Stellantis, the renowned automaker that owns popular brands like Jeep, Ram, and Chrysler, has recently announced its withdrawal from CES 2024, the prominent tech trade show held in Las Vegas. This decision comes as a result of the ongoing United Auto Workers (UAW) strike, which has now entered its fifth week, and the financial implications it has posed on the company.
Key Takeaway
Stellantis has revealed that it will not participate in CES 2024 due to the ongoing UAW strike and the financial consequences it has imposed on the company. This decision underscores the importance Stellantis places on sustaining its business fundamentals and securing its future.
Stellantis Prioritizes Business Sustainability
In a statement issued on Tuesday, Stellantis emphasized the need to safeguard its business fundamentals to ensure the long-term viability of the company. With negotiations between Stellantis and the UAW still ongoing, the company’s leadership has deemed it essential to protect the future of the organization.
Historically, CES has seen increased participation from automakers, with brands like General Motors, Ford, Toyota, Hyundai, and Stellantis investing significant resources to showcase their latest vehicles and cutting-edge technologies. In fact, CES 2023 witnessed a surge in in-car tech and electric vehicles, generating immense excitement within the industry.
Stellantis’ Notable Presence at CES 2023
During CES 2023, Stellantis made its mark by unveiling impressive concepts such as the Peugeot and Ram 1500 Revolution trucks. The company also seized the opportunity to expand its Free2move mobility service brand in the United States, offering car-sharing, rental, and subscription services. Additionally, Stellantis unveiled a new business unit dedicated to transforming vehicle data into marketable products to drive revenue growth.
However, in light of the UAW strike’s impact on Stellantis’ financial stability, the automaker has taken the difficult decision to withdraw from CES 2024. As negotiations continue, Stellantis wishes to prioritize its business operations and ensure the sustainability of the company going forward.
