Reported about 1 year ago
Stellantis is making changes to its electric vehicle production strategy in response to new EU tariffs, deciding to relocate production out of China to mitigate costs starting July 6. Shares of Stellantis (STLA) dropped nearly 5% as a result. Investors are monitoring the impact on costs and margins, considering how the move will affect the company's financials and if it can counter the increased costs. The CEO acknowledged challenges faced, emphasizing the need to address cost issues and mistakes made, with Stellantis experiencing a mixed performance both in Milan and stateside markets.
Source: YAHOO