Stellantis To Supply 250K Vehicles To Rental Firm SIXT
Portfolio Pulse from Shivani Kumaresan
Stellantis NV (NYSE:STLA) has entered into a multi-billion euro agreement with SIXT, a mobility service provider, to supply up to 250,000 vehicles for SIXT's rental fleet over the next three years. The vehicles will be deployed across Europe and North America and will include a range of Stellantis' brands and vehicle classes, with various propulsion types, including battery electric vehicles (BEV). The partnership also explores cooperation in data services. The first major delivery is expected in Q1 2024. Meanwhile, STLA shares dropped by 3.18% to $21.59.
January 16, 2024 | 7:15 pm
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Stellantis NV has secured a significant deal with SIXT to supply up to 250,000 vehicles, indicating strong future sales and potential growth in market share within the rental sector. The deal includes electric vehicles, aligning with environmental goals. However, STLA shares fell by 3.18% to $21.59.
The agreement with SIXT is a positive development for Stellantis, indicating an increase in future sales and a strategic move into the rental market with a focus on electric vehicles. The short-term stock price drop could be due to market fluctuations or unrelated factors, but the long-term outlook based on this deal is positive. The confidence level is not at 100 due to the lack of specific financial details in the article and the current stock price movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100