Stellantis CEO Carlos Tavares on Wednesday said climate change policies should not be used to influence global investment decisions and to put countries in competition with each other.
“Policies on climate change should not be a weapon to rebuild competitiveness in a global trade approach,” Tavares said during Stellantis’ Freedom of Mobility Forum.
Congress last year announced $369 billion in subsidies to support clean technologies and electric vehicles under the Inflation Reduction Act, while China has been giving local automakers incentives for domestic production of battery electric vehicles.
The European Union responded last month with its proposed Green Deal Industrial Plan, concerned that the U.S. law could put companies based in Europe at a disadvantage and drive investments out of the region.
Sticks with electrification
The final decision by EU countries on Tuesday to allow sales of new combustion engine cars that only run on e-fuels to continue after 2035, will not change Stellantis’ electrification plans, Tavares added.
Decisions leading to those plans were made in 2014-2015, well before European parliament started regulating, Tavares said, adding the company was “absolutely on time to deliver that electrified, clean mobility.”