Stellantis CEO Carlos Tavares anticipates that his company's European plants will generate their own electricity, which may prove to be a beneficial investment due to the threat of Russia cutting off Europe's natural gas supply.
At the Detroit auto show, the executive said that the company is preparing a very strong energy use reduction plan, and is going to make significant investments to produce its own energy onsite, Reuters reported.
Tavares said that this measure "will be decided in the next few days," suggesting that the specifics of the plan have yet to be set in stone. He did say, though, that Stellantis plant sites have space for additional solar power arrays and seemed to shrug off deeper concerns relating to the issue.
Stellantis is a multinational automotive manufacturing corporation formed in 2021 on the basis of a 50/50 cross-border merger between the Italian-American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group. Stellantis owns the Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram and Vauxhall brands.
