Stellantis CEO: EU’s EV Drive Comes with Environmental and Social Risks

PARIS, Jan 18 (Reuters) – The European Commission’s strategy to phase out combustion engines in favour of electric vehicles is a political choice that carries environmental and social risks, Stellantis CEO Carlos Tavares said in an interview with European newspapers.

Since merging Fiat Chrysler and Peugeot to create the world’s No. 4 carmaker by production, Tavares has mapped out a 30 billion euro ($34 billion) electrification plan that helped Stellantis shares surge more than 60% in their first year.

“What is clear is that electrification is a technology chosen by politicians, not by industry,” he said in a joint interview with France’s Les Echos, Handelsblatt, Corriere della Sera and El Mundo.

He added …

Source: Reuters