Alfa Romeo will be given 10 years of long-term investment and backing to succeed by Stellantis boss Carlos Tavares.
Alfa is one of 14 brands in Stellantis, which was formed earlier this year after the merger between FCA and PSA. Former Peugeot boss Jean-Philippe Imparato has moved across to lead Alfa and Tavares said of the Italian firm: “We will do what needs to be done to be highly profitable with the right technology.”
Speaking at the Financial Times' Future of the Car Summit, Tavares said: “In the past, lots of other car companies were willing to buy Alfa. In the eyes of those buyers, it has a great value. They are right. It has a great value.”
Alfa’s 10-year plan is still to be decided but Tavares said it will inevitably involve electrification but also a continued focus on driving dynamics.
“It will move to the electrification world,” said Tavares, “but doing that in a dynamic way, with a passionate, successful CEO from Peugeot. Imparato is an Italian citizen and is driving the brand with passion and vision for what needs to be done".
On what Alfa needs to improve, Tavares said: “We need to improve the way we talk to potential customers. There is a disconnect with products, history and who we’re talking to. We need to fix the distribution and understand to whom we’re talking and which brand promise we’re talking to them about. It will take some time to get it right.”
“My clear management stance is that we give a chance to each of our brands, under the leadership of a strong CEO, to define their vision, build a roadmap and make sure they use the valuable assets of Stellantis to make their business case fly,” said Tavares.
“We’re giving each a chance, giving each a time window of 10 years and giving funding for 10 years to do a core model strategy. The CEOs need to be clear in brand promise, customers, targets and brand communications.
“If they succeed, great. Each brand is given the chance to do something different and appeal to customers.”