Stellantis NV Announces Furlough Scheme and Revised Electric Vehicle Strategy
Stellantis NV, a multinational automotive manufacturing company, has agreed to a furlough scheme with unions at its Italian plant, Termoli, due to weak demand and US tariffs. The move affects over 2,000 workers, who will be placed on reduced hours for 12 months.
Key Details of the Furlough Scheme
- Affected workers: over 2,000
- Duration of reduced hours: 12 months
- Reason for furlough: weak demand and US tariffs
In addition to the furlough scheme, Stellantis’ subsidiary Opel has revised its electric vehicle strategy, citing low demand for electric cars. As a result, the company will continue to produce combustion engine models beyond 2028.
Impact on Stellantis’ Stock Price
- Recent decline in stock price reflects challenges faced by the company in the market
- Revised electric vehicle strategy and continued production of combustion engine models have impacted the company’s stock price
Stellantis’ stock has declined in recent days, reflecting the challenges it faces in the market. The company’s response to these challenges will be closely monitored by investors and industry analysts.