PARIS, Aug 3 — US-European auto giant Stellantis, formed by Peugeot and Fiat Chrysler this year, posted today a sizeable first-half net profit and announced that its Alfa Romeo and Lancia brands would go fully electric.
“We feel we had a very strong first half in terms of margins and commercially speaking,” Palmer said in a press conference. Palmer said production would be reduced by another 500,000 vehicles in the third quarter but that the chip shortage is not expected to worsen. In Europe, its main market, sales were driven by the Peugeot 2008 model and the new Citroen C4, Opel Mokka and Fiat 500 electric cars.The company said it was going “full speed ahead” with the launch of 11 battery-electric vehicles and 10 plug-in-hybrids over the next 24 months.