Stellantis Evaluates Opportunities in India Amid Cost-Cutting Efforts (NYSE:STLA)

Bill Bogliano/Getty Images News

excellent (New York Stock Exchange: STLA) is eyeing India for manufacturing as the automaker seeks to distance itself from its pricey home market in Europe.

CEO Carlos Tavares told reporters that factories in Europe are not cost-effective, and this necessitates Examine other sites for manufacturing bases. He noted that India is among the countries being scrutinized for this shift.

So far, Europe is not able to make affordable electric cars. Tavares told Reuters that the big opportunity for India would be to be able to sell compact electric cars at reasonable prices and protect profitability. There is growing tension between China and the Western world. This will have consequences in business terms. India is clearly the power best suited to take advantage of this opportunity.”

He added that the customs duties imposed on imports to the Indian market necessitate manufacturing in India to be sold in the Indian market.

The China automaker joint venture recently filed for bankruptcy.

Related Posts

Soccer-Germany replaces supermarket logo with OneLove in press center By Reuters

© Reuters. Football – FIFA World Cup Qatar 2022 – Group F – Belgium v ​​Canada – Ahmed Bin Ali Stadium, Al Rayyan, Qatar – November 23,…

Should you renovate your home before selling?

Which home renovations are worth splurging on depends on your goal for the project and your budget. If you plan to maximize the value of your home…

Warren Buffett explains his $750 million charitable donation on Thanksgiving Eve

Warren Buffett Gerard Miller | CNBC Warren Buffett donated more than $750 million in Berkshire Hathaway stock to four foundations associated with his family on Thanksgiving eve,…

Matthews joined the Los Angeles Times as ME of Originals, and Vice President of Times Studios

Sharon Mathews He joined the Los Angeles Times as Managing Editor of Originals and Vice President of Los Angeles Times Studios. Matthews brings more than 25 years…

Citizens appoint a new state administrator

Following his duties as a political advisor and state electoral candidate, Douglas Rodgers will now be tasked with leading national state operations.

Aviation Center reports record September, October company sales

Flight Center Travel Group reported record monthly corporate travel sales in September and October, though managing director Graham Turner said the travel management company still has plenty…

Leave a Reply

Your email address will not be published. Required fields are marked *