Stellantis 2022 results

It's strange how the word 'legacy' has come to have pejorative connotations when applied to "legacy automakers". In my experience the word tends to have more positive associations: most people are grateful if legacies come their way and hope to leave helpful legacies to their nearest and dearest when they pass on.

It's not stretching the analogy too far to say this is what the legacy business of internal combustion engine (ICE) production is doing for many of the traditional carmakers—providing the resources needed to fund their transition to an all-electric future.

Stellantis provides a good example,;announcing its full-year results the company has become one of (an expected) four carmakers to report operating profit in excess of US$20bn for 2022 which, in the case of Stellantis, translated into industrial free cash flow of nearly $12bn.