Stellantis Stock Drops After Company Pauses Leapmotor T03 EV Production In Poland: Retail Sentiment Dips

Shares of Chrysler parent Stellantis NV (STLA) traded over 2% lower on Tuesday morning following reports that the company stopped production of its Chinese partner Leapmotor's T03 small electric car at its Tychy plant in Poland.

Reuters reported that the company is no longer assembling the T03 model in Poland since March 30. Meanwhile, the company told the news agency that it is assessing alternate production options.

The firm did not provide reasons for the production stop. Last year, it also scrapped plans to build the Leapmotors B10 electric crossover in Poland.

Leapmotor International is a joint venture between Leapmotor and Stellantis aimed at facilitating the sales and production of Leapmotor vehicles in markets outside China, including Europe.

Separately, Leapmotor on Tuesday announced that its new C10 REEV (Range Extender Electric Vehicle) will arrive at European dealerships starting mid-April. The C10 model achieved deliveries of 12,000 units in China last month.

On Stocktwits, retail sentiment around Stellantis fell from ‘bullish’ to ‘neutral’ territory, accompanied by a 2% drop in message volume over the last 24 hours.

Last week, Citi lowered its price target on Stellantis to €11 from €12 while keeping a ‘Neutral’ rating on the shares.

The stock is also burdened by the Trump administration's imposition of 25% tariffs on vehicles imported into the U.S., which prompted the company to temporarily suspend operations at assembly plants in Mexico and Canada and lay off hundreds of workers at its facilities in the U.S. last week.  

Stellantis shares are down by nearly 29% this year and over 66% in the past 12 months.

Also See: CVS Health Appoints New CFO, Chief Medical Officer: Retail Sentiment Soars

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