Multinational automaker Stellantis, which formed last year in a merger between Italian-American conglomerate Fiat Chrysler Automobiles and the French PSA Group, is shuttering a plant in Illinois that produces the Jeep Cherokee.
The company dropped a statement for local media: Our industry has been adversely affected by a multitude of factors like the ongoing COVID-19 pandemic and the global microchip shortage, but the most impactful challenge is the increasing cost related to the electrification of the automotive market.
Stellantis has taken a number of actions to stabilize production and improve efficiency at its North American facilities to preserve affordability […]
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