Stellantis sells Italian VM Motori engine making unit, Reuters reports

Carmaker Stellantis (STLA) agreed on Wednesday to sell its Italian VM Motori engine making unit to a group of Italian investors who also control engine part maker Marval, Reuters’ Giulio Piovaccari reports. The transaction, for which no financial details were provided, is part of a wider Stellantis effort to reorganize its operations as the auto industry moves towards electrification, while contracting market demand in Europe reduces the need of traditional petrol engines, the author notes.