Stellantis CEO Carlos Tavares is set to address Italy’s parliament on October 11, following the company’s announcement of a production suspension for its Fiat 500 electric vehicle (EV) due to weak demand. Stellantis extended the halt until November 1, citing a broader global slowdown in EV sales, which is largely attributed to inconsistent green incentive policies. The Fiat 500 is produced at the company’s historic Mirafiori plant in Turin, but the drop in orders has forced Stellantis to reconsider its production strategy for electric cars in Europe.
Stellantis acknowledges that the European EV market is facing significant challenges, and it plans to shift focus by starting production of a new Fiat 500 Hybrid in early 2026. As the demand for electric vehicles wanes, Stellantis and other automakers are grappling with how to balance future EV investments with fluctuating market conditions.
