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Stellantis sees software revenue boom by 2030

Stellantis will accelerate its investment in software products as it tries to become an industry leader in new car technology.

That's according to the carmaker Tuesday (December 7).

The Italian-American firm said it plans to make over $22 billion in yearly revenue from software products and subscriptions by 2030.

That goal comes as global car companies drive towards electrification and autonomous vehicles.

Stellantis expects to have 34 million connected vehicles on the streets by 2030 - up from 12 million now.

German rival Volkswagen foresees more than $1.3 trillion of software-enabled sales for the whole industry by 2030 - a quarter of the global mobility market.

U.S. firm Tesla is widely seen as having led the way in software advancement, which has left traditional carmakers like Stellantis trying to catch up.

Ford this year hired the former head of Apple's car project Doug Field.

While France's Renault has teamed up with Google to design infotainment systems.

Stellantis - which is currently the world's fourth largest automaker - said from 2024 it would deploy three new tech platforms powered by artificial intelligence.

It believes the move could make it a leader in software and electronics.

Stellantis is already investing big to make sure it keeps up with rivals.

By 2025 it plans to invest more than $33 billion in its electrification strategy.

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