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Stellantis NV (NYSE:STLA) is reportedly halting production at its Warren, Michigan, plant, producing the Jeep Wagoneer SUV, due to a fire incident at a supplier.
Check out the current price of STLA here.
The automaker halted production at the facility on October 13 and will resume production only after November 3, 2025, according to a report by Bloomberg on Tuesday. Stellantis confirmed the news via an email cited in the report, saying that production was temporarily ceased due to "a parts shortage."
Eric Graham, a representative for the United Auto Workers Union cited in the report, said that the plant was experiencing a shortage of aluminium hoods and doors for the Wagoneer.
The news comes with Novelis, an aluminium manufacturer that is a key supplier for Ford Motor Co. (NYSE:F), reporting a major fire incident at its Oswego, New York, facility in September, which rendered over 40% of the factory unable to carry out production.
Novelis supplies to Ford, as well as other manufacturers like Toyota Motor Corp (NYSE:TM) and Volkswagen AG (OTC:VWAGY) and Hyundai Motor Co. (OTC:HYMLF).
Meanwhile, Stellantis has announced a partnership with Pony AI Inc. (NASDAQ:PONY) to test self-driving electric vans in Europe. The collaboration focuses on deploying the vans designed for robotaxi operations, with initial real-world testing to begin in Luxembourg later this year.
Stellantis also announced a $13 billion investment in the U.S. market as the automaker aims to bolster its U.S. production by 50% and introduce over five new vehicles. The automaker also said the investment will add over 5,000 jobs across the U.S.
Stellantis scores poorly on the Momentum and Growth metrics, but offers a favorable price trend in the Short and Medium term. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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