A view shows the logo of Stellantis at the entrance of the company's factory in Hordain, France, July 7, 2021.
A view shows the logo of Stellantis at the entrance of the company's factory in Hordain, France, July 7, 2021. Reuters / Pascal Rossignol

Stellantis said on Tuesday that it aims to double its revenue to 300 billion euros ($335 billion) by 2030 and maintain high profit margins as it pushes to roll out electric versions of its cars, profitable Jeep SUVs and RAM pickup trucks.

The world's No.4 carmaker said it aims to have 75 battery electric vehicle (EV) models on the market and sell 5 million electric models annually by 2030.

Stellantis said it will pursue an "asset-light" model for its flagging China business to reduce fixed costs and expects electric vehicles to make up 100% of its sales in Europe and 50% of sales in the United States by 2030.

The company said it aims to cut its carbon emissions 50% versus 2021 by the start of the next decade.

The carmaker expects to hit its target of 5 billion euros of synergies from the merger by the end of 2024, one year earlier than previously targeted. It was created from the combination of Fiat Chrysler and Peugeot maker PSA.

Stellantis said it expects 30% of its sales to be online by 2030 and for revenue from luxury and premium car sales to quadruple by then.

Earlier in the day, Chief Executive Carlos Tavares announced the creation of a task force to conform with sanctions against Russia and monitor its staff in Ukraine

Tavares said Stellantis' business in Russia represented around 20 million euros ($22.4 million) in terms of results, and that its staff in Ukraine were so far safe.

Leading carmakers, airlines and banks have cut shipments, ended partnerships and condemned Russia's actions as President Vladimir Putin moved into the sixth day of the military offensive on Ukraine and a massive convoy approached the capital Kyiv.

Tavares said he hoped very soon to announce a deal with the Italian government on a battery plant the group wants to build in the country, after Rome pledged last month to support it with 369 million euros of public money.

The battery plant in Termoli, southern Italy, would be Stellantis' third in Europe, after ones previously announced in France and Germany, and would be converted from an existing combustion engine plant.

Tavares said he did not expect the global semiconductor chip shortage that has caused carmakers worldwide to slash production to end in 2022.

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