Stellantis lost 22.3 billion euros last year, and now it's spending nearly triple that to climb back out.
The Jeep, Ram, and Chrysler parent on Thursday laid out a 60 billion euro plan - about $70 billion - meant to drag the automaker back to positive cash flow by 2027.
The plan is the first big move from new CEO Antonio Filosa, who took the job less than a year ago and is calling it "FaSTLAne 2030." Chairman John Elkann told the room the plan is "ambitious, but realistic."
The math here is unusual, because Stellantis just took a 22 billion euro restructuring hit after pulling back from all-electric vehicles.
That leaves the company spending another 60 billion euros on what comes next, with about 36 billion of it heading into Stellantis's lineup of brands - Jeep, Ram, Chrysler, Dodge, Fiat, Peugeot, Citroen, Opel, Alfa Romeo, Maserati and more.
North America is getting 60% of that share, with the other 24 billion going toward platforms and new tech. By 2030, the company says it will grow revenue 23% to 190 billion euros, hit a 7% adjusted operating margin, and pull 6 billion euros a year in industrial free cash flow.
A new platform called "STLA One" launches in 2027, folding five different vehicle architectures into one with a 20% cost-efficiency target.
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Filosa is also walking back the EV-only push that nearly broke the company.
Of the more than 60 new vehicles and 50 refreshes in the pipeline, only 29 are battery electric, with the rest split between hybrids, plug-in hybrids, range-extenders, and gas engines.
"The interest of consumers around hybrids is growing, also pushed by the oil prices, and range-extended [vehicles] actually is a more customer-centric idea," Filosa told CNBC on Thursday.
The lineup also has some attention-grabbers - a Dodge Copperhead performance car that looks like a Viper successor, a midsize Ram Dakota pickup, a Jeep Scrambler SUV, and a new Citroen 2CV in Europe.
Stellantis says it will cut European production by more than 800,000 units without closing a single plant, and it's keeping all 14 brands alive by folding DS into Citroen and Lancia into Fiat to clean up the European mess.
The plan leans on new partnerships too, including a U.S. deal with Jaguar Land Rover and European/Chinese tie-ups with Leapmotor and Dongfeng - the same Chinese automakers eating into Stellantis's European sales.
Investors took the news in stride, with Stellantis shares down about 1% on the day.
Twenty-two billion in losses bought Filosa the job. Seventy billion will decide if he keeps it.
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