Carmaker Stellantis says 1Q revenues rose, low Russia risk

MILAN (AP) — Carmaker Stellantis on Thursday reported higher first-quarter revenues despite lower deliveries, with no significant impact from the closure of its Russian plant due to sanctions. Stellantis is the world’s fourth-largest car company, formed last year from the merger of PSA Peugeot and Fiat Chrysler Automobiles. Chief Financial Officer Richard Palmer said the impact of the Russia plant closure last month was minimal both in terms of commercial sales and supply chain exposure. Stellantis produces vehicles under the Opel and Peugeot brands at the plant, which is co-owned by Japanese carmaker Mitsubishi.