Carlos too Tavares comments on the EU Commission’s decision to increase provisional duties on Chinese electric cars. And he does it almost with a provocation: “If I can’t compete with Chinese brands, then I will put a Chinese brand ahead of them, which is Leapmotor.” A strategy that the CEO of Stellantis, speaking on the occasion of the group’s first Investor Day, defined winning given that “We don’t want to be on the defensive, but we have to ride the wave of the Chinese offensive.”
Tavares on duties on Chinese electric cars
Returning to the topic of duties, the Portuguese manager explained: “With duties we are trying to correct a competitiveness gap, but in reality an imbalance is created and it is naive to think that with tariffs we will be more protected.” In short, Tavares seems to have a critical position towards this measure, especially in light of the electric transition phase that the mobility sector is experiencing: “We ask Europe stability and clarity of the legislation, because if the rules continue to change, especially regarding new technologies, investment times will be lengthened.”
Tavares on the Termoli Gigafactory
The Stellantis CEO then returns to address the Termoli Gigafactory issue, after the halt to the negotiations that the unions blamed on ACC, the joint venture of which the Italian-French group is part. “The decision is not Stellantis’s – clarified the Portuguese manager – The project is not cancelled, but batteries cannot be produced in countries where electric vehicles are not sold. Nobody wants to lose money and so It’s normal to take a break also to see what direction the newly elected EU Parliament will take”.
Financial targets confirmed for Stellantis
As reported by today’s edition of Repubblica, in addition to having confirmed the financial objectives for 2024, Stellantis has decided to reward shareholders’ capital with at least 7.7 billion in dividends and share buybacks this year. “We are solid, we will overcome the difficult times and we will win in the long term”concluded Tavares.
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