MILAN (Reuters) - Stellantis ( STLA ) Chief Executive Carlos Tavares said on Wednesday the transition to electric mobility would involve a "significant burden" also for auto suppliers, as the industry races to cut costs.

Tavares said production costs for electric vehicles are higher than those for equivalent petrol cars, forcing automakers to cut them in every aspect of their operations, including supply chains and logistics.

"The EV race has become a cost cutting race," he said during a Bernstein conference.