Multinational auto giant Stellantis has reported a significant decline in both revenue and stock prices in 2024, as the automotive markets in Europe and the United States have entered a slump this year.
Italy, an important production base for Stellantis, is now facing challenges of reduced capacity and layoffs.
Stellantis' Atessa plant, located in central Italy, is the largest light commercial vehicle production base in Europe, producing around 230,000 vehicles last year.
The plant has been continuously reducing production this year, and a third of the employees have been on leave at home since June.
"From producing a maximum of 1,200 vehicles per day in the past, to producing less than 1,000 vehicles per day now, we are currently receiving guaranteed wages. This situation is expected to continue until January 2025," said an employee named Romeo Pasquarelli.
For the manufacturer's Cassino plant, also located in central Italy, it has experienced an even more severe reduction in production.
Data shows that in the first nine months of this year, the plant's output was less than 20,000 vehicles, a 50 percent decline compared to last year, marking a historic low.
In the first half of this year, Stellantis's profits were halved compared to the same period last year, with third-quarter deliveries in Europe and North America declining by 17 and 36 percent, respectively.
As a result, all of Stellantis's factories in Italy experienced reduced production this year.
At the same time, the production of passenger cars and commercial vehicles by Stellantis in Italy decreased by 40.7 percent and 10.2 percent, respectively in the Jan-Sept period this year.
Some analysts say that if Stellantis does not increase its production in Italy, some 25,000 people may face unemployment in the short term.
Stellantis announced on Dec 18 that it will increase investment in Italy in 2025, while promising that all Italian plants will have plans to produce new models by 2032.
"(Stellantis's plan) will not solve all the problems, but the Italian government places great importance on the automotive industry because it is one of the symbols of Italian manufacturing," said Mayor of Piedimonte San Germano Gioacchino Ferdinandi.
Stellantis reports disappointing 2024 performance amid European, US market slump
Stellantis reports disappointing 2024 performance amid European, US market slump
Stellantis reports disappointing 2024 performance amid European, US market slump
China's space station is operating stably and demonstrating significant efficacy, according to a report released by the China Manned Space Agency on Monday.
The agency, which compiled the report to "mark the two-year anniversary of the space station's full establishment," said that such a report will be released annually based on the progress of the ongoing space missions.
It is the first report released by China detailing the progress made in scientific research and applications related to the country's space station over the past two years.
The report highlights 34 representative scientific research and application results selected from previously returned samples, research data, in-orbit experiments, and notable progress in scientific and application projects as well as various science promotion activities, showcasing China's capabilities and innovative spirit in the field of space technology.
Of the representative results, 13 are related to space life and human research, 12 are related to microgravity physical science research, and nine are related to new space technology and application research.
As of Dec 1, a total of 181 scientific and application projects had been carried out in orbit, with nearly two tons of scientific materials delivered and close to 100 types of experimental samples returned, generating over 300 terabytes of scientific data and obtaining more than 150 patents.
Notable achievements include the world's first rice and ratoon rice germplasm resources developed in space, and the first human embryonic stem cells differentiated into hematopoietic stem/precursor cells in space.
From 2020 to 2022, China carried out 12 flight missions to build a world-class space station.
The space station features independent innovation, overcoming more than 200 critical technology difficulties, with new technologies and products making up over 90 percent of the project and achieving full independent control of core components.
China's space endeavor has consistently set new records. In 2024, the Shenzhou 18 crew spent 192 days in orbit, breaking the record for the longest single flight time by Chinese astronauts.
Shenzhou 19 crew's extravehicular operations lasted nine hours, setting a world record for the duration of a single extravehicular activity in space.
As Shenzhou 19 crew has been on board China's space station for two months, a new round of material extravehicular exposure tests is set to begin. During the mission, the crew will conduct 86 experiments on space science and technology.
According to a national plan for space science missions and space research from 2024 to 2050 released in October, China aims to implement thousands of scientific and application projects across 32 research themes over the next decade.
"As a national space laboratory, China's space station is designed and equipped with a group of scientific research facilities that meet international advanced standards," said Gu Yidong, the chief expert of space science for China's manned space program.
China's space station operating stably, demonstrating significant efficacy: report
