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    STLA   NL00150001Q9

STELLANTIS N.V.

(STLA)
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Stellantis N : Ford to invest around $300 million to build electric car parts at UK plant

10/18/2021 | 02:00am EST

LONDON, Oct 18 (Reuters) - Ford said on Monday it would invest up to 230 million pounds ($316 million) to build electric car components at its Halewood factory in northern England.

The plant will produce around 250,000 power units a year from mid-2024, the first European in-house location to make electric vehicle parts for Ford, which has pledged that its car line-up for the continent will be all-electric by 2030.

The government is contributing to the investment through its Automotive Transformation Fund as brands intensify their electrification plans ahead of combustion engine bans, and countries vie with each other to secure jobs.

The British government has tended to provide around 10% of the total investment value for automotive firms.

"This is an important step, marking Ford’s first in-house investment in all-electric vehicle component manufacturing in Europe," said Ford's Europe President Stuart Rowley.

The carmaker also has a transmission facility in Cologne, Germany. Halewood, which employs around 500 people, was chosen due to "its excellent record on quality, competitiveness and the strong skills base and commitment of the employees," Ford said.

Nissan in July pledged to invest further in Britain with a new battery plant and Stellantis said less than a week later its Vauxhall Ellesmere Port factory would build electric vans.

Following Britain's 2016 Brexit vote, many in the automotive industry were concerned about trade barriers but the December 2020 exit deal between London and Brussels secured zero-tariff access for the sector, subject to a minimum level of parts sourced from the region.

"In this highly competitive, global race to secure electric vehicle manufacturing, our priority is to ensure the UK reaps the benefits," said business minister Kwasi Kwarteng. ($1 = 0.7273 pounds) (Reporting by Costas Pitas Editing by Frances Kerry)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
NISSAN MOTOR CO., LTD. -1.63% 628.9 End-of-day quote.12.30%
STELLANTIS N.V. -6.84% 15.566 Delayed Quote.13.97%
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Analyst Recommendations on STELLANTIS N.V.
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Financials
Sales 2021 148 B 167 B 167 B
Net income 2021 10 376 M 11 747 M 11 747 M
Net cash 2021 14 962 M 16 939 M 16 939 M
P/E ratio 2021 4,60x
Yield 2021 6,20%
Capitalization 48 766 M 55 183 M 55 208 M
EV / Sales 2021 0,23x
EV / Sales 2022 0,18x
Nbr of Employees 204 000
Free-Float 64,7%
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Stellantis N.V. Technical Analysis Chart | STLA | NL00150001Q9 | MarketScreener
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Mean consensus BUY
Number of Analysts 22
Last Close Price 15,57 €
Average target price 23,03 €
Spread / Average Target 48,0%
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Managers and Directors
Carlos Tavares Chief Executive Officer & Executive Director
Richard Keith Palmer Chief Financial Officer
John Jacob Philip Elkann Chairman
Harald J. Wester Chief Engineering Officer
Ned Curic Chief Technology Officer
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