Elkann, Stellantis does not need state intervention

“States enter companies when they are doing badly and Stellantis is doing very well.” This was stated by the president of Stellantis John Elkann, on the sidelines of a meeting at the Festival of Economics.

“From the results we had in 2022 – added Elkann – we are in absolute value the company in the automotive sector that has had the highest operating results and in our history which was born as Fiat three centuries ago which then evolved with FCA and today is Stellantis we have never had any need to have the State in our capital”. As for the presence of the French state in PSA, Elkann observed: “Our French partner has had difficulties over the years which required an intervention by the French state in that case”. “I think with great pride that in recent decades we have managed to transform Italian production plants into plants that have the world as their market”. So John Elkann responded to the government’s request for Stellantis to increase car production. “If one thinks that today Jeeps are made in Basilicata, Dooges are made in Campania and sold in America, in Piedmont the electric 500 will go to America, not to mention the extraordinary work of repositioning Maserati and Alfa Romeo, which the world as a market,” Elkann said. “The important thing is to keep the levels of competitiveness high”. “What is important – explained Elkann – is the added value. Italy has managed to create the Motor Valley, thanks to extraordinary companies, of which we are proud to be part with Maserati and Ferrari, a unique reality in the world. I believe that the reality of the European market is very difficult, with a drop of 25% since the pre-Covid period, one car out of four is sold less. The important thing is to keep the levels of competitiveness high and we have seen this in Europe, in a country like Spain which, working on competitiveness, has managed to obtain high levels of competitiveness from the automotive industry produced in its country”.