Stellantis N.V., the multinational automotive company, has announced plans to lay off about 400 employees in the engineering, technology, and software division in the US as part of a restructuring initiative aimed at reducing costs as the company transitions from combustion engines to electric vehicles.
The report further mentions that Stellantis plans to launch 18 new electric vehicles this year and also cut costs because the production of electric vehicles costs 40% more than gasoline-powered vehicles. The layoffs are expected to take place on March 31, 2024.
