Stellantis confirms Belvidere investment plans are delayed

(Reuters) - Stellantis (NYSE:STLA ) on Tuesday confirmed it had notified the United Auto Workers (UAW) union that its plans for investments at Belvidere, Illinois, will be delayed but the automaker is not scrapping the planned outlay.



On Monday, the UAW said some of its local units representing workers at Stellantis are preparing to file grievances and could launch a nationwide strike, accusing the automaker of not honoring production commitments.

"(Stellantis) has not violated the commitments made in the investment letter included in the 2023 UAW collective bargaining agreement and strongly objects to the union's accusations," the company said in a statement on Tuesday.

Source: Investing.com