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Stellantis Closing Plant, Needs $ for EV Development

1081 Views 13 Replies 5 Participants Last post by  Steverino
Mary Barra started GM's belt tightening years ago to help fund it's massive EV push. She closed all overseas money losers (all where except China), and closed some excess capacity in the US as well.

It looks like Stellantis joins Ford in being slower to react and both are now trying to come up with development dollars. Ford recently shut down it's autonomous vehicle efforts to help free up the money for its EV efforst and Stellantis is now closing a Jeep Cherokee SUV plant in Illinois to raise EV money.

the most impactful challenge is the increasing cost related to the electrification of the automotive market."

Stellantis has said it will invest over 30 billion euros ($31.6 billion) through 2025 on electrifying its vehicle lineup. It also has said it expects EVs to make up 100% of its sales in Europe and 50% in the United States by 2030.
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Cloudnine, the government isn't picking winners or losers, it's picking a long-term sustainable policy, not just intro to economics 101 that treats pollution as an externality. They did not pick which manufacturers (other than USA based in the new IRA law), which battery makers companies win or lose. It's just accelerating suggestions from research papers in climate science consensus, including scientists outside of the U.S. Also governments, at least democratic ones, are made of people too, everyone from local officials to national officials are elected by citizens. Too bad you don't understand what the majority of informed voters want in this country today.
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