Automakers will find themselves in a "big trap" if the industry's transition toward electric vehicles slows down, Stellantis CEO Carlos Tavares said on Monday. Tavares was speaking to the Financial Times on the sidelines of the Paris Motor Show when he weighed in on the EV transition. "Making a transition for EVs longer is a big trap," Tavares said. This is because automakers will have to wrestle with higher costs as they have to invest in both electric and combustion-engine vehicles.
"When you make a longer transition, in fact, you don't replace the old world by the new one. You add up the new world to the old," he said. The European automaker owns brands like Chrysler, Fiat, Jeep, Maserati, and Peugeot. It's also invested in what it calls a "multi-energy platform."
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