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BRIEF-Stellantis does not see long-term impact from termination of JV with GAC in China - CEO

BRIEF-Stellantis does not see long-term impact from termination of JV with GAC in China - CEO

Reuters · 07/28/2022 08:03
BRIEF-Stellantis does see long-term impact from termination of JV with GAC in China - CEO

- Stellantis top executives told analysts in a post-earnings call:

  • CEO SAYS CO NOW TOTALLY FOCUSED ON EV LEADERSHIP

  • CEO SAYS CO WILL MAINTAIN BREAKEVEN POINT BELOW 50% OF REVENUES

  • CEO SAYS FAIR TO SAY CO'S MARKET CAP VERY CHEAP

  • CFO SAYS CO TO CANCEL OWN SHARES WHEN IT BUYS THEM FROM DONGFENG

  • CEO SAYS HE DOES NOT SEE OPERATING PROFIT MARGIN BELOW 10% IN 2024 AS A CREDIBLE SCENARIO

  • CEO SAYS HE DOES NOT SEE MAJOR LONG TERM IMPACT FROM DECISION TO BREAK JV IN CHINA WITH GAC

  • CEO SAYS SOME COMPETITORS WILL BE HURT IN THEIR CHINESE OPERATIONS

Further company coverage: STLA STLA.PA


(Reporting by Milan Newsroom)