Stellantis NV CEO Antonio Filosa on Wednesday, Sept. 30 said the maker of Jeep and Ram sees an opportunity to cash in with its new compact pickup, extended-range powertrains and vehicles priced at under $40,000 in the U.S. market.

During an auto industry conference in Detroit, Filosa cited the segments as North American growth opportunities for the embattled automaker, which is attempting a sweeping turnaround after losing $26.3 billion (22.3 billion euro) last year.

Filosa on Wednesday reconfirmed expectations for a modest revenue increase this year.

"We are completely committed," Filosa said. "We are convinced that we will do that."

The plan is to make profit next year, Filosa said. By 2028, he said he aims for Stellantis to generate more than 3 billion euro of cash flow.

"It's not guidance," Filosa said, "but a commitment with investors."

Filosa said Stellantis' new mantra centers "freedom of choice" and listening to customers and dealers when deciding "exactly what we should change in our product portfolio."

In North America, its largest and most profitable region, the company is launching 11 new vehicles in the next five years.

Seven new vehicles will cost under $40,000, with two of those under $30,000. Filosa said the market represents a "huge opportunity" for Stellantis.

"We have just one car there (below $30,000) today, which is the Jeep Compass," Filosa said. "So we know that can get there."

After sinking billions of dollars into unprofitable electrified models, Filosa said a pivot to range-extended trucks and SUVs is driven more by "customer choice" rather than federal environmental regulations that have since been scrapped by the Trump administration.

Range-extended hybrid technology pairs a battery with an onboard gas generator — a 3.6-liter V-6 Pentastar engine — for on-the-go recharging. Range-extended vehicles can be charged by plugging in, but the onboard gas generator eliminates range anxiety on longer trips and while towing heavy loads.

Stellantis will first release this hybrid variation on its refreshed Jeep Grand Wagoneer SUV, followed by a Ram 1500 pickup.

Filosa said the powertrain is "a perfect powertrain for a niche of customers" who value torque, horsepower and towing capability.

“It’s a customer choice more than a compliance choice," Filosa said.

Finally, Filosa said Stellantis also has hopes for a small pickup called Rampage it plans to bring to North America in 2028. The automaker's truck brand, Ram, has already laid out a plan to bring back a new version of its midsize truck model, Dakota.

The market for such a vehicle is not huge currently, Filosa said, "but it is relevant."

Stellantis now only sells full-size pickups in the U.S., but it wants to compete with other truck makers in smaller segments. Ford Motor Co., notably, has found success selling its small pickup, the Maverick, the last few years, and Filosa said the company had that truck in mind as it launches the Rampage. The Rampage is already sold in South and Central America.

"We want to be relevant and strong where Toyota is very strong with the Tacoma, and Ford is very strong," he said.

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