It will take global automakers time to sort out this latest disruption in the supply chain.
The U.S. Commerce Department today, through its Bureau of Industry and Security (BIS), responded to Russia’s further invasion of Ukraine by implementing a “sweeping series of stringent export controls that will severely restrict Russia’s access to technologies and other items that it needs to sustain its aggressive military capabilities.” Thus far major automakers with operations and interests in Russia have been silent.
The export control measures are the most comprehensive application of Commerce’s export authorities on U.S. items, including technology, as well as on foreign items produced using U.S. equipment, software, and blueprints, targeting a single nation. These were implemented with the cooperation of the United States, the European Union (EU), Japan, Australia, United Kingdom, Canada, and New Zealand. More nations are expected to align their export control policies and requirements with todays actions. “If necessary, based upon any subsequent destabilizing actions by Russia, the U.S. government will follow up in the days to come with additional stringent economic measures,” Commerce said. Continue reading →
Dare Forward 2030 – Stellantis Survival Plan Unveiled
“Dare Forward 2030 inspires us to become so much more than we’ve ever been,” said Tavares.
Stellantis N.V. today unveiled Dare Forward 2030, its strategic survival plan for the coming decade that will drive Stellantis employees to be ‘second to none’ in value creation for all stakeholders. Stellantis, the merged FCA and PSA, claims it will be “the industry champion in the fight against climate change, reaching carbon net zero emissions by 2038.” The revised, sweeping and difficult plan as presented is aspirational and similar to other global automaker’s plans (see AutoInformed on GM and Toyota) as the deadly effects of climate change continue to worsen, which according to the latest UN Report out yesterday might be irreversible. Stellantis is far behind industry leaders on electrification.
Stellantis to survive must operate under the “frame of mobility” set by governments and societies, particularly the EU and US, Tavares said while acknowledging the “traps” of moving too fast he previously warned of still exist. “Who can afford to let a big car company fail,” he asked? That will be up to governments or states as Tavares calls them. How much in incentives for consumers – and for how long – will be needed to spur electrification?
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