Stellantis aims to make billions from connected cars by 2030

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Automaker Stellantis rolled out its software strategy on Tuesday, including a target of 20 billion euros ($ 22.5 billion) in annual revenue for related products and subscriptions in 2030, as it targets rival Tesla.

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CEO Carlos Tavares said the world’s fourth-largest automaker is expected to have 34 million connected vehicles on the road by then, up from 12 million currently. The company currently generates 400 million euros per year from connected car services.

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Stellantis said the software push would deliver on-demand services to create a customizable experience for drivers who can do everything from providing their favorite entertainment; to close their garage door if they forget to do so.

As part of its software push, Stellantis said that starting in 2024, it will deploy three new technology platforms powered by artificial intelligence (AI).

“This is something that will place Stellantis among the leaders, if not the leader, in software and electronics,” said Yves Bonnefont, director of software, adding that these platforms would match those of the competition.

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Bonnefont said the group will move its vehicles from their current dedicated electronic architectures to an open software platform, leveraging partnerships. “We don’t want to do everything ourselves,” he said.

Stellantis has forged strategic partnerships with companies such as BMW, iPhone maker Foxconn and Alphabet Inc’s Waymo, to enable it to “continue to drive innovation, efficiency and shared know-how,” said Stellantis. he declared.

Bonnefont said Stellantis is expected to finalize a joint venture with Foxconn by the end of 2021 to deliver on-board and connected technologies to the entire auto industry.

Stellantis also announced on Tuesday a preliminary agreement on a separate partnership with Foxconn to design semiconductors specially designed to support the automaker and other customers.