Cookie Consent by Free Privacy Policy website Stellantis signs binding agreements with European financing partners
aprile 01, 2022 - Stellantis

Stellantis signs binding agreements with European financing partners

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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 #bnpparibaspersonalfinance (“BNPP PF”), Crédit Agricole Consumer #finance (“CACF”) and #santanderconsumerfinance (“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 #carlostavares, #stellantis CEO. “Our strategy is to better leverage our financial services arms, both in #europe and #northamerica, 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.