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STELLANTIS IS LAUNCHING FUNDS TO SUPPORT UKRAINIANS

It Will Send Over 1 Million USD Funds To Support Ukrainian Refugees

PSA FCA Merger Creates Stellantis NV
Image Via FCA.

Stellantis, the global automaker that builds the Dodge Charger, Dodge Challenger, Ram 1500, Jeep Wrangler, and so many others, has officially condemned the aggression of Russia on Ukraine, and announced on Tuesday that it would start a fund to support Ukrainian refugees. Through its foundation, the automaker commits €1 million ($1,110,610 USD) in humanitarian aid. In addition, with the support of Stellantis’ head of operations in Ukraine, the company will rely on a local NGO to support Ukrainians in using the funds.

According to The Detroit News, the action by Russia has led to halted production at several significant automakers in Europe. CEO Carlos Tavares stated during the “Strategic Plan” presentation that Stellantis has created a task force last week dedicated to actively monitoring the well-being of their 71 employees in Ukraine around the clock. While they were all accounted for late Monday, three could no longer be reached on Tuesday. But today, Stellantis has announced that they once again know that all of their employees are safe at this time. Additionally, the company has launched a second task force to stay on top of the evolving situation and the growing number of sanctions which Tavares said the company would comply with.

With regards to whether or not Stellantis will continue to sell cars in Russia, Tavares has stated that the company is expected to be compliant in peacetime and honor sanctions in wartime. But he expects the time will come when plants can no longer operate, or cars will be sold. Stellaris does have a plant in Kaluga, Russia.

Stellantis is said to have little exposure financially in Ukraine, and has less than 2 percent market share in Eurasia. The revenue they receive from the region is “not material” in economic terms. Unlike many other automakers with a supply base in eastern Europe, Stellantis has never established a strong presence there.

Stellantis CEO Carlos Tavares Software Day Electric Vehicle Vehicles EV Politics
Stellantis CEO Carlos Tavares. Image via Stellantis.

Written by Zac M.

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