Stellantis, the world’s No. 4 carmaker, is looking to adopt the low-cost mindset of Chinese EV makers despite facing trade barriers in the EU and the US. CEO Carlos Tavares criticizes tariffs as anticompetitive and argues that legacy carmakers need to compete with Chinese rivals who produce electric vehicles at a third of the cost.
To stay competitive, Tavares believes in “trying to be Chinese ourselves,” which led Stellantis to acquire a stake in China EV maker Leapmotor last year. This partnership allows Stellantis to access Leapmotor technology and produce their EVs outside China.
While facing challenges in the EU and the US, Stellantis, along with other carmakers, are establishing partnerships with Chinese companies to compete globally. In Europe, Chinese EVs are already on sale, with factories being built to produce more with government subsidies.
However, the US has implemented tariffs on Chinese-made EVs, making it difficult for Stellantis to follow the same strategy. Despite these obstacles, Stellantis and other carmakers are navigating through trade barriers to remain competitive in the global EV market.
[ad_2]
Source link
