Stellantis Names Leadership Team Focusing On Hydrogen Fuel Cell

Stellantis NV (NYSE: STLA) seems to be bolstering its hydrogen fuel cell division. The automaker announced today the appointment of select executive leadership team members specifically for the development of the emerging division.

Former Naval Group and Renault Group executive Jean-Michel Billig is joining the firm as Chief Technology Officer specifically for hydrogen fuel cell vehicle development. The appointment will be effective starting June 27, 2022.

On the other hand, Opel Brand CEO Uwe Hochgeschurtz takes on the additional responsibility of piloting the commercialization of hydrogen fuel cell vehicles worldwide. The company’s “commercial offensive” is slated to initially focus on the European market.

“Having Jean-Michel and Uwe in these complementary roles illustrates our commitment to enhancing our leadership in hydrogen fuel cell technology and reaching the ambitious sustainability goals of our Dare Forward 2030 strategic plan,” said CEO Carlos Tavares.

The firm started deliveries of its hydrogen fuel cell zero-emission solution towards the latter part of last year. The technology combines hydrogen fuel cells and electric battery system in a fuel cell electric vehicle.

In March 2022, the company announced a joint venture with LG Energy Solution, aiming to invest around $5 billion to launch Ontario‚Äôs “first large-scale” electric vehicle battery manufacturing plant. 

Stellantis last traded at US$14.39 on the NYSE.

Information for this briefing was found via the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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