STELLANTIS NV (STLAP)

Index:

CAC 40

  12.17
   
  • Change Today:
     -0.04
  • 52 Week High:  27.16
  • 52 Week Low:  11.85
  • Currency: Euro
  • Shares Issued: 3,165.19m
  • Volume: 2,301,298
  • Market Cap:  38,514m
  • Beta: 1.42

Stellantis Italy van plant pauses production due to engine shortage

By Frank Prenesti

Date: Monday 07 Feb 2022

LONDON (ShareCast) - (Sharecast News) - Vehicle maker Stellantis stopped production for a day on Monday at its Sevel van assembly plant in Italy, due to a shortage of engines supplied by a group factory in France, according to a union representative cited by European media.
Sevel, which is Europe's largest van assembly facility, makes light commercial vehicles under the Fiat, Peugeot and Citroen marques. Fiat-branded vans are fitted with engines the group builds in Italy, while engines for former PSA's Peugeot and Citroen vans are supplied by a Stellantis plant in France.

Nicola Manzi, the local representative of the UILM union, said the stoppage came after an extra production day scheduled to help make up for lost production had also been cancelled due to engine shortages.

"Operations will restart regularly on Tuesday morning," Manzi said. "Clearly we cannot rule out more stoppages could occur in the future, due to components, materials and in general one of the many issues affecting the global supply chain."

Sevel suffered several days of production stoppages last year, like most of Stellantis plants in Italy, mainly due to a global shortage in the supply of semiconductors caused in part by disruptions to production during the Covid pandemic.

The plant will work on Feb. 12 and 13, in two additional days that had already been scheduled before the stoppage due to engine shortages, Manzi told Reuters.,

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STELLANTIS NV Market Data

Currency Euro
Share Price   12.17
Change Today   -0.04
% Change -0.36 %
52 Week High  27.16
52 Week Low  11.85
Volume 2,301,298
Shares Issued 3,165.19m
Market Cap  38,514m
Beta 1.42

Trades for 21-Nov-2024

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