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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.

Fiat seeking $10B in financing to buy Chrysler

As Fiat looks to become the full owner of Chrysler, all it has standing in its way is the retiree trust of the United Auto Workers, which currently holds the remaining 41.5 percent of the company as the result of the Pentastar's bankruptcy deal. The Detroit News is reporting that that Fiat is currently talking to numerous banks in an attempt to raise around $10 billion to fund the purchase of Chrysler's remaining stake with enough left over to refinance the debt of both companies. We've known that Fiat has been working to obtain the capital to buy out Chrysler for some time now, but this is the first time we've seen Fiat tip its hand about how much cash it thinks it will need to close the deal.
The first order of business is a legal dispute over the value of the UAW's stake in Chrysler, which the report indicates could cost Fiat around $3.5 billion. The acquisition of remaining shares could happen by this summer, but it sounds like CEO Sergio Marchionne (above) might not be ready for a full merger until next year.

The company formerly known as Chrysler is now Stellantis

Introducing Stellantis. Talk to your doctor before using Stellantis as side effects may include model redundancy, the overwhelming urge to apply Dodge badges to Peugeot crossovers, and weak stream. Honestly, how can you not poke just a little fun at the name chosen for the new multi-national corporation that will result once the merger of Fiat Chrysler Automobiles (FCA) and Peugeot S.A. (Groupe PSA) is completed in the first quarter of 2021. According to the press release, "Stellantis is rooted in the Latin verb 'stello' meaning 'to brighten with stars' ... The name's Latin origins pay tribute to the rich history of its founding companies while the evocation of astronomy captures the true spirt of optimism, energy and renewal driving this industry-changing merger." The "Latin origins" of the French company Peugeot and the Italian Fiat are obvious. Chrysler, on the other hand, was founded by a man born in Kansas whose father was a Canadian-American of German and Dutch ancestry (thanks Wikipedia). His mother was also of German ancestry. So yeah, the name Stellantis is really only related to the Peugeot and Fiat bits. The Americans are just along for the ride with their Jeeps and Hellcats.  And it should be noted that we will henceforth never write "Stellantis" in ALL CAPS as the corporation does because it's silly and we don't do it for Hummer, Mini, etc. Admittedly, Fiat could go either way since it's literally an acronym, but Fiat doesn't even bother doing that any more.   The name Stellantis will only be applied at the corporate level, so effectively in place where you previously would've said Fiat-Chrysler or FCA. There won't be a Stellantis Challenger.  We produced a list last year of all the cars that are currently made by the brands within Stellantis. Here's also a list of all the names that the company we generically know as "Chrysler" has gone through over the years. Chrysler Corporation (1925-1998) DaimlerChrysler (1998-2007) Chrysler LLC (2007-2009) Chrysler Group (2009-2014) Fiat Chrysler Automobiles (2014-2021) Stellantis  There have also been secondary corporate entities. There was Diamond Star Motors from 1985 to 2015, a manufacturing joint venture between Mitsubishi and whatever Chrysler was called at the time. It resulted in the Plymouth Laser, a randomly selected example pictured above, amongst other automotive diamonds.