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Stellantis Warns of Car Market Collapse If EVs Don’t Get Cheaper

  • Carmaker seeks to cut cost of making electric cars 40% by 2030
  • CEO Tavares says access to raw materials remains challenging
A Jeep Grand Cherokee 4xE electric vehicle at the 2022 New York International Auto Show on April 13.

A Jeep Grand Cherokee 4xE electric vehicle at the 2022 New York International Auto Show on April 13.

Photographer: Michael Nagle/Bloomberg
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One of Europe’s biggest automakers warned after a landmark deal to phase out combustion engines that the industry is doomed unless electric vehicles get less expensive.

Stellantis NV is aiming to cut the cost of making electric vehicles 40% by 2030, Chief Manufacturing Officer Arnaud Deboeuf said Wednesday. The producer of Fiats and Peugeots plans to manufacture some parts in-house and also pressure suppliers to cut the price of their products.