CNBC: Canada Issues Default Notice to Stellantis, Threatens Legal Action If Unresolved in 30 Days
According to CNBC, Canadian Industry Minister Mélanie Joly stated that the government has issued a formal notice of default to Stellantis over its proposed sale of the Brampton assembly plant in Ontario, giving the automaker 30 days to address the issue or face legal action. The government contends that the sale plan violates commitments under its federal funding agreement. Stellantis had previously abandoned plans to produce the Jeep Compass at the plant, shifting future production to Illinois in the United States, and subsequently announced its intention to sell the facility to Roshel. This finding of default reflects the Canadian government's position and does not constitute a court ruling.
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