Stellantis Suspends Production in Russia

Rhea-AI Summary

Stellantis has suspended its manufacturing operations in Kaluga, Russia, due to increasing cross sanctions and logistical challenges. This decision aims to ensure compliance and safeguard employees. The automaker emphasizes its condemnation of violence and supports efforts to restore peace. This move reflects Stellantis's commitment to adhering to international sanctions and maintaining operational integrity.

Positive

• Stellantis demonstrates strong compliance with international sanctions, potentially protecting the company's reputation.
• The suspension may limit operational risks associated with ongoing geopolitical tensions.

Negative

• Suspension of production in Kaluga may lead to decreased revenue and operational capacity in the region.
• Geopolitical challenges could affect Stellantis's overall supply chain and market presence.

Stellantis Suspends Production in Russia

AMSTERDAM, April 19, 2022 – Given the rapid daily increase in cross sanctions and logistical difficulties, Stellantis has suspended its manufacturing operations in Kaluga to ensure full compliance with all cross sanctions and to protect its employees.

Stellantis condemns violence and supports all actions capable of restoring peace.

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About Stellantis

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep_®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.

	@Stellantis		Stellantis		Stellantis		Stellantis
For more information, contact:   communications@stellantis.com www.stellantis.com

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FAQ

Why did Stellantis suspend production in Russia?

Stellantis suspended production in Russia due to increasing cross sanctions and logistical difficulties.

When was Stellantis's production in Kaluga suspended?

Stellantis suspended its Kaluga production on April 19, 2022.

What is the stock symbol for Stellantis?

The stock symbol for Stellantis is STLA.

How does the suspension of production affect Stellantis's stock?

The suspension may lead to decreased revenue and operational capacity, potentially impacting Stellantis's stock performance.

What are the implications of Stellantis's suspension of operations in Kaluga?

The implications include operational risks and potential revenue loss due to ongoing geopolitical tensions.