Stellantis has reached its five-year anniversary since its formation. The automotive conglomerate came into existence in January 2021 following the merger of Fiat Chrysler Automobiles and PSA Group, a deal overseen by Carlos Tavares and John Elkann. Today, Elkann remains the chairman of the board, while Tavares stepped away from operational management over a year ago. His successor, Antonio Filosa, is now developing a new industrial plan expected later in 2026.

In its early post-merger years, the company appeared financially robust. However, over the last two years, strategic pressures have mounted and performance has softened. Production in 2021 reached approximately 6.1 million vehicles amid a global semiconductor shortage. Output then grew to around 6.3 million in 2022 and 6.4 million in 2023, driven primarily by North American operations. By 2024, production had declined to below 5.8 million vehicles. This drop highlights challenges with product offerings and the competitiveness of its electric vehicles, particularly in the face of growing competition from Asian manufacturers.

Stellantis is now entering what it calls "Phase 2," shifting its focus squarely onto product and value. This move will form part of a renewed strategic direction, one that accounts for regional market differences and its multi-energy approach.