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Amended: Stellantis Targets About EUR 20 Bln In Incremental Annual Revenues By 2030

Stellantis N.V. (STLA), comprising Fiat Chrysler Automobiles N.V. and France's Peugeot S.A., said Tuesday that it targets incremental revenue of about 4 billion euros annually by 2026 and about 20 billion euros by 2030, driven by software-enabled product offerings and subscriptions.

Stellantis said that now, it has 12 million monetizable connected cars globally. By 2026, it is expected to grow to 26 million vehicles and by 2030, it will reach 34 million vehicles.

The automaker plans to invest more than 30 billion euros through 2025 to execute its software and electrification transformation.

Three all-new, AI-powered, technology platforms will be deployed at scale, starting in 2024: STLA Brain, STLA SmartCockpit and STLA AutoDrive.

Stellantis noted that it is creating a software and data academy to retrain more than 1,000 internal engineers in multiple roles and develop its software community.

The company is also hiring top software and AI talent from technology and other industries globally.

By 2024, Stellantis targets having 4,500 efficiency-driven software engineers, creating talent hubs around the globe.

In addition, Stellantis said it signed the new non-binding memorandum of understanding with Foxconn, aiming to design a family of purpose-built micro-controllers to support Stellantis and third-party customers.

Stellantis said it continues its projects with Waymo. As Chrysler Pacifica Hybrids equipped with the Waymo Driver provide thousands of fully autonomous rides in Phoenix, Arizona (USA), Stellantis and Waymo have now expanded their partnership to local delivery services.

(Amended: Headline and intro corrected to say the revenue is incremental)

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