Stellantis CEO ready to compete head-on with Chinese EVs [Video]

MILAN, Metropolitan City of Milan — Stellantis CEO Carlos Tavares expressed dissatisfaction at the operation of some U.S. plants on Thursday, and took responsibility for not reacting quickly enough to address that issue, the problem of inventory backup, and tackling a “suboptimal” marketing strategy.

Tavares said the three issues, which hit as the company struggles with lower shipments and revenues, were not tackled in a timely fashion out of arrogance.

“When I am saying we were arrogant, I’m talking about myself, nobody else. I’m talking about the fact that I should have acted immediately, recognizing that the convergence of those three problems was there, and we had to set up a task force to address them,’’ Tavares told an investor conference in Auburn Hills, Mich.

“If you have a marketing strategy that is suboptimal, at the moment when your inventory grows and your …