Stellantis, Elkann: “Encouraging results for the quarter, electric mobility at the center”

TURIN. Five months after the birth of Stellantis, “the expectations we had placed in this merger have been confirmed by the facts”. John Elkann, president of Exor, thus opened the holding’s meeting, called to approve the 2020 financial statements. «Under the leadership of Carlos Tavares, the company closed the first quarter with very encouraging results. Stellantis’ journey continues with an important event: the Electrification Day to be held in July will mark a fundamental moment in the construction of its future, with a leading role in sustainable mobility », he added. A central theme for Ferrari too. The Cavallino, Elkann said, “has just embarked on its electrification journey, and is preparing to unveil its first fully electric model in 2025. The future of Ferrari promises to be full of exciting challenges and extraordinary opportunities to be seized”. The new CEO, explained the president who took over the reins ad interim after Louis Camilleri’s departure, “will find in Maranello an organization that has the talent, ability and enthusiasm to build a great future”. Regarding Cnh Industrial, Elkann said that «in 2020 it achieved solid results, improving the profitability of all industrial segments. It therefore enters stronger in 2021, under the leadership of the new CEO Scott Wine whom I welcomed in January. 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, while strengthening the company’s operations “. In 2020, however, Exor also made important investments in the luxury sector, focusing on Shang Xia and Christian Louboutin. In accompanying these companies on a path of “growth, three factors will be of extreme importance: China, digital and sustainability,” said Elkann. Beijing is strategic because “about 50% of the purchases of luxury goods in 2025 will depend on Chinese consumers”. The road passes through “digital transformation, which will allow brands to stay in close contact with their customers, especially the youngest, increasingly inclined to buy directly from their devices”. Finally, there will be particular “attention to sustainability, an issue of growing importance for companies that want to be really big and able to take into consideration the needs of all stakeholders”. Elkann announced that it will be proposed to the board of directors to create a dedicated committee. “We have worked to carefully define our ESG (Environment, Social and Governance) approach, which is part of our responsibilities. One of the elements that distinguish large companies “.