FILE - Stellantis CEO Carlos Tavares speaks during a news conference following a meeting with unions, March 31, 2022, in Turin, Italy. Tevares will retire in early 2026 and Chief Financial Officer Natalie Knight is stepping down as the world's fourth biggest automaker contends with ongoing sales difficulties in North America. .
In the European Union, it is fighting cuts in government electric vehicle subsidies and Chinese competitors as it tries to sell more EVs to reach a goal of cutting greenhouse gas emissions 55% by 2030. The EU has planned tariffs on imported Chinese EVs. The company also has labor problems. In Italy, a union is calling for a one-day strike on Friday to protest production cuts. The United Auto Workers in the U.S. is threatening strikes at several plants, alleging that Stellantis
“It is gross mismanagement by top executives that is killing this company," Fain said in a statement. The coronavirus pandemic and global computer chip shortage saved the company from a reckoning over the issue, Drury said, because many buyers spent big on large, expensive vehicles when they couldn't travel or dine out.But now, as the chip shortage has eased, most people are looking for more affordable transportation, with still-high interest rates, Drury said. “You've got people who are looking at practicality and just want basic stuff,” he said.
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