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Stellantis Signs Binding Agreements with European Financing Partners – Yahoo Finance

STELLANTIS N.V

Stellantis Signs Binding Agreements with
European Financing Partners

AMSTERDAM, April 1, 2022 – 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.

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About Stellantis

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the worlds leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and todays 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.

@Stellantis

Stellantis

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Stellantis

For more information, contact:

Valérie GILLOT: + 33 6 83 92 92 96 – valerie.gillot@stellantis.com

Valérie BENSOUSSAN: + 33 6 76 86 95 44 – valerie.bensoussan@stellantis.com

communications@stellantis.com
www.stellantis.com

FORWARD-LOOKING STATEMENTS

This communication contains forward-looking statements. In particular, statements regarding future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, future financial and operating results, the anticipated closing date for the proposed transaction and other anticipated aspects of our operations or operating results are forward-looking statements. These statements may include terms such as may, will, expect, could, should, intend, estimate, anticipate, believe, remain, on track, design, target, objective, goal, forecast, projection, outlook, prospects, plan, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.

Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the impact of the COVID-19 pandemic, the ability of Stellantis to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; Stellantis ability to expand certain of their brands globally; its ability to offer innovative, attractive products; its ability to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the intense level of competition in the automotive industry, which may increase due to consolidation; exposure to shortfalls in the funding of Stellantis defined benefit pension plans; the ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the establishment and operations of financial services companies; the ability to access funding to execute Stellantis business plans and improve its businesses, financial condition and results of operations; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in Stellantis vehicles; Stellantis ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with our relationships with employees, dealers and suppliers; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in Stellantis vehicles; developments in labor and industrial relations and developments in applicable labor laws; exchange rate fluctuations, interest rate changes, credit risk and other market risks; political and civil unrest; earthquakes or other disasters; and other risks and uncertainties.

Any forward-looking statements contained in this communication speak only as of the date of this document and Stellantis disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning Stellantis and its businesses, including factors that could materially affect Stellantis financial results, is included in Stellantis reports and filings with the U.S. Securities and Exchange Commission and AFM.

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