Carmaker Stellantis Reports Losses for 22.3 Billion Euro

Stellantis, owner of Opel, Peugeot, Fiat etc., has reported a loss of 22.3 billion Euro, entirely due to the catastrophic “Electric only” policy of the European Union. Stellantis had invested everything in the “transition,” only to realize—maybe too late—that this was leading to Death Valley. It has now inverted policy. The CEO responsible for the failed policy, Carlos Tavares, is now out (with a fat Bonus in his pocket). Stellantis has almost 260,000 employees, many of whom are already at short-work. The future looks grim for those historical brands.