Stellantis, which produces Jeep and Chrysler cars, said it would stall an Illinois plant due to the high cost of electrification in the auto market.
, confirmed to Insider that it plans to idle an assembly plant in Belvidere, Illinois, beginning in February 2023.
"Our industry has been adversely affected by a multitude of factors like the ongoing COVID-19 pandemic and the global microchip shortage, but the most impactful challenge is the increasing cost related to the electrification of the automotive market," the company said in a statement.
100% of its sales in Europe and 50% of sales in the US would be of battery electric vehicles by the end of 2030. Jeep Cherokee"The company also is working to identify other opportunities to repurpose the Belvidere facility and has no additional details to share at this time," Stellantis told Insider.
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