Stellantis announces investment in South America
Stellantis on Wednesday announced huge investment in South America.
The company, which owns the Jeep, Ram, Chrysler, Dodge and Fiat brands, said it will pump more than $6.1 billion (5.6 billion euros) into the region, which it dominates, between 2025 and 2030, to launch 40 new products and make other key investments. Stellantis’ former chief operating officer for South America took over global leadership of Jeep last year.
The automaker called it the “largest investment in the history of the Brazilian and South American automotive industry.”
Stellantis CEO Carlos Tavares said in a news release that the region would take a leading role in accelerating the decarbonization of mobility.
The investment will include development of biohybrid technologies. The release noted that the company’s Betim, Brazil, facility is its global center of expertise in that arena.
“This announcement solidifies our trust and commitment in the future of the South American automotive industry and is a response to the favorable business environment here,” Tavares said in the release.
Stellantis is developing what it’s calling a third engine strategy to accelerate revenue growth outside North America and Europe, targeting South America, the Middle East and Africa, China, India and the Asia Pacific segments.
The release touted the company’s sales dominance in Brazil, Argentina and Chile, the continent’s three main markets.
“Last year, Stellantis’ total sales in the region surpassed 878,000 vehicles, with a 23.5% market share. The company is the sales leader in Brazil with a 31.4% market share and maintains leadership in light commercial vehicle sales in South America, with a 28.6% market share. Fiat is the best-selling brand in Brazil and South America, and the Fiat Strada pickup is the best-selling vehicle in the country and the region,” the release
country in the world, since the Industrial Revolution that has been a strong country that didn’t have a strong industrial base. … And you and I have both seen in our lifetime countries that have lost their industrial base … and when that happens, it’s a downward spiral.”
What William Clay Ford Sr. told his son
Ford talks about his family, including his h children, and their roles at the company founded by his great grandfather on June 16, 1903. He touches on discussion with his father before working as CEO from October 2001 to September 2005. His daughter, Alexandra Ford English, arrived at Ford in 2017 and left in 2022 as global brand merchandising director. She now serves on the board of directors. His son, William Clay “Will” Ford III joined the company as manager of Ford Performance in 2023.
“All of my kids said to me, at various points, ‘Why didn’t you ever really talk to us about working at Ford?’ And I said the best advice my father ever gave me was when I was graduating from college. I remember we were playing pool in my parents’ basement, and my dad said, ‘What’s next?’ And I said, ‘Well, I think I might go work for Ford.’ And he looked at me and he said, ‘Well, don’t do it on my account or anybody else’s.’ He said if your heart isn’t in it and if you don’t love it, you’re not going to be doing the company or yourself any favors . ... I remember saying to my dad, ‘Well, how do I know unless I try it?’ And he said, ‘Well, you can try it. But honestly, you can’t fake it. And if you don’t love it, you won’t be good at it.’ ”
Lessons learned
Ford shares thoughts about lessons h learned from past CEOs while, at the same time, critiquing Farley, who assumed the helm in October 2020 as the grandson of a Ford factory worker. Farley has highlighted admiration for his wife and this time spent with their children.
“One thing that I think you (Jim) do so well that I’ve seen so many CEOs do badly is you’ve remained authentic. I think that somebody once told me about this building, which for our listeners who don’t know is, it’s a glass building. Somebody once said, the higher you get in this building, the windows start turning into mirrors. You start to believe your own greatness, your own press clippings. … You’re surrounded by people who tell you how wonderful you are and how great you are. … And so I think what you’ve done, which most people don’t do, is you’ve grounded yourself before this job and you know what’s important to you.”
The “Drive” podcast is available on Spotify, Apple and YouTube. Farley’s Top 3 most-listened-to episodes from the debut season (in order) featured football legend Tom Brady, actor Dax Shepard and late-show host Jimmy Kimmel.