07:20 AM EDT, 07/12/2024 (MT Newswires) -- Stellantis NV ( STLA ) was warned by Italian Industry Minister Adolfo Urso to make "responsible" choices on jobs for its car plants and for local suppliers as the company unveiled a new Serbian-made Grande Panda EV model for Fiat, Bloomberg News reported Thursday.

The minister is concerned about preserving jobs after Stellantis' ( STLA ) local car production in Italy fell 36% in the first half of this year, according to the report.

This comes as the car manufacturer is struggling with falling demand for electric cars after key markets such as Germany removed or lowered subsidies, Reuters said.

Meanwhile, the company's aggressive cost cutting has come under scrutiny as the country seeks to protect jobs at risk from the industry's shift to electrification.

Stellantis ( STLA ) did not immediately respond to MT Newswires' request for comment on the matter.

(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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