AUBURN HILLS, Mich. - Chrysler has offered a glimpse into its vision for a fully electrified future with a new concept car that emphasizes sustainable design and advanced technology. The final teaser for this concept will be released on February 12, 2024, followed by an online reveal scheduled for February 13, 2024, at 5:01 a.m. ET on the company's website.
The concept is said to reflect Chrysler's "Harmony in Motion" philosophy, which focuses on a customer-centric approach to seamless connectivity.
Chrysler, a brand under the Stellantis (NYSE:STLA) umbrella, has a history of nearly 100 years in offering distinctive designs and technological advancements. The brand's evolution towards electrification includes the planned launch of its first battery-electric vehicle in 2025, with the goal of achieving an all-electric portfolio by 2028.
Currently, the Chrysler Pacifica Plug-in Hybrid stands as a testament to the brand's progress in electrification, being the first electrified vehicle in its segment. It boasts 82 MPGe, an all-electric range of 32 miles, and a total range of 520 miles. The Pacifica also leads its class with the most standard safety features and an advanced all-wheel-drive system, earning it over 175 honors and industry accolades in the past seven years.
This move is part of Stellantis's broader strategy, a global automaker and mobility provider that includes the Chrysler brand in its portfolio. Stellantis trades on the New York Stock Exchange under the ticker NYSE:STLA.
The announcement of the concept car is based on a press release statement from Stellantis.
InvestingPro Insights
As Chrysler, a key brand within Stellantis (NYSE:STLA), gears up to showcase its electrification prowess with an innovative concept car, the parent company's financial health and market performance offer a reassuring backdrop for such advancements. Stellantis, with its forward-looking strategy, is not only making headlines for its technological milestones but also for its robust financial standing, as evidenced by the latest data from InvestingPro.
Stellantis boasts a notably strong market capitalization of 72.89 billion USD, reflecting investor confidence in its long-term strategy and operational efficiency. The company's commitment to value is further highlighted by its attractive price-to-earnings (P/E) ratio, which stands at an adjusted 3.3 for the last twelve months as of Q2 2023. This figure suggests that the stock is trading at a low earnings multiple, potentially offering an appealing entry point for value-oriented investors.
Moreover, the company exhibits a healthy dividend yield of 6.0%, a testament to its ability to generate ample cash flows and return a significant portion to its shareholders. This aligns with one of the InvestingPro Tips, which emphasizes Stellantis's strong free cash flow yield and its practice of sharing profits with investors through dividends.
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