Stellantis stops production of E-Fiat 500 due to weak demand in Europe – BNN Bloomberg

(Bloomberg) — Stellantis NV will halt production of the Fiat 500 electric model in Turin, Italy, next month due to a lack of orders from Europe.

The European market for electric vehicles is “in great difficulty,” the car manufacturer’s Italian subsidiary said on Thursday.

The European auto industry is facing a steep downturn and Stellantis is considering layoffs in Italy amid falling sales. Rival Volkswagen AG is considering closing factories in Germany for the first time in its history and France’s Renault SA warned that carmakers face fines if they fail to meet the European Union’s ambitious climate targets.

Italian government officials have called for a review of EU plans to ban the sale of new combustion engines from 2035, citing difficult market conditions.

Stellantis, which was formed in 2021 from the merger of Fiat Chrysler Automobiles and the French PSA Group, has cut jobs and reduced capacity at its US factories after a slump in sales there almost halved profits in the first half of the year.

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