Stellantis is grappling with a national metal workers strike in Italy as it faces pressure from the government regarding production plans. CEO Carlos Tavares has warned of potential plant closures and job cuts due to rising costs and competition from Chinese automakers. The company anticipates a significant financial loss this year.
Stellantis, formed from the merger of Fiat-Chrysler and PSA Peugeot, has seen a drastic reduction in Italian production over the past 17 years. The company is under scrutiny for its future plans amid rising competition and regulatory pressures.
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Stellantis is the Dutch-based multinational automotive manufacturing corporation resulting of the merger of French automaker Groupe PSA and Italian-American automaker Fiat Chrysler Automobiles, following completion of a 50-50 merger agreement.
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Carlos Tavares is a Portuguese businessman who serves as the chief executive officer and Chairman of the Managing Board of Groupe PSA, France's largest car manufacturer. He was formerly the chief operating officer at Renault
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BYD Company Limited or BYD is a publicly listed Chinese multinational manufacturing conglomerate headquartered in Shenzhen, Guangdong, China.
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The European Union is a political and economic union of 27 member states that are located primarily in Europe. Its members have a combined area of 4,233,255.3 km² and an estimated total population of about 447 million.
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Germany, officially the Federal Republic of Germany, is a country in Central and Western Europe. Covering an area of 357,022 square kilometres, it lies between the Baltic and North seas to the north, and the Alps to the south.
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Oliver Zipse is a German manager who has been serving as Chairman of the Board of Management of BMW since 16 August 2019.
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The International Union, United Automobile, Aerospace, and Agricultural Implement Workers of America, better known as the United Auto Workers, is an American labor union that represents workers in the United States and Canada.
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Rome is the capital city and a special comune of Italy as well as the capital of the Lazio region. The city has been a major human settlement for over two millennia. With 2,860,009 residents in 1,285 km², it is also the country's most populated comune.
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Italy, officially the Italian Republic, is a sovereign country consisting of a peninsula delimited by the Alps and surrounded by several islands. Italy is located in south-central Europe, and is considered part of western Europe.