Stellantis chairman to address Italian parliament on auto sector evolution

Investing.com -- John Elkann, the Chairman of Stellantis (NYSE:STLA ), has consented to address the Italian parliament on the evolution of the automotive industry in Europe and Italy, according to a statement from the automaker. This comes after Elkann had initially resisted calls to speak before the lawmakers. The company's announcement comes in the wake of a recent plan unveiled by Stellantis to boost production in Italy, marking a significant improvement in its previously strained relationship with the Italian government.

Elkann has been temporarily leading the company following the resignation of CEO Carlos Tavares. Tavares had a challenging interaction with Italian lawmakers back in October. Now, Elkann is set to speak before the relevant committees of both the lower and upper house of parliament, as per the company's statement.

The statement did not provide a specific date for Elkann's parliamentary hearing. A representative for the speaker of the lower house of parliament also confirmed that a date for the hearing has not yet been scheduled. This announcement comes a day after Fiat-parent Stellantis released an optimistic plan to increase production in Italy, a move that has warmed its relationship with Italy's nationalist government.

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Source: Investing.com