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00:03Stellantis CEO Antonio Filosa will present a new long-term strategy to investors on Thursday
00:09at a Capital Markets Day in Auburn Hills, Michigan, according to Reuters.
00:14Filosa plans to concentrate funding on four core brands, Jeep, Ram, Peugeot, and Fiat,
00:21while keeping the remaining brands in a more niche or regional scope.
00:25The automaker will expand joint ventures with Chinese automakers,
00:28including an enlarged partnership with Leap Motor in Europe
00:32and a deal with Dongfeng to produce vehicles in China.
00:36Filosa also aims to revive U.S. sales by filling market gaps with the new Jeep Cherokee
00:41and compact and mid-sized pickup trucks.
00:44The company faces $26 billion in charges tied to scaling back its EV ambitions
00:49and must address excess production capacity across several countries.
00:53For all things money, visit Benzinga.com.
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