MILAN : If playing catch up with Tesla is what everyone in the auto industry is about then Stellantis, the company formed from the merger of Fiat Chrysler and Peugeot, has had a good start – its shares have far outpaced its U.S. rival in its inaugural year.Fixing its business in China and overcapacity in Europe are just two areas where analysts want to see Stellantis making progress when Chief Executive Carlos Tavares unveils his detailed business plan on March 1.
Since forging the world's No. 4 carmaker by production, Tavares has mapped out a 30 billion euro electrification strategy, and formed alliances with Amazon and iPhone assembler Foxconn to accelerate development of software and semiconductors for future connected vehicles. All this despite facing a semiconductor and supply chain crunch that cost global automakers millions of vehicles in lost production last year and is not expected to ease quickly.
This at a time when Tesla is leading the industry transition to an electric and software-driven future with a single brand and a highly focused strategy. "When you love them, you give them a chance," he said, adding each brand would be given 10 years to prove itself profitable.
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