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Stellantis Seeks Energy Production At European Plants: Reuters

·1 min read
  • Stellantis NV(NYSE: STLA) Chief Executive Officer Carlos Tavares said the automaker is planning to invest in energy production for its European facilities, Reuters reported.

  • The move is seen as the response to the threat of the cut-off of natural gas supplies from Russia.

  • "We are now preparing a very strong energy (use) reduction plan," the report quoted Tavares.

  • "We are going to make significant investments to produce our own energy onsite."

  • Also ReadChrysler To End Iconic 300 Model Production - Commemorates 70-Year Legacy

  • He added that the company's plant sites have space for additional solar power arrays.

  • Tavares said the gas supply disruption was an "additional element of chaos," on top of the supply chain and pandemic disruptions that the company has been forced to cope with for the past two years.

  • Price Action: STLA shares are trading higher by 1.30% at $13.59 on the last check Wednesday.

  • Photo Via Company

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