Stellantis plans to accelerate its turnover from software-enabled services and subscriptions to €4bn (£3.4bn) in 2026 and €20bn (£17bn) in 2030 as its transitions to a new role as a “sustainable mobility tech company”.

Seven months after the OEM behind Abarth, Alfa Romeo, Citroen, Fiat, DS, Peugeot and Vauxhall told its franchised car retailers they would be issued with two-year termination notices as part of a reorganisation of its distribution networks ahead of the introduction of new EU Block Exemption rules further detail has emerged of its strategic direction.

It plans to leverage profits from the creation of 34 million monetizable connected cars by 2030 with the offer of features on demand and other services, including telematics-based vehicle insurance.

Partnerships have been struck with microchips producer Foxconn and autonomous car and telematics specialist Waymo to help drive the shift.

Announcing the plans today (December 7), Stellantis chief executive, Carlos Tavares said: “Our electrification and software strategies will support the shift to become a sustainable mobility tech company to lead the pack, leveraging the associated business growth with over-the-air features and services, and delivering the best experience to our customers.