Stellantis Threatens To Exit UK Over 'Unsustainable' EV Sales Targets: 'If This Market Becomes Hostile For Us...'
Portfolio Pulse from Rounak Jain
Stellantis NV (NYSE:STLA) has warned the UK government that it may cease vehicle production in the country if the government does not relax its electric vehicle (EV) sales targets. Stellantis has invested £100 million to convert its Ellesmere Port factory into an electric-only plant but finds the current EV sales targets 'unsustainable.'
June 25, 2024 | 12:12 pm
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Stellantis NV has warned the UK government that it may cease vehicle production in the country if the government does not relax its EV sales targets. The company has invested £100 million in an electric-only plant but finds the current targets 'unsustainable.'
Stellantis' threat to exit the UK due to 'unsustainable' EV sales targets could negatively impact its stock price in the short term. The company's significant investment in the UK and the potential need to offer discounts to meet targets could lead to financial losses.
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