Italian Deputy Premier Matteo Salvini has blamed Stellantis NV’s ownership structure, rather than former CEO Carlos Tavares, for the carmaker’s ongoing challenges, Bloomberg reports.
Speaking on Tuesday, Salvini criticized the multinational automotive giant for benefiting from Italian public funds while investing abroad, calling it “one of the worst examples of how not to do entrepreneurship — with public money.”
Stellantis, formed through the 2021 merger of Fiat Chrysler and France’s PSA Group, saw Tavares step down on Sunday amid financial difficulties. Salvini argued that the company’s issues stem from its ownership, which he claims has distanced itself from its Italian roots.
“It’s an ownership that has little that is Italian at this point,” he said.
Salvini emphasized that public investments had not translated into economic benefits for Italy.
The deputy premier’s remarks contrast with the more measured stance of Prime Minister Giorgia Meloni, who expressed concern for the carmaker’s employees, stating her priority is to safeguard jobs. Salvini, who also serves as transport minister, took aim at Stellantis Chairman John Elkann, criticizing his refusal to address Parliament and suggesting Elkann should offer financial restitution given the company’s reliance on public funds over the years.
Salvini’s pointed commentary reflects his broader tendency to adopt a more confrontational tone than Meloni on business and economic matters. His latest remarks follow similar critiques of other corporate dealings, including a recent unsolicited bid by UniCredit SpA for Banco BPM SpA.
