BRUSSELS — The EU should weaken its green car rules in an upcoming policy announcement or else risk sending the industry into a tailspin, Stellantis Chair John Elkann warned in an interview with POLITICO.
“It’s a tipping point. We have this moment where growth can be a choice, which is what has been decided in different parts of the world, or we accelerate the decline,” Elkann said.
Elkann, heir to the Italian Agnelli family which is a leading shareholder in Stellantis and Ferrari, is joining other auto industry executives in a bid to sway the European Commission ahead of a Dec. 10 announcement of its automotive package, aimed at rescuing a troubled industry that employs over 13 million in the EU.
Car sales in Europe have failed to rebound to pre-pandemic levels, Chinese competitors are gaining market share with tech-filled electric vehicles and a trade war launched by U.S. President Donald Trump is upending traditional supply chains and balance sheets.
