Stellantis (STLAM) presented its long-term recovery roadmap at the Jefferies Global Industrials Conference on Thursday, laying out a €60 billion investment program through 2030 aimed at restoring profitability after a turbulent year for the automaker.
Shares of Stellantis have fallen 52% year-to-date, trading at $5.29 near its 52-week low of $5.08, according to InvestingPro data. The company's levered free cash flow over the trailing twelve months stands at negative $13.2 billion. InvestingPro estimates a fair value of $7.38 per share.
CEO Antonio Filosa described 2026 as a "reset" year and the starting point for the company's Value Creation Program (VCP), which has engaged 3,000 employees mapping 9,000 cost-saving initiatives. The VCP targets at least €2.4 billion in savings by 2027, representing roughly 40% maturity of the initiatives, with a run rate of €6 billion expected from 2028 onward.
The FaSTLAne 2030 plan calls for €60 billion in total investment, 40% of which will go toward transversal global assets including shared platforms, software development, and global powertrains. Up to 60 new products are slated for launch across the group's brand portfolio over the decade. By 2030, Stellantis aims to achieve an adjusted operating income margin of 8% to 10%.
Free cash flow is projected to turn positive in 2027, with a commitment to deliver €3 billion in positive free cash flow by 2028. "We are highly confident that today we are on track with those first three steps," Filosa said. "We are on track to deliver guidances that include, for instance, 2027, free cash flow positive, that include a commitment of EUR 3 billion free cash flow positive in 2028."
In North America, Stellantis reported revenue growth of approximately 27% and profit growth of about 10%. The company plans to expand its product market coverage in the region from 55% to 90% by 2030. Quality improvements posted a 38% year-over-year gain in North America and 24% in Europe. The Ram segment gained between 3.1 and 3.2 percentage points of segment share compared to the prior year. Additional raw material inflation of €600 million is expected to flow from the first half into the second half of the year.
Product timing was detailed across multiple segments. In 2027, Stellantis plans complete refreshes of the Jeep Grand Cherokee, Wrangler and Gladiator, along with two new products for Chrysler and Dodge. The Ram TRX will launch with 777 horsepower, and a new sport-truck segment is being introduced, with the first trim already on sale and subsequent trims rolling out in the first half of next year. A full-size Ram SUV is scheduled for 2028, alongside a comprehensive Jeep off-road offensive and a full Peugeot lineup refresh.
On manufacturing, Filosa confirmed the Belvidere, Illinois plant will restart to build the Jeep Cherokee for the U.S. market, replacing current production in Mexico. Stellantis also disclosed a joint-venture structure with Leapmotor International that is 51% owned by Stellantis and 49% by its partner, with Stellantis retaining distribution exclusivity and decision control. Capacity sharing arrangements with Leapmotor and Dongfeng are in place at facilities in Rennes, France, and Madrid, Spain. A potential plant partnership with Jaguar Land Rover is also being explored.
When asked about the U.S. strategy, Filosa emphasized local production. "The U.S. will 100% rely on American engineering, developing American cars, for our American brands in our American plants for our American customers. So it's going to be a full 100% American story," he said.
Stellantis targets global annual production and sales of approximately 6 million units. The average product development cycle remains 24 months. In Europe, the company holds a 28% share of the light commercial vehicle market.
