However, the company forecast second-quarter revenue and profit below analysts estimates, fanning concerns of a delay in the recovery of automotive chip demand as a softening EV market and excess inventory at customers are expected to hit orders for Onsemi s chips.
"We have hundreds of very different semiconductors in our cars," Maxime Picat, Stellantis chief purchasing and supply chain officer said in a statement. "We have built a comprehensive ecosystem to mitigate the risk that one missing chip can stop our lines."