Stellantis CEO Carlos Tavares suggests potential plant closures due to increasing Chinese competition.
Stellantis CEO Carlos Tavares has indicated potential plant closures in response to increasing competition from Chinese automakers, which could secure a 10% market share in Europe. The company has faced significant challenges, including a 45% stock drop and declining sales of key models. Amid leadership changes and a revised profit outlook, Tavares is focused on addressing operational errors and expanding electric vehicle offerings by 2030.
October 13, 2024
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