Italian Government May Force Sale of Two Defunct Stellantis Brands to Chinese Companies

Stellantis might be shedding two of its defunct auto brands, but not by choice. The Italian government is mulling plans to take over Autobianchi and Innocenti and sell them to Chinese companies in an effort to have them build factories in the country.

Both brands are former Fiat divisions, but neither has operated in any official capacity since the 1990s. The Italian government can take control of brands that have been idle for at least five years, though it’s unclear how the process would work or how long it might take.

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Report: Stellantis Could Be Eying Massive Layoffs to Cut Operating Costs

Stellantis is looking to cut costs, and its next moves could have a significant impact on its Detroit-area workforce. Company CEO Carlos Tavares vowed to implement measures to reduce the automaker’s expenditures, which could come with job cuts.

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  • James Hendricks The depreciation on the Turbo S is going to be epic!
  • VoGhost Key phrase: "The EV market has grown." Yup, EV sales are up yet again, contrary to what nearly every article on the topic has been claiming. It's almost as if the press gets 30% of ad revenues from oil companies and legacy ICE OEMs.
  • Leonard Ostrander Daniel J, you are making the assertion. It's up to you to produce the evidence.
  • VoGhost I remember all those years when the brilliant TTAC commenters told me over and over how easy it was for legacy automakers to switch to making EVs, and that Tesla was due to be crushed by them in just a few months.
  • D "smaller vehicles" - sorry, that's way too much common sense! Americans won't go along because clever marketing convinced us our egos need big@ss trucks, which give auto manufacturers the profit margin they want, and everybody feels vulnerable now unless they too have a huge vehicle. Lower speed limits could help, but no politician wants to push that losing policy. We'll just go on building more lanes and driving faster and faster behind our vehicle's tinted privacy glass. Visions of Slim Pickens riding a big black jacked up truck out of a B-52.