Stellantis To Supply 250K Vehicles To Rental Firm SIXT

Stellantis NV STLA and mobility service provider SIXT have signed a multi-billion euro agreement under which SIXT could buy up to 250,000 vehicles for its rental fleet.

SIXT will deploy the fleet in its corporate countries across Europe and North America over the next three years.

SIXT's customers will benefit from a huge choice of Stellantis' vehicle brands, including Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Opel, Peugeot, Ram, Vauxhall, and Maserati.

Stellantis will deliver a variety of classes from city cars to SUVs to vans and trucks and a full range of propulsion types to SIXT.

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Stellantis and SIXT will also explore potential cooperation opportunities in regions including Mobilisights, Stellantis' data as a service (DaaS) business, to provide and develop data packages.

"This partnership with SIXT enables current and potential Stellantis brand customers to immerse themselves in our newest offerings with the most advanced propulsion, vehicle connectivity and thoughtful comfort," said Stellantis CEO Carlos Tavares.

By acquiring Stellantis vehicles with propulsion, including battery electric vehicles (BEV), the agreement also aligns with SIXT's goal to decrease the CO2 footprint of its rental fleet significantly.

The first significant delivery volumes of the vehicles will take place in the first quarter of 2024.

Price Action: STLA shares are trading lower by 3.18% at $21.59 on the last check Tuesday.

Also Read: Stellantis Braces For Workforce Shake-Up: 539 Firings In America And 2,250 Temporary Layoffs In Italy

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