Stellantis plans to generate $22.5 billion in new software revenue by 2030

DETROIT – Automaker Stellantis plans to generate about $22.5 billion (20 billion euros) in incremental annual revenue from software services and subscriptions by 2030, the company announced Tuesday.

Driving the growth will be an increase in the automaker’s so-called connected vehicles — stocked with GPS, infotainment systems, driver assistance and other technologies — from 12 million today to 34 million by then, according to Stellantis.

Stellantis, which is the world’s fourth-largest automaker, is the latest company to target a substantial increase in services revenue to better diversify its market opportunities and earnings.

“Software will improve…