"Stellantis CEO's Warning: EV 'Bloodbath' Looms Amid Price Cuts and Political Shifts"

Stellantis CEO Carlos Tavares warns of a potential "bloodbath" and "race to the bottom" in the EV market if manufacturers, following Elon Musk's lead, continue to cut prices without considering costs. As EV demand slows, Tavares cautions against sacrificing profitability and urges for a strategic approach. The EV market slowdown has led to Ford scaling back production and laying off workers, while Tesla's price cuts have significantly impacted its profit margin. With the automotive industry facing challenges, including rising costs and declining sales, the pricing strategy of EV manufacturers is under scrutiny.