Stellantis looks to revenue-generating software for its cars

FILE PHOTO: A view shows the logo of Stellantis at the entrance of the company's factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol/File Photo

MILAN (Reuters) - Automaker Stellantis rolled out its software strategy on Tuesday including a 2030 target of 20 billion euros ($22.54 billion) in annual revenue from related products and subscriptions as it takes aim at rival Tesla.

CEO Carlos Tavares said the world's fourth largest carmaker expected to have 34 million connected vehicles on the road by then, up from 12 million now.