Stellantis units up activity forces as affect of Ukraine disaster on automakers intensifies

AMSTERDAM — Chrysler parent Stellantis has established two activity forces to cope with the results of the Russian invasion of Ukraine.

One of many activity forces is monitoring sanctions imposed by the U.S. and its Western allies on Russia and the way the automaker will adjust to them, CEO Carlos Tavares mentioned on Tuesday.

Tavares was talking with reporters on the firm’s world headquarters in Amsterdam the place the corporate is presenting a brand new strategic plan.

The opposite activity pressure is maintaining watch on the automaker’s 71 workers in Ukraine. The staff had been secure as of the final replace, Tavares mentioned.

The corporate’s enterprise in Russia represented about 20 million euros ($22.four million) when it comes to outcomes, Tavares mentioned.

Russia’s invasion of Ukraine has brought on automakers to pause manufacturing and minimize shipments of autos.

Hyundai will droop output at its plant in St. Petersburg March 1-5, Interfax information company reported on Tuesday, citing a Russia-based official for the South Korean firm.

Mitsubishi Motors mentioned on Tuesday that it might droop manufacturing and gross sales of its automobiles in Russia as a result of financial sanctions might set off provide chain disruptions.

Volvo Automobiles mentioned on Monday it might suspend car shipments to Russia till additional discover, whereas Volkswagen in Russia stopped delivering automobiles to sellers till additional discover.

VW beforehand mentioned it might halt production at two German electric car factories after a delay in getting elements made in Ukraine.