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Stellantis launches Free2move Charge to ease EV 'charging anxiety'

Stellantis NV (NYSE:STLA, EPA:STLA), owners of brands such as Jeep, Ram, Peugeot and Fiat, announced on Tuesday that it is launching a new business unit that will manage a service called Free2move Charge, which will deal in everything from home charging wall boxes to public electric vehicle (EV) charging network aggregation.

Stellantis stated the new service would address “electric vehicle customer needs at home, in their business and on-the-go.”

Free2move Charge will provide customers with access to more than 500,000 charging points in Europe, as well as in North America “through partners,” by the end of this year, the company noted.

It is expected to help relieve the 'charging anxiety' some EVs drivers face in regards to having adequate charging options for longer driving distances.

Reuters reported that Stellantis, the world's third largest carmaker by sales, reiterated that it was still evaluating Tesla’s charging standard after rivals including Ford and General Motors signed deals to adopt it in North America.

The media outlet also wrote that Stellantis has plans for 100% of its European passenger car sales and 50% of its US passenger car and light-duty truck sales to be battery EVs by 2030.

Stellantis added that more details on Free2move Charge will be provided over the course of 2023, including for the business unit's financial targets.

Contact Sean at sean@proactiveinvestors.com

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