Jeep parent company Stellantis blames EV costs for upcoming layoffs

Jeep parent company Stellantis on Friday said it would indefinitely shut down a manufacturing plant in Illinois and lay off approximately 1,350 employees early next year. The facility - located in Belvidere, a city 75 miles northwest of downtown Chicago - is responsible for producing the internal combustion engine Jeep Cherokee crossover. In a statement the automaker shared with Reuters , Stellantis blamed the cost of electrifying its cars for the move. "[The automotive industry] has been advers...