%. The EPS estimates for 2023 and 2024 have increased by 59 cents and 55 cents, respectively, in the past 60 days.