Stellantis to give each of its 14 auto brands 10 years of funding

by SpeedLux

Stellantis CEO Carlos Tavares said on Thursday each of the automaker’s 14 auto brands will get funding over the next 10 years to prove themselves.

“For the time being, we love them all and you cannot kill what you love,” Tavares said at an Automotive News conference in response to a question of whether the automaker requires so many brands.

“When you love them, you give them a chance,” he added. “We are giving a 10-year visibility for each brand CEO in terms of product planning and funding.”

Stellantis was created following the merger of France’s PSA and Italian-American automaker Fiat Chrysler. Its brands consist of Peugeot, Citroen, Fiat, Chrysler, Jeep, Ram, Maserati, Alfa Romeo and others.

Tavares added that the automaker is re-engineering its strategy in China.

“We are now negotiating and changing very many things at core,” he said. “That is also something that needs time.”

He said before Stellantis presents its entire strategic plan at the end of the year, there will be declarations around “significant bricks of the things that we are right now negotiating and building with some partners”.

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