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Stellantis (STLA.US) CEO stated that measures are being taken to avoid factory closures.
Auto manufacturer Stellantis (STLA.US) CEO Carlos Tavares stated that the company has taken measures and is making efforts to avoid the risk of factory closures faced by competitors like Volkswagen. Earlier, Volkswagen announced the first-ever consideration of closing its factories in Germany, leading the market to estimate that more European auto manufacturers may take similar measures to cope with low factory utilization in the region, increasing price pressures from Asian competitors, and a more severe economic environment.
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