Stellantis has reported significant growth in the European electrified market during the first four months of 2024, signaling a strong start to the year for the automaker. Despite tough industry competition and the absence of incentives in many key European markets, Stellantis has emerged as a leader in the transition to electrification.
Uwe Hochgeschurtz, Stellantis Chief Operating Officer, Enlarged Europe, highlighted the company’s performance, stating, “Our first months’ results reflect the tough industry competition, in absence of incentives in many significant European markets. We are leading the transition to electrification in many of our key countries and our commercial vehicle offer remains unrivaled.”
The company reported over 6% year-over-year growth in the Battery Electric Vehicle (BEV) market across 10 major European markets, including France, Portugal, and Poland. Stellantis currently holds a 14.1% year-to-date market share in the EU29, indicating its strong position in the region’s electrified vehicle market.
Stellantis has been actively investing in electric vehicle production within Europe, aiming to expand its offerings and technological capabilities. In January 2024, the company’s venture arm invested in France-based Tiamat to develop and commercialize sodium-ion battery technology, showcasing its commitment to exploring different battery technologies for its BEVs. Stellantis is also considering a partnership with CATL from China, further highlighting its strategic focus on expanding its electric vehicle portfolio.
With the launch of over 25 new made-in-Europe models across all brands, Stellantis expects to maintain its momentum and drive further growth throughout the year. The company’s strong sales trend, robust order backlog, and improving order intake indicate a positive outlook for the second quarter and beyond, solidifying its position as a key player in the European electrified vehicle market.
