According to a source, Stellantis Chairman John Elkann spent four days in Washington meeting with new U.S. President Donald Trump and various top administration officials. Elkann, who currently oversees Stellantis, attended celebrations for Trump's inauguration and was part of a group of global executives invited.
Following his inauguration, Trump did not immediately impose tariffs but mentioned plans for new tariffs on imports from Canada and Mexico starting on Feb. 1. Stellantis, known for producing cars in Canada and Mexico for the U.S. market, expressed confidence in its ability to adjust to potential policy changes under Trump.
The company issued a statement praising Trump's focus on policies supporting a strong manufacturing sector in the U.S. and expressed willingness to collaborate to enhance the industry. Stellantis has two assembly plants in Mexico and two in Ontario, Canada, where various models, including Ram pickups, Chrysler vehicles, and mid-sized SUVs, are manufactured.
Around 40% of Stellantis vehicles sold in the U.S. come from Mexico and Canada, as indicated by analysts at Banca Akros. During his inauguration speech, Trump announced the revocation of a 2021 executive order signed by his predecessor Joe Biden, which aimed to ensure that half of all new vehicles sold in the U.S. by 2030 would be electric.