"The company sent shockwaves through the automotive world on Friday when it revealed a 22 billion Euro hit as a result of a broad pullback on its once ambitious electric vehicle plans. The reset we have announced today is part of the decisive process we started in 2025, to once again make our customers and their preferences our guiding star, CEO Antonio Filosa said in a statement."
"The automaker also announced plans to sell its 49 per cent share of NextStar Energy, the joint venture it formed with South Korean battery maker LG Energy Solution to build the $5-billion battery facility in Windsor, Ont. But locally and beyond, the company isn't totally giving up on low-emissions technology. Stellantis says it's keeping hundreds of engineers it hired in Windsor in recent years, in large part to work on EV and battery technology research."
Stellantis announced a major reset of its electric vehicle strategy and revealed a €22 billion charge tied to a broad pullback from previous EV ambitions. The company will sell its 49 per cent stake in NextStar Energy, the joint venture with LG Energy Solution that planned a $5-billion battery plant in Windsor, Ontario. The automaker says it will retain hundreds of engineers in Windsor to continue EV and battery research at the Automotive Research and Development Centre. Earlier commitments included a $3.6-billion investment in Ontario and government funding to support EV production and a Battery Pack Testing Facility.
Read at www.cbc.ca
Unable to calculate read time
Collection
[
|
...
]