The abrupt resignation of Stellantis CEO Carlos Tavares coincides with the company's announcement to close the Luton factory, significantly impacting their stock and leadership.
Stellantis plans to invest £50 million in its Ellesmere Port plant for electric van production, while the closure of the Luton factory puts 1,100 jobs at risk.
The departure of Tavares during a critical phase for Stellantis raises concerns about the company's leadership stability as they navigate the transition to zero-emission vehicles.
With mounting pressure on UK car makers for sustainability, Stellantis has initiated consultations with employees and unions regarding the future of their operations.
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