- Stellantis NV (NYSE:STLA) vehicle production in Italy is likely to fall for a fifth consecutive year, the FIM-CISL union said.
- The main reason for the drop in production, Reuters reported, is difficulties in chip procurement.
- FIM-CISL estimates Stellantis is expected to produce less than 650,000 vehicles in 2022 compared to 673,574 in 2021.
- Also Read: Stellantis Inks Deal For Fiat Vehicle Production In Algeria
- In the first nine months of 2022, the automaker’s production slipped 2.4% Y/Y to 515,380 vehicles.
- The problems associated with chip supply are likely to drag into 2023 as well said FIM-CISL head for automotive Ferdinando Uliano.
- “The war in Ukraine, the halt to Russian gas supplies … can only further worsen the problem of the procurement and costs of raw materials,” he added.
- Price Action: STLA shares are trading lower by 1.26% at $12.15 on the last check Friday.
- Also Read: Stellantis Opens Software Hub In India To Enhance Digital Support In Vehicle Production
Editas Medicine Receives FDA Orphan Drug Designation For EDIT-301 For The Treatment Of Sickle Cell Disease
Editas Medicine, Inc. (NASDAQ:EDIT), a clinical stage genome editing company, today announced that the U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation to EDIT-301, an investigational, gene
