Carlos Tavares has resigned as Stellantis CEO after nearly four years, amid plunging electric vehicle sales and rising competition from Chinese car makers. His departure highlights the mounting challenges for legacy carmakers in the EV transition.
Credit: euronews (in English) Duration: 00:36Published
The Chancellor has pledged “proper support” for the car industry as the Government phases out new petrol and diesel vehicle sales by 2030. Rachel Reeves confirmed a consultation is underway to review inherited plans, including potential fines for firms not meeting electric vehicle sales targets. She emphasised the need to balance the transition with maintaining investment and jobs in Britain, ensuring the automotive sector thrives during the shift to electric vehicles. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
![Stellantis CEO Tavares quits: Why his EV bet sparked his departure [Video]](https://video.newsserve.net/300/v/20241202/1394995174-Stellantis-CEO-Tavares-quits-Why-his-EV-bet.jpg)
![Chancellor vows support for car industry in EV shift [Video]](https://video.newsserve.net/300/v/20241127/1394564054-Chancellor-vows-support-for-car-industry-in-EV.jpg)
![Ford to cut thousands of jobs in Europe blaming poor EV sales and economy [Video]](https://video.newsserve.net/300/v/20241120/1393950570-Ford-to-cut-thousands-of-jobs-in-Europe.jpg)
