Auto giant Stellantis posts record annual profit, announces $4.47 billion shareholder payout

Carmaker Stellantis connected Wednesday announced grounds full-year results, reporting a 26% emergence successful nett net to 16.8 cardinal euros ($17.9 billion) and a 41% yearly leap successful planetary artillery and electrical conveyance sales.

The Dutch-headquartered company, formed successful 2021 from the merger of Italian-American conglomerate Fiat Chrysler radical and France's PSA Group, said nett revenues roseate 18% to 179.6 cardinal euros connected the backmost of "strong nett pricing, favorable conveyance premix and affirmative FX translation effects."

Stellantis CEO Carlos Tavares said the results besides demonstrated the effectiveness of the company's electrification strategy successful Europe, with 288,000 artillery and electrical conveyance (BEV) income successful 2022 and 23 BEVs present connected the market. This fig is expected to treble to 47 models by the extremity of 2024, and Stellantis is targeting planetary BEV income of 5 cardinal by 2030.

"We present person the technology, the products, the earthy materials, and the afloat artillery ecosystem to pb that aforesaid transformative travel successful North America, starting with our archetypal afloat electrical Ram vehicles from 2023 and Jeep® from 2024," Tavares said.

"My heavy appreciation to each and each employee, and our partners, for their contributions to a much sustainable future."

The institution besides announced a 4.2 cardinal euro dividend payout to shareholders equating to 1.34 euros per share, taxable to shareholder approval, portion the committee approved a stock buyback of 1.5 cardinal euros to beryllium executed by the extremity of 2023.

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