The Chairperson of Stellantis, John Elkann, made it clear through his remarks that Europe's automotive sector should abstain from military production even during the ongoing discussions about defense spending elevation throughout the European nations. He verified that the appointment process for a new CEO will start within the initial half of 2022.

Advertisment

Elkann responded to the recent statements made by the Italian Minister of Industry through his statement which opposes combining automotive with defense and aerospace sectors. During his speech to Italian parliament Elkann explained how America and China demonstrate both prosperous defense and automotive sectors without compelling businesses to select between them.

Elkann said through his multinational Fiat Jeep and Peugeot companies that automobiles will not develop into a defense industry sector of the future.

Also Read | Stellantis CEO search focuses on brand portfolio strategy

Advertisment

Since taking over as the head of Stellantis following Carlos Tavares' exit Elkann has informed legislators about the CEO selection advancement matching original expectations. He informed that the replacement CEO will be announced during the initial six months of the year.

As part of its revitalization plan to the Italian government, Stellantis plans to invest 2 billion euros (USD 2.2 billion) throughout the current year. In 2026, production in Italy is projected to expand due to ten new product updates despite 2024 being predicted as a difficult year. Output forecasts were subject to markers' decisions together with economic conditions in the market.

Their strategic plan successfully restored positive diplomatic connections with the Italian authorities after their disputes lasted throughout several months. However, some political friction remains. Stellantis encountered criticism from League party members because they blamed the firm for directing investments outside Italy while placing strong emphasis on electric vehicles. The organization demanded that Stellantis present an apology to their Italian workforce.

Advertisment