Stellantis Secures Multi-Billion Euro Deal with SIXT for 250k Vehicle Sale

Summary

  • Franco-American automaker, Stellantis (NYSE:), has confirmed a multi-billion euro deal with Europe’s rental company, SIXT SE.
  • Stellantis commits to providing up to 250,000 vehicles across Europe and North America to SIXT over a three-year span.
  • Starting in Q1 2024, Stellantis will provide a diverse range of vehicles from city cars, SUVs, to trucks.
  • Part of the deal involves Stellantis supplying electric vehicles to the German mobility service provider.
  • Both parties consider exploring partnerships in other sectors, emphasizing Stellantis’ DaaS business.

Stellantis to Provide Vehicles Across Two Continents

Stellantis, a Franco-American automaker and parent company of Fiat Chrysler (NYSE:), unveiled a multi-billion euro agreement with European car rental giant SIXT SE on Tuesday.

Under this agreement, Stellantis will provide up to a staggering 250,000 vehicles, expanding across North America and Europe over three years.

Extensive Range of Vehicles and Electric Supply

From 2024 onwards, starting in the first quarter, Stellantis is set to deliver an array of vehicles, ranging from urban cars to SUVs and trucks, throughout the year.

Additionally, the contract includes Stellantis providing electric vehicles to the German mobility solution provider, with exact specifics yet to be disclosed.

Exploration of Collaboration Opportunities

The collaboration is looking promising with possibilities of extending. Both companies are exploring potential cooperation opportunities in other regions, with a keen interest in the DaaS (Devices as a Service) field of Stellantis.

The financial market reacted with a slight dip as STLA shares are trading 3.05% down at mid-day Tuesday.

In terms of its impact on forex or trading, this deal could potentially heighten interest in Stellantis and SIXT SE shares, considering the extensive amount of vehicles involved and the commitment to supplying electric vehicle technology.

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