MILAN (Reuters) -Stellantis' chief Carlos Tavares will address an Italian parliamentary committee next week on the prospects for the carmaker's production in Italy, the company said on Tuesday, after it warned about poor demand for electric vehicles.

Stellantis will extend the suspension of production of its Fiat 500 electric city car until Nov. 1 due to poor demand, the automaker said on Tuesday. The car is made at Stellantis' historic Mirafiori plant in Turin,

Stellantis N.V. ($FR:STLAP) ($STLA) announced that it will continue to halt the production of electric Fiat 500 amid weak demand for EVs (electric

Shares in Chrysler parent Stellantis plunged almost 14% in Milan Monday after the Italian-American carmaker slashed its forecasts for full-year profitability and cash flow, citing weaker global sales and increased competition from Chinese rivals.

Luxury carmaker Aston Martin's share price sank more than 20% after it said profits will be lower than expected this year. The company, famed for its links to fictional superspy James Bond, has been hit by supply chain issues and falling sales in China.

Shares in Jeep-maker Stellantis and Britain's Aston Martin tumbled on Monday after both companies joined European rivals in cutting their profit forecasts.