“Of course I’m not ruling anything out. » On RTL This Monday, October 14, 2024, Carlos Tavares, boss of Stellantis, opened the door to potential factory closures. “If we want to remain competitive with Chinese competition, we will need measures”he declared again, assuring that “there are no taboos at Stellantis”.
On Sunday, Carlos Tavares had already given an interview to Echoes . In it, he considered that “Closing the borders to Chinese products is a trap”. “They will get around the barriers by investing in factories in Europe. Factories which will be partly financed by state subsidies, in low-cost countries »explained the CEO of Stellantis. Chinese electric vehicles sold in Europe must face an import tax of up to 45% from the end of October.
Some manufacturers like BYD have already announced they are opening sites in Europe to avoid these surcharges. In this context, are Stellantis factories threatened? “Nothing should be excluded”replied Carlos Tavares. “If the Chinese take 10% market share in Europe at the end of their offensive, that means they will produce 1.5 million cars. That’s seven assembly plants. European manufacturers will then have to either close them or transfer them to the Chinese. »
Retirement in January 2026
Volkswagen a “shot first” by mentioning the closure of sites in Germany. “For our part, there is no reason to accept a deterioration in our performance if the Chinese progress in Europe, even if we will keep our breakeven point (the number of cars necessary to make fixed costs profitable) below the threshold of 50% activity »he stressed.
Facing difficulties in North America and Europe, the boss of Stellantis reviewed his management team, notably replacing his financial director. The automotive group also confirmed the retirement of Carlos Tavares, 66, at the end of his mandate in January 2026. “It’s my decision”reacted Carlos Tavares on RTL.
