Core Viewpoint - Stellantis N.V. has appointed Antonio Filosa as the new Chief Executive Officer, effective June 23, 2025, following a comprehensive search process led by the Board of Directors [1][3][4]. Group 1: Leadership Transition - Antonio Filosa will assume CEO powers on June 23, 2025, and an Extraordinary Shareholder Meeting will be held for his election to the Board as an executive director [2][3]. - The Board's decision to select Filosa was based on his extensive experience in the automotive industry, with over 25 years of hands-on success and a deep understanding of the company [4][8]. - John Elkann will continue as Executive Chairman during this transition, and Filosa will announce Stellantis' new leadership team upon taking office [7]. Group 2: Filosa's Background and Achievements - Filosa has previously served as Chief Operating Officer for the Americas and Chief Quality Officer, leading Stellantis in both North and South America [2][5]. - Under his leadership, the FIAT brand achieved a market-leading position in South America, and he significantly grew the Peugeot, Citroën, Ram, and Jeep brands [5][6]. - He played a key role in establishing the Pernambuco plant, one of South America's largest automotive hubs, and successfully launched Jeep in Brazil, making it a leading market for the brand outside the U.S. [5][6]. Group 3: Industry Context - The appointment of Filosa comes at a crucial time for the global automotive industry, which is undergoing significant transformation [8][9]. - Filosa emphasized the importance of the company's heritage and commitment to innovation, stating that the legacy of Stellantis' iconic brands will be vital for future success [9].

Group 1 - Stellantis appointed Antonio Filosa as the new CEO, concluding a prolonged search for leadership [1][2] - Filosa, currently the North American boss, will officially take on CEO responsibilities starting June 23 [2] - An extraordinary shareholder meeting will be held soon for Filosa's election to the board as an executive director [2]

Core Viewpoint - Stellantis N.V. (NYSE: STLA) is initiated with a Buy rating and a price target of $14, focusing on its diverse range of automobiles and commercial vehicles in global markets [1] Group 1: Company Overview - Stellantis designs, manufactures, and markets a broad range of automobiles, commercial vehicles, and related parts and services [1] Group 2: Research Methodology - Moretus Research employs a structured, repeatable framework to identify companies with durable business models, mispriced cash flow potential, and intelligent capital allocation [1] - The research combines rigorous fundamental analysis with a high-signal, judgment-driven process, avoiding noise and overly complex forecasting [1] - Valuation is based on sector-relevant multiples tailored to each company's business model and capital structure, emphasizing comparability, simplicity, and relevance [1] Group 3: Investment Thesis - The Buy thesis is supported by a focus on underappreciated companies undergoing structural change or temporary dislocation, where dispassionate analysis can lead to asymmetric returns [1] - Moretus Research aims to provide professional-grade insights, actionable valuation, and a strong filter for what truly matters in modern equity analysis [1]

Group 1 - The article presents the market capitalization changes of global automotive manufacturers as of May 22, 2025, highlighting significant fluctuations in their valuations [1][3][4] - BMW's market capitalization stands at $555.1 billion, experiencing a decrease of 1.95% [3] - Porsche's market capitalization is reported at $475.13 billion, with a decline of 2.05% [3] - General Motors has a market capitalization of $474.66 billion, down by 8.06% [3] - The market capitalization of Mahindra & Mahindra is $433.59 billion, showing an increase of 3.82% [3] - Honda's market capitalization is $420.95 billion, reflecting a rise of 3.26% [3] - Ford's market capitalization is $416.74 billion, with a significant drop of 9.55% [3] - Hyundai's market capitalization is $348.13 billion, up by 9.84% [3] - Tata Motors has a market capitalization of $312.89 billion, increasing by 3.4% [3] - The market capitalization of Li Auto is $296.46 billion, with a notable increase of 8.86% [3] Group 2 - The article also lists other automotive manufacturers, such as Nissan with a market capitalization of $86.86 billion, down by 1.97% [4] - Renault's market capitalization is $162.33 billion, showing a slight increase of 0.73% [4] - Changan Automobile has a market capitalization of $154.73 billion, up by 2.42% [4] - Subaru's market capitalization is $133.5 billion, reflecting a decrease of 2.57% [4] - VinFast Auto's market capitalization is $82.56 billion, with a minor decline of 0.23% [4]

Core Insights - The 2026 Dodge Charger Daytona Scat Pack Plus is introduced as the world's only four-door muscle car, showcasing a blend of performance and practicality [1][2] - The new model features both four-door sedan and two-door coupe options, maintaining similar design and performance characteristics across both variants [3][4] Design and Performance - The Charger Daytona lineup retains a 1968-inspired exterior design, with a common roofline and bold, coupe-like appearance for both four-door and two-door models [5][4] - The 2026 Charger Daytona Scat Pack delivers 670 horsepower and 627 lb-ft of torque, achieving 0-60 mph in just 3.3 seconds, comparable to Hellcat Redeye performance [9][5] - The vehicle includes a full suite of Drive Modes and race options, enhancing the driving experience [10][9] Interior and Features - The four-door model boasts best-in-class rear cargo volume and passenger space, with a maximum rear cargo area of 38.5 cubic feet, which is 133% more than the outgoing model [6][5] - Standard features include a 16-inch cluster screen, 12.3-inch Uconnect 5 radio, and a suite of safety equipment [10][12] Customization and Options - New custom looks include Fratzog dual stripes and gloss black painted hood options for both four-door and two-door models [7][8] - The Track Package is now an optional feature, allowing customers to choose between entry-level performance or fully loaded muscle car hardware [11][10] Availability and Future Models - Orders for the 2026 Dodge Charger Daytona models are open, with deliveries expected in the second half of 2025 [8][5] - The Dodge Charger SIXPACK-powered models are also set to launch in the same timeframe [8][5]

Core Insights - Stellantis will participate in Bernstein's 41st Annual Strategic Decisions Conference on May 29, 2025, featuring a fireside chat with CFO Doug Ostermann [2] Company Overview - Stellantis N.V. is a leading global automaker with a diverse portfolio of brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move, and Leasys [3]

Investment Rating - The investment rating for the electric power equipment industry is "Positive" (maintained) [1] Core Viewpoints - The report highlights a significant increase in BEV sales among major automakers in Europe, indicating a strong trend towards electrification in the automotive industry. Renault's BEV sales grew by 88% year-on-year, Volkswagen's by 113%, and BMW's by 64% in Q1 2025 [4][14][23] - The introduction of new electric vehicle models is expected to sustain the electrification trend, with various automakers planning to launch competitively priced electric vehicles in the coming years [6][37] - The report discusses the implications of carbon emission regulations, noting that a shift to a three-year average assessment period for emissions targets could alleviate pressure on automakers and allow for better planning and execution of new model launches [53] Summary by Sections Sales Performance - In Q1 2025, Renault's BEV sales increased by 88% year-on-year, with a penetration rate of 17.1% [15] - Volkswagen's BEV deliveries in Europe rose by 113%, achieving a market share of approximately 26% [19][21] - BMW's BEV sales in Europe grew by 64%, with a penetration rate of 18.7% [23] New Model Launches - Stellantis plans to introduce multiple new models priced below €25,000, which are expected to boost sales in Q2 2025 [40] - Renault's new model, the Renault 4, is set to launch in Q2 2025, building on the success of the Renault 5 [41] - Volkswagen will showcase a new range of entry-level BEVs in September 2025, with the ID.2 model expected to launch in 2026 [45] Carbon Emission Regulations - The European Parliament has approved a revision of carbon emission regulations, shifting to a three-year average assessment, which is seen as beneficial for the industry [53] - Stellantis believes that relaxing the assessment timeline can prevent panic pricing strategies in late 2025 [54] - BMW is confident in meeting the revised emission targets, having already exceeded previous goals [58] Investment Recommendations - The report recommends investing in companies involved in lithium batteries, such as CATL and Yiwei Lithium Energy, as well as companies producing lithium materials and components [59]

Investment Rating - The investment rating for the electric power equipment industry is "Positive" (maintained) [1] Core Insights - The report highlights a significant increase in BEV sales among major automakers in Europe, indicating a strong trend towards electrification in the automotive industry. Renault's BEV sales grew by 88%, Volkswagen's by 113%, and BMW's by 64% in Q1 2025 [4][14][23] - The introduction of new electric vehicle models is expected to sustain the electrification trend, with Stellantis and Renault planning to launch multiple affordable B-segment electric vehicles by the end of 2024 [6][37] - The report discusses the impact of carbon emission regulations, noting that the EU has revised its assessment method to consider a three-year average from 2025 to 2027, which may alleviate immediate pressure on automakers [53] Summary by Sections Sales Performance - In Q1 2025, Renault's BEV sales increased by 88%, with a penetration rate of 17.1% in Europe. The Renault 5 model was the best-selling B-segment electric vehicle [15][18] - Volkswagen's BEV deliveries in Europe rose by 113%, achieving a market share of approximately 26% [19][21] - BMW's BEV sales in Europe grew by 64%, with a penetration rate of 18.7% [23][25] - Chinese automakers are increasing PHEV exports to mitigate the impact of tariffs, with BYD's sales in Europe rising by 124% [5][32] New Model Launches - Stellantis plans to launch several new models priced below €25,000, which are expected to boost sales in Q2 2025 [40] - Renault's new model, the Renault 4, is set to launch in Q2 2025, building on the success of the Renault 5 [41] - Volkswagen will showcase a new range of entry-level BEVs in September 2025, with the ID.2 model expected to launch in 2026 [45] - BMW is set to begin production of the iX3 by the end of 2025, with a series of NEUE KLASSE models to follow [46] Carbon Emission Regulations - The EU's revised carbon emission assessment method is expected to provide automakers with more time to meet targets, with a focus on increasing BEV penetration rates [53] - Stellantis believes that the revised timeline will prevent panic pricing in Q4 2025 [54] - Renault emphasizes the importance of reducing costs to maintain competitiveness in the electric vehicle market [55] - Volkswagen anticipates continued pressure in 2025, despite the regulatory changes [57] - BMW expresses confidence in meeting carbon emission targets due to its current BEV penetration rate [58] Investment Recommendations - The report recommends investing in companies involved in lithium batteries, such as CATL and Yiwei Lithium Energy, as well as companies producing lithium materials and components [59]

Group 1: Global Automotive Production Overview - In 2024, global automotive production is projected to reach 92.5 million units, with Africa contributing only 1.18 million units, accounting for 1.27% of the total production [1] - South Africa and Morocco dominate African automotive production, with South Africa producing 632,285 vehicles (50.9% market share) and Morocco producing 559,645 vehicles (45.5% market share) [1] - South Africa's automotive market is characterized by a mature ecosystem with 430 suppliers and component manufacturers, while Morocco has a growing presence with two major manufacturers [1][3] Group 2: South Africa's Automotive Industry - Approximately 62% of South Africa's automotive production is exported, primarily to Europe, with a goal to increase annual production to 1.4 million units by 2035 [2] - South Africa faces challenges such as ongoing electricity supply shortages affecting manufacturing and new U.S. tariffs impacting exports to the U.S. by about 30,000 vehicles annually [2] - The local production includes popular models like BMW X3, Mercedes-Benz C-Class, and Toyota Corolla, with Volkswagen leading local production at 167,084 units [1] Group 3: Morocco's Automotive Industry - Morocco has solidified its position as Africa's leading passenger car producer, with Renault Morocco achieving a record production of 413,614 vehicles in 2024, a significant increase from previous years [3][4] - The local automotive industry in Morocco boasts a high localization rate of 65.5%, with plans to increase it to 80% by 2030, supported by a network of 90 local partners [4] - Stellantis Morocco produced 111,000 vehicles in 2024, with a localization rate of 70%, and aims to enhance its local supply chain further [4]

Group 1 - Xavier Chardon has been appointed as the new CEO of Citroën, tasked with further expanding the brand's success and accelerating its transformation in the rapidly changing automotive industry [3][11] - Stellantis Group, formed by the merger of PSA and FCA, is the fourth largest automotive group globally, with 15 brands under its umbrella, covering various market segments from luxury to commercial vehicles [3] - Citroën, established in 1919, became part of the PSA Group in 1976, and the Dongfeng Citroën brand was formed in 2014 as a joint venture with Dongfeng Motor [8] Group 2 - The new Citroën C5 AIRCROSS, based on the STLA Medium architecture, was unveiled on April 29 this year, featuring a new interior design and multiple powertrain options including gasoline, hybrid, and electric [8] - Dongfeng Citroën's sales figures for January to April show a total of 7,370 vehicles sold, with the C5 X model accounting for 6,809 units sold [11] - Following the resignation of CEO Thierry Koskas in December 2024, Stellantis has announced several executive changes, with a focus on leveraging Chardon's extensive experience in the automotive industry to enhance Citroën's market position [11]