To do that, it'll have to triple last year's sales.
The constant worry for Tesla is that the large and well-established automakers will exploit their existing resources and financial power to overtake them in the race to electrification. Companies like Volkswagen are already putting a dent in Tesla sales worldwide, but American companies have been slow to get started. Stellantis, the company formed from the merger between Fiat Chrysler Automobiles and PSA Group, is now setting a big target.
According to John Elkann, Chairman and Chief Executive Officer of Exor, the main shareholder in Stellantis, the company has a target of selling 400,000 electrified vehicles in 2021, more than three times the amount sold in 2020.
In a letter to Exor shareholders, Elkann says that the target is reachable due to the launch of 11 additional models worldwide. Stellantis portfolio of brands currently in the US includes Jeep, Dodge, Chrysler, Maserati, Ram, and Alfa Romeo. The car brands currently only available elsewhere includes Citroen, Opel, Peugeot, Vauxhall, and Abarth. Dodge doesn't currently have any electrified vehicles but recently told the world that the muscle car's future is electric. Jeep already has the Wrangler 4xe Hybrid and recently showed an all-electric concept. Chrysler has the Pacifica Hybrid, but we haven't heard anything about the idea of an all-electric minivan for a long time.
Maserati and Alfa Romeo stand to benefit from electrification, but we've seen no solid plans yet. This suggests that Stellantis will be relying on its European-based brands to lead the charge for 2021 while the American brands and the more niche Italian brands look further ahead. Indeed, Stellantic plans to have all-electric, hybrid, or both versions of each of its vehicles in Europe by 2025. That is roughly the same timeline the Renault-Nissan and Volkswagen Group are preaching, with Volkswagen being more aggressive. As things stand, industry analysts are predicting it will be Volkswagen that overtakes Tesla first.