Carmaker Stellantis warned recently that raising interest rates to curb soaring inflation could lead to a slowdown in economic growth. Stellantis CEO Carlos Tavares said at the Paris Motor Show that he expects inflation to be brought under control in the next one to two years.
Information map (from: Ford official website)
Going forward, inflation levels will have to fall as higher interest rates are now taking care of the problem,” he said. But this will come at the cost of slower economic growth and eventually also at the cost of increased unemployment. Therefore, I think inflation will be under control in the next one to two years.”
In addition to this, Don Weisel expects the supply shortage of semiconductor chips to be resolved by the end of 2023. He said, “By the end of 2023, the semiconductor supply problem should be resolved.”
In addition, Stellantis COO Mark Stewart said the company needs to build four battery factories in North America by 2030. Previously Stellantis has announced that it will build two joint venture battery plants in Indiana and Canada, which are expected to be operational in 2025. Stewart expects the company to announce the third plant in the second quarter of next year.
Asked if the joint venture would accept the unionization of workers, Stewart said it would be up to the workers, but the company is open to the idea. We welcome unions into these plants,” he said. We anticipate that workers will likely unionize.”
