Stellantis CEO Concerned About Losing U.S. EV Market Share; Company Launching More EVs While Navigating Labor Disputes
• Stellantis CEO worries Chinese electric vehicle makers could take significant U.S. market share in 10-20 years if not prevented
• Stellantis to launch 18 new EVs globally this year, including 8 in North America, to make EV lineup 60% larger
• CEO suggests government incentives that subsidize EV purchases could boost sales by 20,000 units and resolve dispute with Italian government
• Stellantis reports 13% drop in 2022 second half profits to 7.7B euros due to North America strikes; full year profit still rises 11%
• Company forecasts "turbulent" 2023 with higher labor costs but tailwinds from lower materials and shipping costs