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Stellantis announces ‘Circular Economy’ business to drive revenue, decarbonization

Stellantis has already announced its plans to reach net-zero carbon emissions by 2038. Today, the automaker has announced a new business unit to help it reach that goal while generating 2 billion euros per year in revenue by 2030. The “Circular Economy” business will help make revenue less dependent on finite, rare and ecologically problematic materials. The Circular Economy model features what Stellantis calls a “4R” strategy, comprising remanufacturing, repair, reuse and recycling. The goal is to make materials last as long as they can, reducing reliance on the acquisition of those precious new materials in the future by returning them to the business loop when theyÂ’ve reached the end of their first life. Through these processes, Stellantis says it can save up to 80% raw material and 50% energy compared to manufacturing a new part. Remanufacturing, or “reman” in Stellantis shorthand, means dismantling, cleaning and rebuilding parts to OEM spec. Nearly 12,000 remanufactured parts are available for customers to purchase. Some remanufacturing is done in-house, and some with partners and through joint ventures. Repair is pretty obvious — fixing parts to put back into vehicles. This also consists of reconditioning, to make a vehicle feel like new. Stellantis boasts 21 “e-repair” centers for repairing electric vehicle batteries.  Reuse refers to parts still in good condition from end-of-life vehicles sold as-is. Stellantis says it has 4.5 million multi-brand parts in inventory. These are sold in 155 countries through the B-Parts e-commerce platform. Reuse also refers second-life options, such as using batteries outside of automotive purposes. Recycling involves dismantling parts and scraps back into raw material form that is then looped back into the manufacturing process. Stellantis says it has collected 1 million parts for recycling in the past six months. Recycling doesnÂ’t get counted in that aforementioned 2 billion euros of revenue, but it does save the company money on acquisition of raw materials. As for batteries, specifically, Stellantis expects this recycling business to ramp up after 2030, when the packs currently in service begin to reach the end of their lifecycle. Stellantis will use its new “SUSTAINera” label to denote parts that are offered as part of its Circular Economy business.

Dodge Viper returning to Le Mans this year?

If you were among the fans disappointed by Chrysler's recent decision to end the Dodge Viper's racing program, we may have some good news for you, as the racing outfit behind the campaign is reportedly working to bring the American supercars back to Le Mans this year. That racing outfit is Riley Technologies, a constructor perhaps best known for its Daytona Prototypes, but it has also prepared its share of GT racers, too. Chrysler charged Riley with leading its racing program for the new Viper GTS-R, campaigned it in the United SportsCar Championship and the 24 Hours of Le Mans. Auburn Hills made the unfortunate decision back in March to pull its Vipers out of Le Mans, and then in October to withdraw from the US series, as well, thereby effectively ending the program altogether. Disappointed though it surely was, Riley remains defiant. The North Carolina-based company is planning on taking the existing Vipers back to Le Mans on its own, with or without factory support. The Viper has, after all, proven a capable machine, having taken both the drivers' and teams' titles in the United SportsCar Championship this past season. "With Le Mans, every driver and every manufacturer needs to have their first trip there, and it isn't always what you want it to be, but we did show reliability and did have some pace," Bill Riley told Racer.com. "Since then, we've worked hard on the cars, they're now strong, front-running cars in the US, and we're working with the ACO on the BoP to make sure the cars are strong at Le Mans. They're super-reliable and fast, and we'd expect to be right in the mix with the other cars." Riley has kept the existing support staff in place, and once it secures its driver lineup and sponsors, chances look good that it could represent America well at Le Mans this year in either the GTE Pro or GTE Am class. Its predecessor did, after all, complete a three-year winning streak that saw it dominate the GTS class right up until its withdrawal in 2000. News Source: Racer.comImage Credit: FCA Motorsports Dodge Coupe Racing Vehicles

Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.