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Stellantis and Foxconn have announced a joint venture named Mobile Drive to develop advanced in-car technologies and connected services. This 50/50 venture aims to accelerate the rollout of innovative user experiences by combining Stellantis' vehicle design expertise with Foxconn's software and hardware capabilities. Mobile Drive will competitively bid for contracts from various automakers, focusing on infotainment, telematics, and cloud-based services, including AI applications and 5G communication.
Stellantis and Foxconn announced a strategic partnership on May 18, 2021, during a press conference at 5:45 a.m. EDT. The event featured key executives from both companies, including CEO Carlos Tavares and Foxconn Chairman Young Liu. This collaboration aims to enhance automotive digitalization and address emerging market demands. Investors are encouraged to join the live audio webcast via the provided link, with a password 'MOBILEDRIVE' available 30 minutes before the event. Further details and a recorded replay will be accessible on their respective corporate websites following the conference.
Stellantis N.V. reported strong Q1 2021 net revenues, achieving growth across all regions. The company's shipments and revenues demonstrated resilience amidst global market challenges. This growth signals a positive trend for Stellantis as it adapts to evolving consumer demands and operational hurdles. The results highlight Stellantis's ability to maintain momentum in a competitive landscape while reinforcing its commitment to delivering value to shareholders.
Stellantis N.V. announced that it will release its First Quarter 2021 Shipments and Revenues on May 5, 2021. The live conference call will take place at 2:00 p.m. CEST / 8:00 a.m. EDT. The press release and presentation materials will be available on Stellantis' corporate website before the call. Stellantis aims to provide sustainable mobility solutions, leveraging a broad brand portfolio to create value for stakeholders and communities.
Stellantis N.V. held its 2021 Annual General Meeting on April 15, where shareholders approved all proposed resolutions, including a significant cash distribution of EUR 1 billion. This distribution translates to EUR 0.32 per common share, payable to shareholders in U.S. dollars at the current exchange rate. Key dates include an ex-date of April 19, a record date of April 20, and a payment date of April 28, 2021. The distribution is funded from a capital repayment reserve established from a previous nominal value reduction of shares related to a prior distribution.
FCA US LLC reported a 5% increase in first-quarter U.S. total sales, reaching 469,651 vehicles compared to 446,768 in 2020. Retail sales surged 25%, with notable performances from the Jeep brand, including Wrangler sales up 25% to 49,646 vehicles. Ram brand achieved its best-ever monthly and quarterly retail sales, rising 28%. Chrysler and Alfa Romeo brands also saw increases of 32% and 25% respectively. However, Dodge sales fell by 28%, driven by significant declines in models like the Journey and Caravan.
Stellantis N.V. announced the unconditional distribution of up to 54,297,006 ordinary shares of Faurecia S.E. and up to €308 million in cash to common shareholders. The ex-date is March 15, 2021, with the record date set for March 16, 2021. Shareholders will receive 0.017029 ordinary shares of Faurecia and €0.096677 per share of Stellantis owned. Payment for the cash distribution is scheduled for March 22, 2021. Shareholders must provide details for delivery to receive Faurecia shares, and failure to do so may result in shares being sold in the market.
Stellantis announced that shareholders approved the conditional distribution of Faurecia shares and cash totaling up to €308 million. A total of up to 54,297,006 ordinary shares of Faurecia will be distributed to Stellantis shareholders via a capital reduction. The payment is contingent upon a future announcement confirming compliance with Dutch law formalities. The Distribution is part of the proceeds received by Peugeot S.A. from a previous sale of Faurecia shares.
Stellantis has announced a conditional distribution of shares from Faurecia S.E. to its common shareholders. Up to 54,297,006 ordinary shares and €308 million in cash are to be distributed, pending approval from the Extraordinary General Meeting on March 8, 2021. Shareholders on record as of March 16, 2021 will receive 0.017029 shares of Faurecia and €0.096677 per Stellantis share. The cash is expected around March 22, 2021, with shares delivered by April 1, 2021, for those in DTC accounts.
Stellantis N.V. has released the agenda for its 2021 Annual General Meeting (AGM), scheduled for April 15, 2021. The meeting will take place virtually and will include audited financial statements for Fiat Chrysler Automobiles for the fiscal year ending December 31, 2020. Shareholders can download meeting materials from the investor relations website. This AGM aims to enhance stakeholder engagement and offers detailed instructions for participation.
