Stellantis CEO calls EU's revised ICE plan unclear for long-term investment [Yahoo! Finance]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: Yahoo! Finance
industry, making it harder for the group to justify further investment in Europe, Financial Times reported. Speaking to the news outlet, Filosa said: “This package does not do the job. There are none of the urgent measures needed to return the European automotive sector to growth.” Filosa had previously indicated that Stellantis could increase its spending in Europe if the 2035 phase-out plan for petrol engines were eased. After the European Commission confirmed it would withdraw a requirement for carmakers to cut tailpipe emissions to zero by 2035, he said conditions for doing so had not been met. Filosa said: “Without growth, it becomes very difficult to think about investing more. “Without additional investments, it is difficult to build the resilient supply chain that is vital for European jobs, European prosperity and European security.” Under the revised approach, auto makers will be permitted to keep emitting up to 10% of their 2021 levels and continue to sell some
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