Stellantis CEO Says Tax Hikes in France Will Hurt Investment

Stellantis NV Chief Executive Officer Carlos Tavares said plans by France to raise corporate taxes will hurt investment.

“We are doing a short-term choice that will penalize the medium term,” Tavares said during an interview on LCI TV interview on Sunday.

The planned corporate tax hike will be in the “double digit” millions of euros for the automaker, he added, declining to give a specific number. Stellantis will be able to pay the tax increase, he said.

Carlos Tavares

Photographer: Oliver Bunic/Bloomberg

France last week unveiled a draft budget that includes higher taxes on businesses and the wealthy in an effort to trim its ...