StellantisCarlos Tavares (CEO) announced Tuesday that Fiat Chrysler will double its annual revenue to 300 Billion Euros ($335 Billion) by 2030.

Tavares stated during an investor presentation about Stellantis’ business plans for the next decade that they plan to make this happen while maintaining a two-digit operating profit margin.

Stellantis – the world’s fourth-largest carmaker – plans to increase its software-based businesses and servicesBuying 5,000,000 all-electric cars by 2030. This includes all passenger car sales in Europe, 50% of passenger cars in America and 50 percent of light-duty trucks and passenger cars in Europe.

Tavares declared that, “We’re moving and we’re moving fast to be mobility-tech companies,” during the event.

Automaker General Motors plans to produce more than 20 Billion Euros ($22.3 Billon) of industrial-free cash flow by 2030. Additionally, it targets 25%-30% payout ratios and will repurchase up-to 5% common shares throughout 2025.

Stellantis shares did not benefit from these announcements. Stellantis shares on the New York Stock Exchange were down Tuesday by about 3% during premarket trading to $17.69 a share.

Stellantis was created in January 2021 by the merger between Fiat Chrysler, France-based Groupe PSA and Fiat Chrysler. You will find 14 different brands of vehicles such as Alfa Romeo and Chrysler. DodgeFiat and Jeep.

Tavares indicated that by 2030 the automaker will launch 25 more all-electric models in America. Next year, a smaller Jeep SUV will be among the first. an electric Dodge muscle car.

Stellantis has invested 30 billion Euros ($34 billion).) in electric vehiclesSupporting technologies and tools through 2025

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