Stellantis on Tuesday announced it will no longer participate in the CES technology show in Las Vegas early next year as planned, saying it needs to focus on business right now due to the United Auto Workers union's ongoing strike against the automaker in the U.S.
The multinational firm, which owns more than a dozen vehicle brands including Dodge, Chrysler and Jeep, announced in a press release that it was canceling its display and presentations that had been set to take place at the world's largest tech show in January.
Stellantis said that "with a focus on preserving business fundamentals in the wake of ongoing UAW negotiations," it is backing out of the conference "as part of the contingency plan implemented since the beginning" of the strike.
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The Amsterdam-based company said it is currently "executing comprehensive countermeasures to mitigate financial impacts and preserve capital," and "[i]n light of the current status of negotiations in the United States, preserving business fundamentals and therefore protecting the future of the company is a top priority of Stellantis leadership."
The UAW launched its simultaneous but limited strike against Stellantis, Ford and General Motors on Sept. 15, starting with shutting down work at one assembly plant at each of the manufacturers. The union has incrementally expanded the strike to other facilities across all three, and has so far shut down six assembly plants and 38 parts depots.
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More than a month into the strike, the automakers — known as Detroit's Big Three — have collectively lost $3.45 billion due to the action, according to the latest estimates from Michigan consulting firm Anderson Economic Group.
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On Monday, Ford Executive Chair Bill Ford warned that if the strike is prolonged much further, it threatens the entire auto manufacturing industry in the U.S.
