|Bid||14.84 x N/A|
|Ask||14.98 x N/A|
|Day's range||14.82 - 15.05|
|52-week range||6.80 - 15.40|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||6.41|
|Forward dividend & yield||0.10 (0.69%)|
|Ex-dividend date||19 Apr 2021|
|1y target est||N/A|
Stellantis (NYSE: STLA), the automotive giant formed by the merger of Fiat Chrysler Automobiles and PSA, the parent company of Peugeot, reported that its revenue and total vehicle shipments grew in the first quarter of 2021 despite the impact of an ongoing global shortage of semiconductors. The company said it expects the chip shortage to worsen in the current quarter before easing somewhat in the second half of 2021. Like some other European companies, Stellantis plans to report its earnings and profits semiannually, rather than quarterly.
Stellantis (NYSE: STLA), the global auto giant formed from the merger of Fiat Chrysler Automobiles (FCA) with French automaker PSA, said that it will no longer buy European environmental credits from electric-car maker Tesla (NASDAQ: TSLA). The move is expected to save Stellantis about 300 million euros ($360 million). About two-thirds of that would have gone to Tesla, Stellantis's Chief Financial Officer Richard Palmer said.
(Bloomberg) -- Tesla Inc. is about to lose one source of the regulatory-credit revenue that’s been crucial to its almost two-year run of consecutive quarterly profits.Stellantis NV, the automaker formed through the merger of PSA Group and Fiat Chrysler, announced Wednesday it is exiting a European emissions-credit agreement with Tesla. Complying with standards on its own will save the company about 300 million euros ($360 million), roughly two-thirds of which would have gone to Tesla, Chief Financial Officer Richard Palmer said.“Stellantis will be in a position to achieve CO2 targets in Europe for 2021 without open passenger-car pooling arrangements with other automakers,” the company said in an emailed statement. A Tesla representative didn’t immediately respond to a request for comment.Tesla has steadily increased sales of regulatory credits to carmakers that need help complying with emissions standards that are getting stricter in Europe, China and the U.S. The revenue goes straight to the electric-car maker’s bottom line and has routinely exceeded net income on a generally accepted accounting principles, or GAAP, basis. Without the credit sales in recent quarters, the company would have recorded losses.Stellantis Chief Executive Officer Carlos Tavares first announced the plan to end its agreement with Tesla in an interview with the French weekly Le Point. The company will consider partnering in the future with Tesla, if necessary, in other regions in order to achieve the lowest cost of compliance.Fiat Chrysler first announced credit-purchasing agreements with Tesla in May 2019, saying then that it would cost the company 1.8 billion euros over three years. The company is now paired up with PSA’s lineup of plug-in hybrid and fully electric models, which will continue to expand this year. It has scheduled an EV-related investor day for July 8. Stellantis shares rose as much as 5.9% in New York trading, while Tesla advanced as much as 1.7%.(Updates with savings in the second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.