Stellantis is discontinuing its plug-in hybrid electric Jeep SUVs and Chrysler minivan due to decreased EV sales, quality concerns, and weakened fuel economy standards. The decision is a shift from the company’s previous focus on PHEV models. The cancellation also follows a recall of the Jeep SUVs for fire risk, prompting a reevaluation of the product portfolio. Jeep plans to focus on more competitive electrified solutions moving forward.

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1. The U.S. economy added 266,000 jobs in April, falling short of expectations for 1 million jobs.
2. The unemployment rate rose slightly to 6.1% as more people entered the labor force.
3. The stock market reacted positively to the news, with the S&P 500 and Dow Jones reaching new record highs.
4. The leisure and hospitality sector saw the biggest job gains, while manufacturing employment declined.: Stellantis scraps Jeep, Chrysler PHEVs amid EV slowdown, recall