Stellantis (STLA) Speeds Up EV Shift With STLA Medium Platform
Stellantis STLA is actively accelerating its shift to electric vehicles. Two years ago, the company announced its plans to introduce four global electric vehicle (EV) platforms, the STLA Small, Medium, Large and Frame. With the unveiling of the first in this series, the STLA Medium platform, it is clear that the Italian American automaker is not just talking the talk but walking the walk.
Stellantis Gets Charged Up, Presents STLA Medium
The STLA Medium platform will be the first of the four to hit production, beginning in Europe, later this year. Designed with several propulsion configurations, it is built to accommodate a variety of dimensions, suspensions and wheelbases, thus demonstrating its modular nature. As a fully electric setup, the STLA Medium can offer a standard range of over 500 km, which can be extended to 700 km with a “performance pack.”
Motor options include a single electric motor on the front axle or motors on both axles, offering either front-wheel or all-wheel drive, respectively. Depending on the configuration, the power output varies from around 214 to approximately 382 horsepower.
Battery Tech and Charging Capabilities
The platform will offer two battery sizes, including a larger battery with a 98.0-kWh useable capacity, expected to provide up to 435 miles of range per charge based on the European WLTP test cycle. This roughly translates to 370 miles of range using the Environmental Protection Agency’s (EPA) methodology. The smaller standard battery will likely offer about 264 miles according to the EPA estimate.
Stellantis has chosen a 400-volt system for the STLA Medium platform, enabling the battery to charge from 20% to 80% in 27 minutes using a DC fast-charger. This decision, as CEO Carlos Tavares shared, aims to keep the upcoming EV models affordable. However, the platform is also designed to be compatible with an 800-volt system for future introduction.
The STLA Medium platform is designed to future-proof Stellantis' EV offerings. It can accommodate new battery chemistries such as solid-state as well as nickel- and cobalt-free packs. This adaptability extends to its ability to switch from a 400- to an 800-volt electrical system in the future.
The Stellantis Strategy
The STLA Medium platform is instrumental in Stellantis' strategic plan, Dare Forward 2030, which targets a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and a 50% mix in the United States by 2030. This platform is pivotal in the automaker's ambition to cut CO2 emissions by half by 2030 and achieve carbon neutrality by 2038.
Stellantis intends to manufacture the STLA Medium platform in several countries, including France, Italy, Germany and North America, showcasing the company’s global approach to EV technology. The production of 2 million STLA Medium-based EVs per year is projected, commencing in Europe and subsequently expanding to other markets.
The STLA Medium platform is a testament to the power of the global Stellantis technical community and will play a critical role in achieving the company's EV goals of reaching 100% passenger car EV sales in Europe and 50% in the United States by 2030.
The unveiling of the STLA Medium platform thus marks a significant step forward in Stellantis' commitment to sustainable mobility. The automaker is not just gearing up to be part of the electric revolution but aims to be a leader in it.
Zacks Rank & Key Picks
Stellantis currently carries a Zacks Rank #3 (Hold).
A few top-ranked stocks in the auto space include Honda HMC, Subaru Corp FUJHY and Li Auto LI, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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The Zacks Consensus Estimate for LI’s current-year sales and EPS estimates implies year-over-year growth of 131% and 2,400%, respectively. The consensus mark for the 2023 bottom line has improved from a loss of 8 cents per share to a profit of 25 cents a share over the past 60 days. The company’s stock has gained nearly 78% year to date.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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