Pro forma adjusted operating income was €8.6 billion, with an 11.4% margin, including record margins in North America of 16.1%.

The company is continuing its electrification strategy with the launch of 11 battery electric vehicles (BEV) and 10 plug-in hybrid electric vehicles over the next two years, along with hydrogen fuel cell medium vans by the end of 2021.

The company also announced the conversion of its Ellesmere Port plant in the UK into its first solely BEV factory from late 2022.