03:07 PM EDT, 06/04/2024 (MT Newswires) -- Stellantis ( STLA ) plans 100% output at its Italian plants by 2030, with new hybrid models in the fold, Reuters reported Tuesday, citing Chief Executive Carlos Tavares.

Tavares' comments come after sparring with Italian government over moving jobs out of the countries, especially for models of iconic brands like Fiat and Alpha Romeo. The executive has criticized high energy prices in the country as one of the reasons.

The company has assured unions about long-term production. Agreements on voluntary redundancies suggest potential job cuts from its current Italian workforce of 43,000, Reuters said.

The automaker also aims to increase its annual production in Italy to one million by the end of the decade, a rise from 750,000 units. This will include new hybrid models, after seeing a slowdown in electric vehicle sales, Reuters said.

Stellantis ( STLA ) didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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