April 1, 2022
Stellantis Signs Binding Agreements with European Financing Partners
AMSTERDAM – After having entered into exclusive negotiations on December 17, 2021, Stellantis N.V. today announced the signing of binding agreements with BNP Paribas Personal Finance (“BNPP PF”), Crédit Agricole Consumer Finance (“CACF”) and Santander Consumer Finance (“SCF”) aimed at better organizing its current financial services platform in Europe.
“I am very pleased to confirm the signing of these agreements with our historical European banking partners,” said Carlos Tavares, Stellantis CEO. “Our strategy is to better leverage our financial services arms, both in Europe and North America, with the aim to double our net banking income by 2030. The new platform is setting the scene to achieve this target and boost value creation across our financial services business.”
These agreements support the financial services commitment which is part of Stellantis Dare Forward 2030 strategic plan, and aim at:
creating a multi-brand operational leasing company in which Stellantis and CACF each hold a 50% interest, resulting from the combination of the Leasys and Free2move Lease businesses, in order to become a European leader, with a fleet target of around 1 million vehicles in 2026, and
reorganizing the financing activities through joint ventures set up with BNPP PF or SCF in each country to manage financing activities for all Stellantis brands.
The transactions should be completed during the first half of 2023 once the required authorization has been obtained from the relevant anti-trust authorities and market regulators.
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com
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