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Opel confident on electric strategy amid Stellantis leadership turmoil
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Opel confident on electric strategy amid Stellantis leadership turmoil
Dec 5, 2024 10:17 AM

PARIS, Dec 5 (Reuters) - Opel will continue its role as

the electric vehicle pioneer for Stellantis ( STLA ) despite

the sudden departure of CEO Carlos Tavares, the German brand's

CEO told Reuters on Thursday.

WHY IT'S IMPORTANT

Stellantis ( STLA ), the world's fourth-largest automaker, has been

plunged into uncertainty this week with the abrupt resignation

of Tavares due to disagreements over the company's turnaround

strategy following a hefty profit warning.

KEY QUOTES

"Opel has a very clear path towards electrification, and the

organization will not change these fundamental choices," said

Florian Huettl, CEO of Opel, adding:

"In 2025, which will be the next stage of electrification,

it will be very important to be very agile, very close to the

market, and very close to operations."

CONTEXT

The group has put in place an interim leadership structure,

with a streamlined executive committee chaired by John Elkann,

until a successor to Tavares is chosen.

The leadership vacuum comes at a critical time for

Stellantis ( STLA ), which faces challenges including overcapacity and

bloated inventory in the U.S., sluggish global car demand, and

intensifying competition from Chinese rivals.

WHAT'S NEXT

Opel currently offers a mix of conventional combustion cars

and electrified models, but pledged to fully pivot to a pure

electric lineup in its next product cycle.

Opel's all-new Grandland SUV, the first Stellantis ( STLA ) electric

model with a battery manufactured at ACC's French gigafactory,

is due to go on sale in the first quarter of next year.

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