Chrysler-parent, Stellantis (NYSE:STLA) announced Friday that the automaker will not be participating in this year’s L.A. Auto Show in an effort to reduce costs amidst the ongoing UAW Strike.
The company stated that it would be scrapping its planned displays and presentations at the two events as a component of its strike contingency strategy. The decision came shortly after the automaker announced that it would not be participating in the 2024 CES tech expo in January.
Stellantis had intended to introduce the North American edition of the electric Fiat 500e at the LA show, the company had announced the car's anticipated return to the U.S. during the show’s 2022 event.
In addition, Stellantis will not be at the SEMA show in Las Vegas, which is scheduled to take place from Oct. 31 to Nov. 3.
Stellantis announced Thursday that they would lay off an additional 100 employees from their Toledo Machining Plant due to the ongoing strike at the Toledo Assembly Complex.
Shares of STLA are down 0.71% in afternoon trading on Friday.