Stellantis Invests €130 Million in Eisenach Assembly Plant in Germany for Electric Opel Grandland Successor

Stellantis Invests €130 Million in Eisenach Assembly Plant in Germany for Electric Opel Grandland Successor

23.03.2023: • New battery electric vehicle (BEV) production on the STLA Medium platform set to launch in the second half of 2024 • Plant allocation supports Opel’s bold commitment to fully electric lineup by 2028 • Current Eisenach production includes

 
 
•    New battery electric vehicle (BEV) production on the STLA Medium platform set to launch in the second half of 2024


•    Plant allocation supports Opel’s bold commitment to fully electric lineup by 2028


•    Current Eisenach production includes Opel Grandland plug-in electric hybrid


•    Electrification of Stellantis products supports goals of Dare Forward 2030 strategic plan
 



Stellantis announced it will invest over €130 million in the Eisenach Assembly Plant in Germany, producer of the Opel Grandland compact SUV, to add production of the BEV successor vehicle that will be built on the all-new STLA Medium platform. Production of the new BEV is scheduled to begin in the second half of 2024.



Adding a BEV to Eisenach’s output supports Opel’s bold commitment to a fully electric product lineup by 2028 in Europe. The Opel Grandland currently produced at Eisenach includes also plug-in hybrid variants.



“Eisenach, our most compact plant in Germany, has demonstrated a strong drive in quality improvements,” said Arnaud Deboeuf, Stellantis Chief Manufacturing Officer.  “With this allocation of Stellantis’ new fully BEV platform, STLA Medium, Eisenach plant’s highly skilled workforce will continue to improve the cost and the quality of the vehicles they produce to delight our customers.”



“We have been building top-quality vehicles here in Thuringia for 31 years and improved our competitiveness continuously. We will stay on this clear path with the electric successor to the Opel Grandland,” said Florian Huettl, Opel CEO. “This decision is another important step for Opel on the way to the declared goal of being a purely electric brand in Europe by 2028.”



“At Stellantis, ‘We Win Together’ is a core value and this announcement for Eisenach demonstrates that value in action,” said Xavier Chereau, Chairman of the Opel Supervisory Board and Chief Human Resources & Transformation Officer at Stellantis. “A focus on improving quality and costs from Eisenach management and employees, combined with the input and social dialogue with the German union representatives, help define the future.”



“Thuringia is an automotive location with a great tradition that is currently making the transition to electromobility at top speed,” Thuringia Prime Minister Bodo Ramelow said. “Against this background, I am particularly pleased that Opel is playing a decisive role here and will be producing a future-proof model range in Eisenach.”



Opened in September 1992 with production of the Opel Astra, the Eisenach Assembly Plant is in the state of Thuringia, central Germany. In 2022 the plant celebrated its 30th anniversary with an Open Day event that commemorated production of 3.7 million vehicles.


The Eisenach investment is a key step in meeting the commitments of the Dare Forward 2030 strategic plan, which is led by deep emission cuts to slash CO2 in half by 2030, benchmarking 2021 metrics, and achieve carbon net zero by 2038 with single digit percentage compensation of the remaining emissions.



Core targets for Dare Forward 2030 also include 100% of passenger car sales in Europe and 50% of passenger car and light-duty truck sales in the United States to be BEVs by the end of the decade; the ambition of doubling Net Revenues by 2030 (versus 2021) and sustaining double-digit Adjusted Operating Income margins throughout the decade; and the aim to become number one in customer satisfaction for products and services in every market by 2030.



Stellantis is investing more than €30 billion through 2025 in electrification and software to deliver BEVs that meet customer demands.

 


The current models from Eisenach: Opel Grandland and Grandland GSe


The Opel Grandland from Eisenach has made a name for itself in the compact SUV segment. Sporty and elegant, intuitive to operable and equipped with innovative technologies, it inspires customers. With the fully digital Pure Panel, it offers a new kind of cockpit experience. In addition, the Grandland is equipped with further top technologies and assistance systems that customers have previously only been familiar with from higher vehicle classes.


First and foremost is the adaptive IntelliLux LED® Pixel light with a total of 168 LED elements. There is also Night Vision: the system that detects pedestrians and animals in the dark at a distance of up to 100 meters and actively warns the driver. The Opel SUV proudly wears the new face of the brand - the Opel Vizor.




 Customers have a choice of highly efficient combustion engine and plug-in hybrid variants. The top model is the sporty Opel Grandland GSe with electric all-wheel drive.
 
 





FORWARD-LOOKING STATEMENTS



This communication contains forward-looking statements. In particular, statements regarding future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, future financial and operating results, the anticipated closing date for the proposed transaction and other anticipated aspects of our operations or operating results are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis’ current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.



Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the impact of the COVID-19 pandemic, the ability of Stellantis to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; Stellantis’ ability to expand certain of their brands globally; its ability to offer innovative, attractive products; its ability to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the intense level of competition in the automotive industry, which may increase due to consolidation; exposure to shortfalls in the funding of Stellantis’ defined benefit pension plans; the ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the establishment and operations of financial services companies; the ability to access funding to execute Stellantis’ business plans and improve its businesses, financial condition and results of operations; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in Stellantis’ vehicles; Stellantis’ ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with our relationships with employees, dealers and suppliers; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in Stellantis’ vehicles; developments in labor and industrial relations and developments in applicable labor laws; exchange rate fluctuations, interest rate changes, credit risk and other market risks; political and civil unrest; earthquakes or other disasters; risks and other items described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2022 and Current Reports on Form 6-K and amendments thereto filed with the SEC; and other risks and uncertainties.



Any forward-looking statements contained in this communication speak only as of the date of this document and Stellantis disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning Stellantis and its businesses, including factors that could materially affect Stellantis’ financial results, is included in Stellantis’ reports and filings with the U.S. Securities and Exchange Commission and AFM.





Fernão SILVEIRA - photo Stellantis



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23.03.2023 / MaP

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