Carmaker Stellantis Reports Losses of €22.3 Billion

Stellantis, owner of Opel, Peugeot, Fiat etc., has reported a loss of €22.3 billion, 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 on short work. The future looks grim for those historical brands.