European car manufacturer Stellantis has postponed planned investments in its Belvidere facility in the state of Illinois. However, the company claimed it remains committed to its intentions. Original agreements included the construction of a 3.2-billion-dollar battery factory and 1.5 billion dollars in upgrades at the site to support electric vehicle production.
Market developments and consumer demand
Stellantis cited the need to ensure its competitiveness as the reason for the delay. At the same time, the company said that market developments and consumer demand were factors influencing the timetable. The exact timing of the planned investments will remain unclear, as Stellantis did not provide any information on the extent of the delay. The UAW has strongly criticized the delay and warned of possible negative consequences for the site and jobs.
