Stellantis reports $4.5 billion cash drain as massive turnaround plan continues

Stellantis, the automotive company that owns Chrysler and Jeep, disclosed a 4 billion euro ($4.5 billion) cash drain during the third quarter as it continues execution of its restructuring initiative. The company achieved third-quarter revenues of 37.6 billion euros, representing a 1% increase compared to the same period the previous year.
Adjusted operating income showed substantial improvement, rising 184% to 256 million euros from 90 million euros year-over-year. The company’s negative ind