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Exor, Elkann: for future investments we focus on fintech, healthcare and mobility

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MILANO – Sustainable mobility for Stellantis and Ferrari cars, the Chinese boom in the luxury market and investments in companies that have the possibility of becoming future leaders in their respective sectors. These are the main ideas disseminated outside the President’s speech John Elkann during today’s meeting of Exor shareholders.

Elkann called the results obtained by “very encouraging” Stellantis during the first quarter of this 2021, saying that five months after the birth of the automotive group “the expectations we had placed in this merger have been confirmed by the facts”. “Stellantis’ journey continues with an important event: the Electification Day to be held in July will mark a fundamental moment in building its future, with a leading role in sustainable mobility,” he said.

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Per Ferrari, the other car manufacturer of which Exor is the main shareholder, Elkann recalled the announcement made a few weeks ago of the debut of the first fully electric model in 2025: “The future of Ferrari promises to be full of exciting challenges and extraordinary opportunities to grasp “, he said, without lifting the veil on who he will replace Louis Camilleri, the chief executive who resigned last December for personal reasons. “The new CEO will find in Maranello an organization that possesses the talent, ability and enthusiasm to build a great future”, assured Elkann.

The other corporate transition awaiting the Exor subsidiaries concerns Cnh Industrial, the results of which mark an improvement in the profitability of “all industrial segments”. Here the new CEO arrived in January, Scott Wine: “Scott is working to implement the strategic plan that was presented on the capital market day of 2019: the separation of the activities, which will lead to the creation of two world-class players in the on and off highway markets”, explained Elkann, referring to the Cnh split into the two businesses of trucks, on the one hand, and agricultural and earth-moving machinery, on the other.

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The last few months have also been those in which Exor (which also controls Gedi, the publisher of “La Repubblica”), joined two luxury design and clothing labels, the French-Chinese Shang Xia and the Parisian Christian Louboutin. The three factors on which the Agnelli family holding company is aiming with the double investment are “the ability to seize the opportunities linked to China, because in 2025 about 50% of the purchases of luxury goods will depend on Chinese consumers”, “digital transformation” which will allow brands to stay in close contact with their customers, especially the younger ones, who are increasingly inclined to buy directly from their devices “and finally” attention to sustainability “.

Exor also invests in companies defined as “early stage” and it is here that Elkann unveiled the news of the day, namely the entry into French startup Alan, a company that has created an app that offers insurance services in the healthcare sector: “The health sector, together with fintech and mobility, are the ones on which the team at Exor Seeds (as the investment business in companies is called high growth potential, ed) will most likely concentrate his work in the coming months, “said the president of Exor.

Founded in 2016 by Jean-Charles Samuelian-Werve and Charles Gorintin, Alan also provides insurance plans to businesses, offering a combination of financial products and access to health care and information. It recently launched a financing plan of 185 million euros, with a valuation of the company of 1.4 billion, thanks to which institutional investors such as Coatue and Dragoneer have entered the capital, in addition to Exor, alongside others who were already present.

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