Ohio Senate Candidate Pressures Stellantis for Jeep, Ram, Dodge, and Chrysler's Return to U.S. Control

Investing.com -- Ohio Senator Bernie Moreno, who will take his seat in the U.S. Senate in January, is fighting for a significant change in automotive policy. Moreno is pushing for the divestment of Stellantis NV's Jeep, Ram, Dodge, and Chrysler brands. According to the senator, these brands have been mismanaged by European interests and should return to American ownership.

Moreno expressed his views while traveling in a Jeep Grand Wagoneer SUV in his state on Wednesday. He specifically voiced concerns about the management of these brands under John Elkann, a member of the Italian Agnelli family, who was instrumental in the formation of Stellantis in early 2021.

Stellantis was created through the merger of PSA Group and Fiat Chrysler. This merger was organized by Elkann and the French Peugeot family. Elkann, serving as the company's chairman, is currently in search of a new CEO following the departure of former CEO Carlos Tavares earlier this month. Tavares's tenure was marked by strained relations with U.S. dealers, factory workers, and executives.

In response to Moreno's comments, Stellantis issued a statement to Bloomberg News emphasizing the importance of American brands to the company’s strategy. The company noted that Chrysler, Dodge, Jeep, and Ram, which have nearly a century of history in the U.S., are vital to Stellantis's future plans. Stellantis affirmed its commitment to continue building itself as a leading automotive company in collaboration with its partners and stakeholders.