President Donald Trump has announced a proposal to weaken vehicle mileage rules for the auto industry.

Stellantis' shares have dropped 10% after the world's fourth-largest carmaker posted modest third-quarter gains and warned about possible future charges.

Stellantis plans to invest $13 billion over the next four years to expand its manufacturing capacity in the United States.

Stellantis is forecasting that U.S. tariffs would cost the carmaker $1.7 billion this year.

Stellantis, the world’s fourth-largest carmaker, named Italian auto executive Antonio Filosa as its new chief executive officer, replacing Carlos Tavares, who resigned under pressure last year.

Automaker Stellantis is temporarily halting production at a plant in Canada and a plant in Mexico shortly after President Donald Trump announced a 25% tariff on imported vehicles.