News That Matters

Stellantis CEO Warns of More Auto Plant Closures

(Reuters) – Chrysler parent Stellantis NV Chief Executive Officer Carlos Tavares said on Thursday that more auto plant closures will happen if high prices for electric vehicles cause vehicle markets to shrink from pre-pandemic levels.

Automakers will risk losing pricing power as chip supplies recover, Tavares said at the CES technology trade show in Las Vegas.

(Reporting by Aishwarya Nair in Bengaluru and Joe White in Detroit; Editing by Rashmi Aich)

Copyright 2023 Thomson Reuters.

Source link