Stellantis shares are trading higher after Biden announced tariffs on Chinese EVs. It was also reported the company and Leapmotor will begin sales of budget EVs in nine European countries.
Portfolio Pulse from Benzinga Newsdesk
Stellantis shares are trading higher following President Biden's announcement of tariffs on Chinese electric vehicles (EVs). Additionally, Stellantis and Leapmotor are set to begin sales of budget EVs in nine European countries.
May 14, 2024 | 10:47 am
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POSITIVE IMPACT
Stellantis shares are experiencing an uptick due to the new tariffs on Chinese EVs announced by President Biden, which could reduce competition in the U.S. market. The partnership with Leapmotor to sell budget EVs in Europe may also positively influence investor sentiment by expanding Stellantis' market presence.
The positive movement in Stellantis' stock price is directly linked to the announcement of tariffs on Chinese EVs, which could lessen competition in the U.S. and benefit Stellantis. Furthermore, the expansion into the European market through the partnership with Leapmotor to sell budget EVs is likely to be viewed positively by investors, as it represents growth and adaptation to market demands.
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