Intensifying competition from China prompts Stellantis CEO to press for less restrictive EU regulations
Stellantis CEO Antonio Filosa Calls for Relaxation of EU Emissions Targets
Antonio Filosa, the new CEO of Stellantis (NYSE:STLA), has issued a warning about the auto industry contracting under the weight of EU regulation. In his first interviews since taking up the position in June, Filosa called on European policymakers to loosen emissions targets.
Filosa, a longtime Fiat executive and protege of Sergio Marchionne, believes excessive regulation raises the cost of small vehicles and depresses sales, threatening the health of the European auto industry. He stated that strict regulations are driving up costs, leaving carmakers vulnerable to Chinese rivals.
Stellantis, which was formed through the merger of Fiat Chrysler Automobiles (FCA) and PSA Group, is facing challenges such as sliding U.S. sales due to President Donald Trump's tariffs and oversupply issues in Europe. The company has engaged the consultancy firm McKinsey & Co. to provide strategic advice on Maserati and Alfa Romeo.
Filosa mentioned that production plans for the new Jeep Compass in Melfi and the Fiat 500 hybrid in Mirafiori will increase volumes in Italy if European rules change. He reaffirmed Stellantis's investment plans for Italy and stated that the company remains committed to its brand portfolio.
Regarding Maserati, Filosa clarified that it is not for sale. He also expressed concern about the glaring overcapacity in China and downplayed the idea of further industry consolidation. The topic of potential plant closures was brought up but no definitive statements were made.
France remains "absolutely strategic" for Stellantis, according to Filosa. He mentioned an "industrial future" for the Poissy site close to Paris. Filosa did not provide any new information about Stellantis's commitment to its brand portfolio or its investment plans.
As Chinese manufacturers such as BYD expand aggressively in Europe with lower-cost models, Filosa has expressed concern that strict regulations are driving up costs, leaving carmakers vulnerable to Chinese rivals. He called on European policymakers to reconsider their approach to emissions targets to help the auto industry remain competitive.
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