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Automaker Stellantis plans to generate $22.5 billion in new software revenue by 2030 - CNBC
Dec 07, 2021 42 secs

DETROIT – Automaker Stellantis plans to generate about $22.5 billion (20 billion euros) in incremental annual revenue from software services and subscriptions by 2030, the company announced Tuesday.

Stellantis, which is the world's fourth-largest automaker, is the latest company to target a substantial increase in services revenue to better diversify its market opportunities and earnings.

Stellantis said it expected "a majority" of its new vehicles to be capable of OTA updates by 2024.

Vehicles capable of over-the-air updates are viewed as key for automakers to generate recurring revenue through new technologies and subscriptions for everything from video entertainment to driver-assist features.

Stellantis showed examples of software-enabled technologies Tuesday on Jeep models with new GPS maps for off-roading; concierge services for drivers; better vehicle service scheduling; and upgradeable in-vehicle technologies for video and gaming entertainment as well as driver-assist features, among others.

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