By Kim Richters

Stellantis NV is aiming to reach net revenue of 300 billion euros ($336.58 billion) by the end of the decade.

The revenue target is part of a strategy plan the auto maker released Tuesday. In 2021, the company's revenue was EUR149.42 billion.

It is also targeting to maintain double-digit adjusted operating profit margins throughout the period, reaching more than 10% in 2024 and more than 12% in 2030. This compares with a 11.8% margin in the past year.

The company said industrial free cashflow should reach more than EUR20 billion in 2030.

Targets are for continuing operations, Stellantis said in its presentation of the strategy.

As for electrification, the car maker said it is targeting 100% of sales in Europe as well as 50% of sales in the U.S. to be battery-electric vehicles by 2030 and that it will increase planned battery capacity by 140 gigawatt hours to around 400 gigawatt hours.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

March 01, 2022 09:53 ET (14:53 GMT)

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