Thomas Besson: Thank you very much. It’s Thomas Besson from Kepler Cheuvreux. I have a few questions as well, please. I’d like first to follow-up on the latest question. Could you please give us the units for BEVs and PHEVs [specifics] [ph] in Q3 and year-to-date? And remind us what are the key launches for you in Q4 and in 2024 and confirm that Leapmotor units that are going to be made by your joint venture and sold in Europe are going to be part of your total BEV units for CO2 calculation purposes? So that’s the first question. The second question, sorry, much more basic. You show a pricing of about 3.5% in the quarter. Could you help us understand like what was the share of emerging market ForEx composition within this?
And what was the share of pricing as such? And lastly, could you talk a bit about Maserati’s ramp-up? Volumes were softer in the quarter. A lot of products have been launched. When can we expect Maserati volumes to effectively start being a bit more sizable on a quarterly basis, please? Thank you.
Natalie Knight: Okay. Thanks for that multipronged question. I heard three, but I think there were four or five in there. Let me try. I will start and I may do this in a little bit of a mixed order. When we start with – the first one is you wanted to know about BEV, I think it was units in terms of – was it just Europe or globally with that?
Thomas Besson: It was BEV and PHEVs globally, please, for the quarter and year-to-date.
Natalie Knight: Okay. I think that’s something – let me get back to you on that in just a second. You also asked about what was going on in terms of the launches that are coming. And that one, very excited to say that if we look at Europe, we’ve got coming still this year, the Fiat 600e. And then as you go into ‘24, our Topolino is coming at Fiat in terms of January and February, we’ll have the 3008 CV that I was talking about earlier. The 5008 SUV is coming in August and the 408 will be coming in the fourth quarter. When we look at the US market, you didn’t ask, but I’ll just throw it in, because I’m very proud of the electric lineup we have coming there as well. There, you see the Ram ProMaster that we’ve been talking about quite a bit ramping up at the end of this year.
And then as we look into next year, you’ll see both the Wagoneer S SUV coming and the Charger Daytona EV, they’re both around mid-year and end of the year, you’ll see the Recon SUV and the Ram REV or the 1500 as we lovingly call it. When you talk about the numbers in terms of what do we see in the third quarter, on the PHEV side, it’s about 75,000 units. On the BEV side, it’s 93,000 units. And when we look at the numbers of that year-to-date it’s – we’re approaching a number that’s close to 200,000.
Thomas Besson: Thank you. And I was asking as well that –
Natalie Knight: Let me – I’ll keep going. On your other questions, I’m sorry, you had the next one was on pricing. I had written down, you were asking about the 3.5% and how much was emerging markets? And I think what we were trying to get at probably in a nice, polite way was, how are we doing in the mature markets? And what you would definitely see there is that, our net pricing numbers have moved versus a year ago very nicely. We’ve had the emerging markets, as you’re right, are definitely the pieces that have led the way, but we have also had positive pricing increases in both North America and in Europe. Europe, it’s pretty small, I’ll admit. But in terms of the US number, we’ve seen it at above – almost 2.5%.
So that’s something that is moving really positively for us. I think you also asked about the Maserati ramp-up in terms of how that piece is going? And that’s something where we’re currently in the process of really growing those new products in the market. We’ve had good reception, I would say, to our new products in line with our expectations for this year, with the exception of what you saw in China. I do want to come back real quick to the numbers in terms of year-to-date, because I’m sorry I misspoke on that. The PHEV number alone is 221,000, and the BEV number is 262,000. So, I hope I got through all of them. Did you want to ask any follow-ups to any of those questions?
Thomas Besson: Yeah. I just had one with LEVs. On Leapmotor, I just wanted you to confirm that the number of units that will be sold by your joint venture in 2025 will count as part of Stellantis’ BEVs?
Natalie Knight: Yes.
Thomas Besson: Yeah, perfect. Thank you very much –
Natalie Knight: They’ll be fully consolidated in our results. What you’ll see just in terms of the accounting more generally is that, everything that’s coming through the JV because it’s – we have the 51% will come in the AOI line, and we will, of course, take the minority piece out below. And in terms of the proceeds that we have from Leapmotor overall will come in, in that line as well below, but also contribute to our EPS.
Thomas Besson: Clear. Thank you very much.
Natalie Knight: Super.
Operator: Thank you. We’ll now take our next question from Dorothee Cresswell at BNP Paribas Exane. Your line is open. Please go ahead.
Dorothee Cresswell: [technical difficulty] question. I have two left, and they’re both in relation to the international joint venture that you’ve agreed with Leapmotor. So first, can I ask for how long the joint venture actually has complete exclusivity to distribute the Leapmotor products outside of China? And then I also wanted to understand how far you can use the Leapmotor 3.0 platform to make vehicles for the other Stellantis Group brands? Thank you.
Natalie Knight: Great. Thank you for that question, Dorothee. In terms of the exclusivity with the JV, we haven’t released that number, but it is long-term in nature. So quite long-term in nature is what I would say. In terms of the – utilizing their platforms, that is not part of the current arrangement. It’s really focused on how do we help Leapmotor in terms of their business in China and exporting the products outside of China. One of the things, you’re right, though, that we’re very excited about are what are the opportunities for other cooperation going forward. So you’ve mentioned one example in terms of what could you do in terms of a technology or product point of view, one could also think about are there things on the purchasing side.
