Market Chatter: Stellantis to Move Forward as Single Company, CEO Filosa Says

MT Newswires Live

Feb 06

Stellantis (STLA) will move forward as one company, clearing away speculation about selling off brands or splitting up, CNBC reported Friday, citing Chief Executive Antonio Filosa.

"Stellantis is a very strong global company that is very proud to have very deep regional groups," CNBC quoted Filosa as saying in a media call. "It makes all of sense to stay together. We want to stay together for many years to come."

The company announced Friday charges of about 22.2 billion euros ($26.5 billion) for H2 in 2025 as part of a reset of its business to realign product plans with customer demand and new US emissions regulations, citing significantly reduced expectations for electric vehicle products.

Among the organizational changes being implemented is allowing regional teams to make decisions based on customer preferences and cancellation of products that are not profitable, the company said.

Stellantis shares were down more than 25% in recent trading Friday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 7.12, Change: -2.42, Percent Change: -25.37

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