Stellantis plans layoffs at US factories due to increased electric car transition costs and union contract.

Jeep maker Stellantis plans to lay off unspecified workers at US factories due to increased capital spending for transitioning from gasoline vehicles to electric cars, declining US sales, and higher costs from a new contract agreement with the United Auto Workers union. CEO Carlos Tavares emphasizes the need to cut global costs to keep electric vehicles affordable for middle-class consumers, currently 40% more expensive than gasoline-powered vehicles.