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☆ Tesla has a big competitor. And it is China’s BYD
▼ + stars: | 2024-04-03 | by ( Rosa Deacostanoya | Rosa De Acosta | ) edition.cnn.com time to read: +4 min

In 2023, Tesla sold around 230,000 more cars than BYD. That drop was big enough for Tesla, which sold 386,810 BEVs in the same period, to retake its former position despite posting plunging sales. Both Tesla and BYD are expanding beyond their home markets and investing in factories abroad. BYD sold about 3 million electric cars, including hybrids, in 2023 globally. By comparison, Tesla, which does not sell hybrids, delivered a total of 1.8 million vehicles worldwide last year, which was about 19% of the global market for BEVs.

Persons: Hong Kong CNN —, Wang Chuanfu, It’s, Murthy Grandhi, BYD, Tesla Organizations: Hong Kong CNN, Tesla, Toyota, French PSA Group, Fiat Chrysler Automobiles, Chrysler, Maserati, Peugeot, BMW, Ford, Benz, Ferrari, Yuan, Rho, BEVs Locations: China, Hong Kong, Shenzhen, London, United States, American, Shanghai, California, Canada, European

☆ This tiny EV is the most ridiculous 'car' I've ever driven — but it's also a blast
▼ + stars: | 2024-03-10 | by ( Chris Johnston | ) www.businessinsider.com time to read: +1 min

The Ami is most ridiculous "car" I've ever driven — but it turns heads and is a lot of fun too. I thought I knew what to expect, but it wasn't until the "car" was driven off the trailer that I realized I'd taken custody of a large lawnmower. A large electric lawnmower. The Ami (French for "friend") also looked like it'd been washed in an army surplus cycle. Appropriately enough I almost made a new friend before I'd even parked, as a passer-by asked if I'd just bought it.

Persons: Ami, —, Ram, Romeo —, I'd Organizations: Service, Dodge, Peugeot Locations: London

Only 5.7% of the 1.3 million eligible voters cast ballots at the 39 voting stations around the city, the newspaper Le Monde said. Demur said heavier cars make congestion “even more complicated” and that ”one must consider the ecology, the parking issues." It’s about freedom.”The vote follows another City Hall consultation last year on whether to ban for-hire electric scooters. In a country of car-lovers, home to Renault, Citroen and Peugeot, Hidalgo has worked for years to make Paris less car-friendly. It’s become a central Paris haven for cyclists, runners, families and romantics since Hidalgo closed it to motor traffic in 2016.

Persons: Anne Hidalgo, Le, Hidalgo, “, Demur, Hall's, Leicester Organizations: PARIS, Socialist, Le Monde, Renault, Citroen, Peugeot, Paralympic Games Locations: Paris ’, Paris, It’s, Hidalgo, Le Pecq, France

☆ EU October car sales up 14.6%, EV sales jump more than 36%
▼ + stars: | 2023-11-21 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

REUTERS/Abdul Saboor/File Photo Acquire Licensing RightsLONDON, Nov 21 (Reuters) - New car sales in the European Union rose 14.6% in October, boosted in part by a big jump in sales of fully electric cars, while hybrid electric vehicles accounted for nearly three of every 10 vehicles sold in the economic bloc. Sales of fully electric cars rose 36.3% from a year earlier and full hybrid sales were up nearly 39% as the EU recorded its 15th consecutive month of sales growth, the European Automobile Manufacturers Association (ACEA) said on Tuesday. The ACEA said fully electric cars made up 14.2% of sales in October, overtaking sales of diesel cars for the third time. For the ten months through October, sales of fully electric cars were up 53.1%. Reuters GraphicsTesla's (TSLA.O) sales rose nearly 150%, accounting for nearly 12% of fully electric car sales in the EU.

Persons: Abdul Saboor, Nick Carey, Matthew Lewis Organizations: Citroen, REUTERS, Union, EU, European Automobile Manufacturers Association, Reuters Graphics, Volkswagen, Europe's, Renault, European Free Trade Association, Thomson Locations: Meudon, Paris, France, EU, Britain, London

☆ UAW strike cost Stellantis $3 billion in lost revenue
▼ + stars: | 2023-10-31 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —Historic strikes by autoworkers in North America have cost Stellantis €3 billion ($3.2 billion) in lost revenue, the maker of Chrysler and Jeep said Tuesday. Earlier this month, General Motors (GM) said walkouts by its workers had cost the company $200 million in their first two weeks. Stellantis (STLA) still reported better-than-expected revenue for the July-September period, up 7% on the same quarter in 2022 at €45.1 billion ($48 billion). The UAW has hailed the deal that ended the prolonged walkouts at Stellantis as a major victory. Separately, Stellantis reached an agreement with Canadian union Unifor Monday, hours after a strike began there.

Persons: Stellantis Organizations: London CNN —, Chrysler, Jeep, United Auto Workers union, UAW, General Motors, €, Electric Locations: North America, Stellantis, Illinois, Milan, —

☆ Japanese carmaker Mitsubishi ending production in China, world's biggest car market
▼ + stars: | 2023-10-25 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Mitsubishi Motors will stop producing vehicles in China, in the latest sign of retreat by foreign automakers in the world’s biggest car market. Following weeks of speculation, the Japanese carmaker confirmed Tuesday that it would wind down local manufacturing and exit a long-running joint venture in mainland China. The move came days after Stellantis, home to brands such as Jeep and Chrysler, moved to withdraw further from China, too. Stellantis continues to sell imported vehicles in China through dealerships. The Japanese firm will pour up to €200 million ($212 million) into Ampere, helping it push further into the European market.

Persons: ” Mitsubishi, “, Stellantis, Dongfeng, Ampere Organizations: Hong Kong CNN — Mitsubishi Motors, Mitsubishi, Guangzhou Automobile Group Company, GAC, Chrysler, Dongfeng Motor, Peugeot, Renault Locations: China, Hong Kong, Wuhan, Xiangyang, French

That adds to tech-related tensions between the West and China, which is one of Europe’s biggest trading partners and the world’s biggest auto market. Chinese EV makers are drawn to Europe because auto import tariffs are just 10% versus 27.5% in the U.S., independent auto analyst Matthias Schmidt said. MG — owned by SAIC Motor, China’s biggest automaker — is the largest Chinese EV player in Europe. One reason Chinese companies can offer high-quality cars at affordable prices stems from the rules to enter the Chinese market. Chinese EV makers, meanwhile, are trying to stand out in a crowded field.

Persons: Laima Springe, Janssen, “, ” Springe, I’m, ”, Matthias Schmidt, John Kirkwood, —, Kirkwood, Warren Buffett, Ursula von der Leyen, Alfa, China’s EVs, Carlos Tavares, we’re, Alexander Klose, ” Klose, Schmidt, Justin Nicholls, Nicholls Organizations: Volvo, Nissan, Skoda, Union, EV, Volkswagen Passat, Kia, MG, SAIC Motor, China’s, —, Lotus, Chinese Commerce Ministry, EU, World Trade Organization, Tesla’s, Peugeot, Citroen, Alfa Romeo, Fiat, Global, Wall Motors Locations: Copenhagen, Denmark, Europe, China, West, U.S, British, Western, France, Germany, Beijing, Shenyang, Shanghai, Israel

☆ Citroen targets low-cost Chinese EVs with electric C3 for 23,300 euros
▼ + stars: | 2023-10-17 | by ( Gilles Guillaume | ) www.reuters.com time to read: +3 min

[1/5] The new electric Citroen e-C3 SUV is unveiled during a presentation to the media in Meudon near Paris, France, October 17, 2023. It is the same size as the current C3 city car, but less rounded and slightly taller. "This is the most important launch for the Citroen brand in at least 10 years," Citroen General Manager Thierry Koskas told reporters. A European electric car at 23,000 euros? The brand plans a cheaper electric C3 at the beginning of 2025 – starting at 20,000 euros – with a reduced range of 200 km, Koskas said.

Persons: Abdul Saboor, Thierry Koskas, Citroen's Koskas, ”, Koskas, Citroen's, Gilles Guillaume, Nick Carey Organizations: Citroen, REUTERS, Thomson Locations: Meudon, Paris, France, Europe, MEUDON, Slovakia, India, China

Stellantis and SDI said their second joint battery factory in Indiana is scheduled to open in 2027, and could employ 1,400 workers. The two companies would have a combined annual production capacity of 67 gigawatt hours (GWh) at the Indiana production site, Samsung SDI said in a statement. The first joint plant is set to start production in the first quarter of 2025. For Stellantis, a second U.S. battery plant would help the company comply with U.S. Inflation Reduction Act domestic content rules that govern federal EV subsidies. Last month, Samsung SDI said it plans to invest 2.7 trillion won ($2.01 billion) to build its second joint battery plant with Stellantis.

Persons: Shawn Fain, Fain, Stellantis, Ram, Alfa Romeo, 1,340.6500, Heekyong Yang, Sharon Singleton Organizations: South Korea's Samsung SDI Co, United Auto Workers, Detroit Three, SDI, Samsung SDI, Chrysler, Jeep, UAW, General Motors, Ford, EV, GM, U.S, Peugeot, Citroen, Opel, Thomson Locations: SEOUL, South, KS, Kokomo , IN, Indiana, Toledo , Ohio, United States, Kokomo, Lordstown , Ohio, U.S, Europe

☆ Swedish startup Luvly is making flat-pack electric microcars
▼ + stars: | 2023-10-09 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +8 min

In addition to the novel flat-pack delivery, Luvly is hoping that the electric car’s other features – including its super-light frame and swappable batteries – will make sustainable transport more affordable, says Håkan Lutz, Luvly CEO and co-founder. LuvlyA “Luvly” solutionLuvly O is a “light urban vehicle,” also known as a microcar. Luvly plans to license its patented light vehicle flat-pack framework to other car manufacturers to build their own branded versions. Resource-light and requiring less energy to manufacture than electric passenger cars, light electric vehicles (LEVs) such as microcars could make a serious dent in transport carbon emissions, says Brost. This is where Luvly hopes to add value: inspiring more car manufacturers to develop light urban vehicles with its patented framework.

Persons: it’s, Håkan Lutz, Lutz, Luvly, ”, —, “, Luvly isn’t, Citroën, Ami, Mascha Brost, Brost, ” Brost, It’s Organizations: CNN, IKEA, BMW, Formula, Opel, Fiat, Micro, German Aerospace Center, German Aerospace, Institute for Highway, US, Peachtree Locations: Swedish, Stockholm, €, Italian, Swiss, Germany, Peachtree City, Georgia

☆ Trump is attacking electric vehicles. Automakers already bet their future on them
▼ + stars: | 2023-09-28 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Legacy automakers are pivoting to electric vehicles in response to expected strong consumer demand, tougher environmental regulations both from US states and foreign countries, and a push from Wall Street. Electric vehicles have outpaced growth of traditional internal combustion engine (ICE) cars in recent years. But automakers bucked Trump and agreed to meet tougher standards set by California rather than the Trump administration’s rules. At a Detroit battery plant Wednesday, Trump said America didn’t need what the factory produced“This plant, we just walked through this plant and the electric vehicles are gonna put [automakers] out of business,” Trump said. Trump’s proposals could undermine US companies’ EV investments and hand over control of an increasingly EV future to foreign manufacturers.

Persons: Donald Trump, Donald Trump’s, “ don’t, Trump, ’, ”, Barry Rabe, EVs, Brian Kemp, Ford, Rabe, Biden’s, Tesla, Jon McNeill, McNeill, ” McNeill, EVs Trump, bucked Trump, ” Trump, “, Biden, Rishi Sunak, Lisa Brankin Organizations: New, New York CNN, Detroit, Cox Automotive, Biden, Environmental Protection Agency, University of Michigan, Hyundai, Kia, EV upstarts, Republican Gov, Environmental Defense Fund, Nissan, Mercedes, Benz, Wall, Investors, ICE, General Motors, GM, Biden’s EV, Legacy, DVx Ventures, Tesla, Obama, Trump, America, ” Ford, Fiat, Peugeot Locations: New York, Georgia, South Carolina, Alabama, United States, California, Detroit, Michigan, China

☆ The UK is delaying the switch to electric cars. Automakers are furious
▼ + stars: | 2023-09-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

A relaxation of 2030 would undermine all three,” Ford (F) UK chair Lisa Brankin said in a statement. “We and the whole automotive industry [need] clarity on the [EV] topic,” the German carmaker said in a statement shared with CNN. ‘Confusion’ will delay switch to EVsThe UK auto industry has been clawing its way back from rock bottom after car manufacturing hit a 66-year low in 2022. Reducing emissions from road transport “is the only way that you will achieve net zero,” Hawes told the BBC. The government’s own independent adviser on climate policy, the Climate Change Committee shares that view.

Persons: carmakers, Rishi Sunak, Sunak, “, ”, Sunak’s, ” Ford, Lisa Brankin, Brankin, carmaker, Mike Hawes, ” Hawes, Jobs, Sadiq Khan, ” Sunak, “ We’re, Alok Sharma, Simon Clarke, EVs, — Gemma Blundell, Doyle, Anna Cooban, Laura Paddison, Rob Picheta Organizations: London CNN, BMW, Oxford, Swindon, CNN, Fiat, Peugeot, Fiat Chrysler, France’s, India’s Tata Group, Society of Motor Manufacturers, Traders, BBC, Conservative Party, Labour Party’s London, Conservative Locations: Germany, France, Spain, Italy, Canada, Sweden, Ellesmere Port, Liverpool, Britain, London, Glasgow

☆ A Ukrainian group says it's wreaking havoc on Russian occupiers, from directing missile strikes to trolling them with the national anthem
▼ + stars: | 2023-08-31 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

A secretive Ukrainian group detailed its acts of sabotage against Russian occupiers in Ukraine. The National Resistance Center aims to inflict psychological pressure on Russian troops. The group, the National Resistance Center, is run by Ukraine's special forces. Per Ostap, NRC members tipped off the Ukrainian military about the gathering, enabling them to launch an attack with the US-provided HIMARS missile system. The NRC spokesperson said their aim is to inflict psychological pressure on the Russian military.

Persons: Ostap Organizations: National Resistance Center, Service, Kyiv Post, NRC, Nazi, Allies, CNN Locations: Ukrainian, Ukraine, Russia, Wall, Silicon, Russian, Kyiv

The loss was a result of the closure of its Russian operations in the wake of Moscow's invasion of Ukraine. The previous margin record was set in the second-half of 2017, when it stood at 7%. Renault aims to reach an 8% margin by 2025 and 10% by 2030. The French carmaker on Wednesday agreed with Nissan (7201.T) on a new structure for their decades-old partnership. The Japanese group will invest up to $663 million in Renault's planned electric unit Ampere, while the French carmaker will reduce its Nissan stake to put their relationship on equal footing.

Persons: Luca de Meo, Victor Goury, Gilles Guillaume, Kirsti Knolle, Sharon Singleton Organizations: Renault, TECH Electric, Peugeot, Citroen, Nissan, Volkswagen, Thomson Locations: Dacia, Ukraine, French

Delivering affordable electric vehicles (EVs) has become a priority for car makers worldwide as the shift to cleaner driving has come with high prices, due largely to battery costs. In 2022, Chinese car makers had a 9% share of Europe's EV market, nearly double the previous year's figure, according to forecasts by consultancy Inovev. Tavares said Western car makers needed to use "the same weapons" as their Chinese rivals, sourcing parts in lower cost countries and striking partnerships with battery suppliers that offer the best combination of energy, cost and weight. Once-dominant Western automakers are also striving to regain ground in China itself, the world's largest car market, after losing share to local manufacturers. Mercedes-Benz (MBGn.DE) said on Thursday it was sticking to its strategy and would not engage in a price war to "buy" market share in China.

Persons: France's, Thierry Pieton, Luca de Meo, Tesla, Carlos Tavares, Tavares, Mercedes, Ola Kaellenius, Kaellenius, Victoria Waldersee, Silvia Aloisi, Mark Potter Organizations: Western, France's Renault, Finance, Renault, SAIC, Inovev, Jato, Tesla, Peugeot, Fiat, Benz, Mercedes, Thomson Locations: Europe, U.S, Western, China, Berlin

☆ Stellantis, Samsung SDI set plan to build second US battery plant
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +3 min

Stellantis said the second U.S. battery plant will be the sixth to support the company's goals. "The second plant will accelerate our market penetration into the U.S.," Samsung SDI CEO Yoon-ho Choi said in the statement. In May 2022, Stellantis and Samsung SDI said they would invest more than $2.5 billion to build their first joint battery plant, to open in the first quarter of 2025 in Kokomo, Indiana. Stellantis is also building a joint-venture battery plant in Windsor, Ontario, in Canada with South Korea's LG Energy Solution (373220.KS). Samsung SDI shares extended gains after Monday's announcement, rising to as much as 4.1% versus a 0.8% increase in the benchmark KOSPI (.KS11).

Persons: Carlos Tavares, Stellantis, Ram, Alfa Romeo, Yoon, Choi, Ben Klayman, Heekyong Yang, Christopher Cushing Organizations: Samsung SDI, North, Peugeot, Jeep, Citroen, Opel, Samsung, South Korea's LG Energy, General Motors, United Auto Workers union, Stellantis, GM, Ford, Thomson Locations: Korean, U.S, Europe, Kokomo , Indiana, Indiana, Windsor , Ontario, Canada, Detroit, Seoul

☆ New EV battery plant fuels labor tensions as UAW strike looms deadline
▼ + stars: | 2023-07-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —Stellantis and Samsung SDI announced plans Monday for another EV battery plant joint venture to open in 2027. Four major EV battery plants have opened in recent years and 19 more are planned with Monday’s announcement, according to the UAW. An aerial view of the Stellantis and Samsung Battery Plant construction site in Kokomo, Indiana. Those talks will have to be focused on the wages and benefits for the current UAW members. By comparison, UAW members with top seniority at a Big Three factory get $32.32 an hour, plus an annual bonus and profit sharing.

Persons: New York CNN — Stellantis, Shawn Fain, Stellantis, BEV, Kent Nishimura, ”, it’s, Fain, He’s, “, ” Stellantis Organizations: New, New York CNN, Samsung SDI, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, General Motors, Ford, UAW, don’t, GM, Fiat Chrysler, PSA Group, Peugeot, Opel, Vauxhall, Samsung Battery, Los Angeles Times, Samsung, Big, LG, SK, CNN, ICE Locations: New York, United States, Europe, Kokomo , Indiana, Warren Ohio, Korean, Kokomo

☆ Stellantis and Samsung SDI set plan to build second U.S. battery plant
▼ + stars: | 2023-07-24 | by ( ) www.cnbc.com time to read: +1 min

French-Italian automaker Stellantis and South Korean battery maker Samsung SDI on Monday said they plan to open a second joint-venture plant in the U.S. to build electric vehicle batteries, with a target to start production in 2027. The companies said the transaction still needs to be finalized, and where the plant will be located is under review. Also, how much will be invested at the site and how many people it will employ will be announced later. In 2021, Stellantis said it planned to pump $35 billion into EV production and software globally through 2025. Stellantis said the second U.S. battery plant will be the sixth to support the company's goals.

Persons: Carlos Tavares, Stellantis, Ram, Alfa Romeo Organizations: FCA, Technology Center, Stellantis, Samsung SDI, North, Peugeot, Jeep, Citroen, Opel Locations: Stellantis, Auburn Hills , Michigan, Korean, U.S, Europe

☆ Vingegaard marches towards Tour de France title as Pogacar explodes
▼ + stars: | 2023-07-19 | by ( Julien Pretot | ) www.reuters.com time to read: +3 min

[1/3] Cycling - Tour de France - Stage 17 - Saint-Gervais Mont Blanc to Courchevel - France - July 19, 2023 AG2R Citroen Team's Felix Gall celebrates as he crosses the finish line to win stage 17 REUTERS/Stephane MaheCOURCHEVEL, France, July 19 (Reuters) - Jonas Vingegaard made a giant stride towards a second consecutive Tour de France title when crash-hit rival Tadej Pogacar cracked in the toughest stage of the race on Wednesday. What was a 10-second gap two days ago is now an unbridgeable 7:35 gap after Pogacar huffed and puffed over the line more than five minutes behind Jumbo-Visma leader Vingegaard. "I'm relieved to have more than seven minutes but we're not in Paris yet, there's some tricky stages left, still," said Vingegaard. Vingegaard slowed down and zig-zagged through to continue his demolition work until the line, which he crossed with a big smile on his face. Also why do they let cars pass us when the gap between the groups of riders is just 15 seconds?"

Persons: Gervais Mont, Team's Felix Gall, Stephane Mahe COURCHEVEL, Jonas Vingegaard, Tadej Pogacar, Vingegaard, la, Felix Gall of Austria, Saint Gervais, I'm, Pogacar, Benoot, Marc Soler, Griescha Niermann, Jonas, Thibaut Pinot, Julien Pretot, David Goodman, Mike Harrison Organizations: de, de France, UAE Emirates, Thomson Locations: Gervais Mont Blanc, Courchevel, France, Saint, Paris

☆ Stellantis unveils new platform underpinning move to electric vehicles
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

It has plans to move all its future products onto four new BEV platforms, STLA Small, Medium, Large and Frame, starting with STLA Medium from Europe this year. The STLA Medium platform will support several propulsion configurations; in full electric configuration it will feature a standard range of over 500 kilometres, which can be raised to up to 700 kilometres with a 'performance pack'. "BEV is the focus of the design of this platform," Tavares said. Stellantis said it currently offered 26 models in the market segments which will be served by the STLA Medium platform. Aimed at the mid-sized cars, the STLA Medium platform will be the base for up to two million Stellantis vehicles a year, built in several plants across the world, the Italian-French group said in a statement.

Persons: BEV, Carlos Tavares, Stellantis, Tavares, Ram, Alfa Romeo, Giulio Piovaccari, Keith Weir Organizations: MILAN, Wednesday, Fiat Chrysler, Peugeot, PSA, Citroen, Opel, Thomson Locations: Europe, France, Italy, Germany, North America, Italian

☆ These global and U.S. stocks are set to soar further after a strong first half, analysts say
▼ + stars: | 2023-07-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Among global stocks, Japan was the top performer, with shares up over 16% year-to-date at the mid-year, according to data compiled by Julius Baer, while European stocks gained 7.47%. All of the stocks have a buy rating from at least 60% of analysts covering them. They are also well-loved by analysts, with a more-than 70% buy rating and over 30% potential upside. Baidu also appears on CNBC Pro's screen, with 32% potential upside and a 74% buy rating. Super Hi, the international operator of the wildly popular Chinese hotpot chain Haidilao, also has among the highest potential upside at 51%.

Persons: Julius Baer, Buffett, Morgan Stanley, bullish Organizations: CNBC Pro, Chrysler, Baidu, CNBC, Warner Bros Discovery, MGM Resorts, Caesars Entertainment Locations: Japan, China, Swiss

☆ Mix of calm and concern as cycling's Tour heads into riot-hit France
▼ + stars: | 2023-07-02 | by ( Julien Pretot | ) www.reuters.com time to read: +3 min

After a start in Bilbao, Spain, the Tour heads to France on Monday with visits to Bayonne, Dax, Pau and Bordeaux during the week. Foreign team members have confessed not knowing much about the situation in France, arguing they are in a 'bubble' on the Tour de France. Tour de France organisers say they are ready to adjust to any situation. "I don't really have any comment on it, that's one for the authorities who are working very hard," Rod Ellingworth, the racing director of the Ineos-Grenadiers team, told Reuters. "The organisers did not even mention it at the team meeting (before the start of the race).

Persons: Prudhomme, Rod Ellingworth, Philippe Mauduit, Adrien Petit, Julien Pretot, Christian Radnedge Organizations: SEBASTIAN, Tour de, Tour de France, de France, State, Grenadiers, Reuters, Citroen, Thomson Locations: Spain, Bilbao, France, Bayonne, Dax, Pau, Bordeaux, North

☆ Stellantis to reveal its first Europe-made affordable electric vehicle
▼ + stars: | 2023-06-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Stellantis, the third-largest carmaker in the world by revenue, will reveal its first European-made, affordable electric car in mid-October. The new Citroën e-C3 model will have a 320-kilometre range and a 57-minute "fast charge" capability, Citroën says. The company aims to have a total of 47 battery electric vehicles on the market by the end of 2024, the May press release said. Sales of Stellantis' battery electric vehicles were up 22% year-on-year in the first quarter of 2023, the company reported. Shares of Stellantis were up 0.2% when markets opened at 8.00 a.m. London time Friday.

Persons: Stellantis, Citroën Locations: London

☆ Stellantis to unveil Citroën e-C3, first affordable European-made EV
▼ + stars: | 2023-06-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

PARIS, June 15 (Reuters) - The world's No.3 carmaker Stellantis will unveil its first European-made affordable electric car in mid-October, the new Citroën e-C3, as it gears up to counter the arrival of lower-cost Chinese brands in the European market. Electric vehicles (EVs) are more expensive than their fossil-fuel counterparts and European carmakers plan cheaper models encouraged by government subsidies. That EV subsidy should be unveiled in October for cars to be delivered in 2024, a government source told Reuters. The need for more affordable European models has been driven by Chinese EV brands, which are seen as a threat to European carmakers as they can offer cheaper models. Built on Stellantis' "smart car" architecture introduced in India and Latin America, the vehicle will be assembled in Slovakia and will launch early in 2024, Koskas said.

Persons: Thierry Koskas, Koskas, Gilles Guillaume, Nick Carey, Sharon Singleton Organizations: Reuters, EV, Renault Dacia Spring, Renault, Citroen, Thomson Locations: France, Europe, India, Latin America, Slovakia, China

☆ Stellantis: Brexit deal must change or UK car factories will close
▼ + stars: | 2023-05-17 | by ( ) edition.cnn.com time to read: +3 min

British car factories will be forced to close with the loss of thousands of jobs if the government does not renegotiate its Brexit trade deal immediately, automaker Stellantis warned on Wednesday. “If the cost of EV manufacturing in the UK becomes uncompetitive and unsustainable, operations will close,” Stellantis said in a submission to a House of Commons committee examining the prospects for Britain’s electric vehicle industry. It’s 800,000 jobs in the UK, which is basically those jobs associated with the car industry,” said Palmer, who is also chairman of European battery manufacturer InoBat. Britain has drawn electric vehicle investment from Nissan (NSANF) and Ford (F), while other big players are still weighing up where to invest. Stellantis had announced a 100 million pound ($126 million) electric vehicle investment in its Ellesmere Port site in 2021.

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