Stellantis Europe head Jean-Philippe Imparato warned that either EU guidelines change, or at year-end factories in Italy will be closed. The Stellantis group includes all Italian automakers and half of the French ones. Car sales in Italy were down 32.9% in May, and production was down 36.8% in 2024.
Speaking at an event at the Chamber of Deputies building, Imparato said that two things are killing the automotive industry in Italy: 1) high cost of energy; 2) EU Green Deal guidelines. The latter concerns not just automakers in Italy, but all EU member states.
The EU emission guideline demands that 20% of production is E-cars. If the target is not met at year-end, Stellantis will have to pay a fine of up to €2.5 billion. Currently, Stellantis has hit the target of 10% EVs, which represents one third of the European market. Doubling that rate, would mean 60% of the market, which is impossible to reach.
