Antonio Filosa, CEO of Stellantis, emphasized the need for European regulators to establish a level playing field for car manufacturers, particularly in light of the increasing market share of Chinese brands.
He highlighted the proposed 'Made in Europe' legislation, which aims to enforce local content requirements for vehicles sold in the EU, as a crucial step to protect and incentivize local production. Stellantis is currently undergoing a $70 billion turnaround strategy due to declining sales, with its shares plummeting nearly 60% this year.
The competitive landscape is shifting, as Chinese automakers have seen their global market share rise significantly, from close to zero in 2020 to 12% in August 2026. Recent developments include an agreement where China will reduce its hybrid car exports to the EU, which has positively affected European carmaker stocks, including a 2.7% increase in Stellantis shares.
This situation underscores the urgency for European manufacturers to adapt to the changing market dynamics and the potential implications for their long-term viability