- Stellantis CEO Antonio Filosa urged European regulators to create incentives for carmakers that manufacture in the region, citing intensifying competition from Chinese rivals.
- The EU Commission's proposed Made in Europe legislation would require carmakers to meet minimum local content requirements to sell in the regional market.
- EU trade commissioner Maroš Šefčovič said Friday that China agreed to halve its exports of hybrid cars to the bloc after Beijing had repeatedly rejected requests.
- Stellantis added 2.7% and Renault rose around 3% in early trading Monday after the agreement.
- Stellantis shares are down almost 60% so far this year, and the company is executing a $70 billion turnaround strategy amid declining demand.
- Chinese carmakers' share of European car sales rose from close to zero in 2020 to 12% in August 2026, according to Dataforce.
Quotes
“What we are supporting a lot in Europe is to establish for everybody a level playing field”
“I believe that Chinese automakers, the ones that we know, can really offer many consumers in many segments, good technology, and competitive prices”