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☆ U.S. automakers like GM are rapidly losing ground in China, once an engine for growth
▼ + stars: | 2024-05-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

China was once a profit engine for GM, and its top sales market from 2010 to 2023. GM revealed several vehicles last week in China, including plug-in hybrid versions of its Buick GL8 minivan, a best-seller in China, and the Chevrolet Equinox crossover. "We think clearly that market has shifted and the landscape has shifted … with the capability of the Chinese [automakers]," Barra said. But it has had to aggressively cut prices to compete against Chinese automakers such ay BYD, Nio and others. Stellantis CEO Carlos Tavares earlier this year called Chinese automakers his company's "No.

Persons: Mary Barra, Jeff Kowalsky, we're, Barra, Paul Jacobson, GM wasn't, John Murphy, Michael Dunne, Dunne, Mark Fulthorpe, They'll, they've, Tesla, lockdowns, Elon Musk, Tingshu Wang, Reuters Tesla, Morgan Stanley, Adam Jonas, Musk, Junheng Li, Stellantis, Carlos Tavares, Zhu Jiangming, We've, We're, Ford, John Lawler, Lawler Organizations: General Motors Co, Bloomberg, Getty, General, GM, U.S, Chevrolet, SAIC, GM Pan, Asia Automotive Technology Center, Nurphoto, PSA Groupe, Chrysler, EVs, GM's, Buick, Wuling Motors, Motors, Bank of America Securities, China, Hummer, Durant Guild, America's, Detroit, P Global Mobility, Ford Motor, Tesla, Reuters, EV, Baidu, Warren Capital, Ford, Guangzhou Automobile Group, India & Asia, Lincoln, Lincoln Nautilus Locations: Detroit , Michigan, China, Barra, Beijing, Asia, Shanghai, Russia, India, Thailand, Australia, North America, South Korea, Brazil, Europe, GM's U.S, Qingdao, East China's Shandong, Indonesia, U.S, Nio, Greater China, South America

☆ What I didn’t know about my prostate almost killed me
▼ + stars: | 2024-04-16 | by ( Opinion Ed Manning | ) edition.cnn.com time to read: +8 min

Editor’s Note: Ed Manning is a media executive and prostate cancer survivor. In the blink of a news cycle, prostate cancer was again casually swept aside as among the best cancer to have. As a prostate cancer survivor, I can report from painful experience that those misguided assessments are to men’s health and longevity what ice was to the Titanic. As the American Cancer Society notes:• Prostate cancer is the second leading cause of cancer death in men. A biopsy confirmed somewhat aggressive prostate cancer, a diagnosis which stunned and terrified me.

Persons: Ed Manning, Lloyd Austin, Dr, Martin Luther King Jr’s, Dexter, Simpson, ”, “, it’s Organizations: CNN, Houston, American Cancer Society, PSA, National Cancer Institute Locations: peeing

☆ Here are Friday's biggest analyst calls: Apple, Tesla, Netflix, Marvell, Ollie's, Snowflake, Eli Lilly, Krispy Kreme & more
▼ + stars: | 2024-04-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

"We are raising our YE'24 NFLX target price $65 to a street-high $765 driven primarily by a combo of higher '24 and beyond subscriber/ARPU forecasts." "We are upgrading Ollie's Bargain Outlet to a Buy from a Hold rating while raising our price target to $90 from $80, implying 26% upside from current levels." We cut our price target from $2 to $1, still giving ATUS the highest multiple in Cable as optionality. "We are raising our already Street High $330 YE'24 target price $60 to $390 driven primarily by higher premium and to a lesser extent ad supported ARPU forecasts." Jefferies adds Pepsi to the franchise picks list Jefferies said it sees opportunity internationally for Pepsi and raised its price target to $209 per share from $199.

Persons: Marvell, it's, Bernstein, Mizuho, Wells, Piper Sandler, Krispy, JPMorgan, Eli Lilly, LLY, Stifel, Rosenblatt, Snowflake, Jefferies, underperform KBW, Daiwa, Tesla, KBW, Monness Crespi Hardt Organizations: Netflix, Bank of America, Apple, Amazon Web Services, RBC, Eaton, Piper, JPMorgan, Technologies, Cable, Spotify, BMO, Royal Bank, Pepsi, Fox, Fox News, Digital, Citi, Express, American Express Locations: NY, McDonald's, USA, Toronto, Snowflake, U.S

☆ 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

☆ ‘Ninja,’ Twitch’s biggest streamer, diagnosed with skin cancer
▼ + stars: | 2024-03-27 | by ( Mira Cheng | ) edition.cnn.com time to read: +5 min

CNN —American gamer and Twitch superstar Tyler “Ninja” Blevins revealed he was diagnosed with melanoma, a form of skin cancer. Skin cancer is the most common form of cancer in the United States; 1 in 5 Americans will develop skin cancer in their lifetime, according to the American Academy of Dermatology. Blevins was diagnosed with melanoma, which is a rare type of skin cancer — only about 1% of skin cancer cases — but accounts for a large majority of skin cancer deaths. However, if people do have suspicious skin spots or any other symptoms concerning for skin cancer, they should talk to their primary care doctor or dermatologist. How to perform a skin self-examAn important part of screening for skin cancer is to document moles and other skin spots and to notice changes, the association says.

Persons: Tyler “, ” Blevins, “ I’m, ”, Blevins, biopsied, “, Jessica Blevins, Dr, Sanjay Gupta Organizations: CNN, PSA, World Health Organization, American Academy of Dermatology, US Centers for Disease Control, American Cancer Society, US Preventive Services, Force, CNN Health Locations: American, United States

☆ Opinion: The next time I want to see Timothée Chalamet, I’ll do it from the comfort of my couch
▼ + stars: | 2024-03-23 | by ( Opinion Sara Stewart | ) edition.cnn.com time to read: +6 min

CNN —Last week, I ditched work one day and went to a matinee at a local AMC theater. It was a Timothée Chalamet movie, because statistically of course it was. There are few things this movie nerd loves more than a big, loud sci-fi fantasy epic on an IMAX screen. It’s as if big movie chains are responding to the dire warnings about the death of their industry by deciding they’ll simply force-feed their remaining audience as much monetizable property as possible. Long live the fun movie theater experience, which is totally possible!

Persons: Sara Stewart, Sara Stewart Todd Thompson, you’ve, Denis Villeneuve’s, I’d, Nicole Kidman, ”, Maria Menounos “, they’ll, Will, Paul Atreides, Kidman, Long, CNET’s Joan Solsman, ‘, ’, Bob Cooney, you’re, Adam Aron, guy’s Organizations: CNN, AMC, Warner Bros ., PSA Locations: Pennsylvania, Arrakis, Alamo, Noovie

☆ A 1983 Apple business card signed by Steve Jobs just sold for $181,183
▼ + stars: | 2024-03-23 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

A business card with Steve Jobs' signature sold for $181,183 in an auction on Thursday. A 1983 "Apple Computer," business card signed in black ink by Steve Jobs sold for $181,183 on Thursday, according to RR Auction. The Apple founder's business card sold for $181,183. RR AuctionThe off-white business card was listed as the "extremely rare, perfectly graded Steve Jobs-signed Apple Computer business card from circa 1983." Related storiesRR Auction has previously auctioned 10 Steve Jobs business cards, with only one dating back to 1983.

Persons: Steve Jobs, —, Mike Graff, Steven Jobs, Bobby Livingston, Jobs, Stephen Hawking, Steve Wozniak, Ronald Wayne, Eduardo Cisneros Organizations: Apple, Service, Apple Computer, Macintosh Factory, Pirates, Jobs, Apple Computer Corporation Locations: Caribbean

☆ Chrysler parent Stellantis laying off 400 salaried U.S. workers due to 'unprecedented uncertainties'
▼ + stars: | 2024-03-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

The Stellantis sign is seen outside the FCA Headquarters and Technology Center in Auburn Hills, Michigan, on Jan. 19, 2021. DETROIT — Stellantis is laying off roughly 400 salaried employees in the U.S. in its engineering, technology and software units to cut costs as the automaker faces what it calls challenging market conditions. Stellantis on Friday said the layoffs would affect about 2% of employees in those units "after rigorous organizational reviews." Stellantis employed 11,800 U.S. salaried employees as of the end of last year. A source familiar with the actions confirmed it at about 400 workers, a number first reported Friday by The Wall Street Journal.

Persons: Stellantis, Carlos Tavares Organizations: FCA Headquarters, Technology Center, DETROIT, Wall Street, Fiat Chrysler, French, PSA Groupe Locations: Auburn Hills , Michigan, U.S

☆ A surprise recession could strike after an unexpected jump in the unemployment rate, economist says
▼ + stars: | 2024-03-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

An unexpected rise in the unemployment rate suggests a surprise recession could hit the US economy, according to David Rosenberg. The unemployment rate is now 0.5 percentage points above its cycle low to 3.9%, which Rosenberg says is a worrying sign. Rosenberg's concern stems from the February jobs report, which showed the unemployment rate unexpectedly rise to 3.9% from 3.7%. AdvertisementBut the Sahm Rule isn't triggered until the three-month moving average of the national unemployment rate is 0.5 percentage points or more above its low over the past year, not the absolute unemployment rate. But the rise in the unemployment rate is not the only factor concerning Rosenberg.

Persons: David Rosenberg, Rosenberg, Claudia Sahm, isn't, Sahm, subsector

☆ Hip-hop legend Chuck D on advocating for healthcare price transparency
▼ + stars: | 2024-03-06 | by ( John Lynch | ) www.businessinsider.com time to read: +11 min

On Tuesday, he joined Fat Joe and Foo Fighters in a Washington, DC, event to advocate for healthcare price transparency. AdvertisementOn Tuesday, Chuck D of Public Enemy joined Fat Joe, Valerie June, and the Foo Fighters in a Washington, DC, event to advocate for greater price transparency in the US healthcare system. I was reached out to as they was trying to get the voice of hip hop, the voices of hip hop, to try to be that extra voice to get the importance of this across. I got projects with Def Jam, but you know, that's a fly in a big vat of buttermilk. But 40 years later, that's not gonna be the major way that you make people think, I don't think.

Persons: Chuck D, Joe, —, Valerie June, Fat Joe, Busta, Jelly Roll, Wyclef Jean, there's, I'm, who's, Martin Luther King, Taylor Hill, he's, Paul Morigi, David Grohl, Dave Grohl, I've, There's, Kurtis Blow, MC Lyte, that's Organizations: Power, Foo Fighters, Service, Public, Capitol, Rights, Price, Hip Hop Alliance, SAG, Swift, Foo, Def Locations: Washington, DC, American, United States of America, everybody's

☆ How can I find out if I have prostate cancer? A urologist explains
▼ + stars: | 2024-03-04 | by ( Dr. Jamin Brahmbhatt | ) edition.cnn.com time to read: +5 min

CNN —Prostate cancer remains a significant concern in my practice, which is why I emphasize the importance of early detection. The American Cancer Society estimates there will be nearly 300,000 new cases of prostate cancer and about 35,000 deaths in 2024. When combined with other diagnostic tests and clinical assessments, it aids in identifying prostate cancer in its early stages, when treatment outcomes for prostate cancer surgery and radiation have the best odds for cure. It enables us to identify suspicious lesions within the prostate gland that could harbor prostate cancer. More prostate cancer testing and detection for Black menRecent research and guidelines from the Prostate Cancer Foundation highlight a significant update in prostate cancer screening for Black men.

Persons: Jamin Organizations: Orlando Health, Florida Urological Society, CNN, American Cancer Society, SDI, Prostate Cancer Foundation, PSA Locations: Florida

☆ Urban solar projects are becoming more common in Singapore. Here's how one company is powering the way forward.
▼ + stars: | 2024-02-23 | by ( Sponsor Post | ) www.businessinsider.com time to read: +8 min

EDP Renewables, a leading global renewables player, has its APAC regional headquarters based in Singapore. At street level, most people never see the solar revolution happening right above them — one that generates zero emissions and boosts Singapore's energy security. Singapore's solar ambitionsSingapore is in an obvious position to integrate solar into the national power grid. In 2023, EDP Renewables APAC greened Pulau Ubin's micro-grid with renewables. Singapore has 1 gigawatt (GW) of solar energy in operation, of which EDPR has more than 30% market share of fully-owned installed solar capacity.

Persons: Kris LeBoutillier, he's, Pedro Vasconcelos, Vasconcelos, EDPR, — Pedro Vasconcelos Organizations: EDP Renewables, Public, Housing & Development Board, JTC Corporation, Singapore Technologies, Singapore Authority, SolarNova, EDB, Renewables, EDP, Insider Studios, Singapore Economic Development Board Locations: Singapore, Asia, Singtel, Jurong Port, Port, Straits, Johor, Malaysia, APAC, 1GWp

☆ A traditional automaker just turned a profit on EVs
▼ + stars: | 2024-02-15 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Electric vehicles are finally turning a profit for Stellantis, CEO Carlos Tavares said Thursday, and, in contrast to some rivals, it will not cut back on producing EVs. The announcement marks an important milestone for electric vehicles and for traditional automakers, which have struggled to make money on EVs even as demand has grown. Ford, the only company to break out results separately for electric and traditional vehicles, reported that it lost $4.7 billion in EVs last year, or more than $40,000 per vehicle. But he said that EVs, while profitable, are still not as profitable as traditional gas-powered vehicles. That includes profit sharing for about 38,000 United Auto Workers union members at an average of $13,860, down from $14,760 a year earlier.

Persons: Carlos Tavares, ”, Tesla, Traveras, Stellantis Organizations: New, New York CNN —, Fiat Chrysler, PSA Group, Ford, GM, General Motors, Jeep, Chrysler, Dodge, United Auto Workers, UAW Locations: New York, Detroit, EVs, Europe, Paris

Full-year profit rose 11% to 18.6 billion euros . Stellantis' North American revenues, accounting for nearly half of the carmaker’s total, dropped 5.6% in the second half of the year to 40.5 billion euros from 43 billion euros on lower shipments that eroded its market share. Stellantis’ European revenues were flat in the second half of the year at 31.7 billion euros. Stellantis paid shareholders 6.6 billion euros last year through dividends and buybacks, up 53% from 2022. The carmaker said it plans to increase dividend payments by 16% this year, to 1.55 euros per share, and buy back another 3 billion euros in shares.

Persons: Stellantis, Natalie Knight Organizations: MILAN, Peugeot PSA, FCA, Detroit, South, Pacific Locations: North America, South America, China, India

☆ Chrysler reveals new Halcyon concept car as direction for future EVs
▼ + stars: | 2024-02-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

The Chrysler Halcyon concept car. The Chrysler Halcyon concept car. The Chrysler Halcyon concept car. StellantisAutomakers routinely use concept vehicles to gauge customer interest or show the future direction of a vehicle or brand. The Halcyon concept car boasts "harmony in motion" and sustainability principles, according to several officials.

Persons: Christine Feuell, we've, Feuell, Stellantis Organizations: Chrysler, DETROIT, Chrysler Pacifica, Stellantis, Fiat Chrysler, French, PSA, —, CES Locations: U.S, Canada

☆ One in six Black men will be diagnosed with prostate cancer in their lifetime. Early detection is key to saving lives
▼ + stars: | 2024-01-26 | by ( Nicquel Terry Ellis | ) edition.cnn.com time to read: +5 min

“That was really scary to hear.”One in six Black men will develop prostate cancer in their lifetime, according to the advocacy organization ZERO Prostate Cancer. The rate of prostate cancer among Black men has been underscored in recent weeks as Dexter King, the youngest son of the Rev. And in December, US Defense Secretary Lloyd Austin underwent a prostatectomy to treat prostate cancer that was discovered that same month. Bugler said ZERO Prostate Cancer recommends that Black men start talking to their doctors about the risks and benefits of prostate cancer screening at the age of 40. He blames toxic masculinity and stubbornness, which he said can also play a role in preventing Black men from getting screened for prostate cancer.

Persons: Nate Battle, doctor’s, “, ‘, ”, Dexter King, Martin Luther King Jr, Lloyd Austin, aren’t, it’s, Otis Brawley, ” Brawley, Brawley, Johns Hopkins, ” Courtney Bugler, Bugler Organizations: CNN, Prostate Cancer, Research, American Cancer Society, US, Johns Hopkins University, Baltimore and, ZERO Prostate, Cancer Locations: Black, barbershops, Baltimore, Baltimore and Washington

☆ Posting a TikTok video of yourself getting laid off is good, actually
▼ + stars: | 2024-01-17 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +5 min

A video of a woman filming herself getting laid off from Cloudflare went viral on Tiktok. Over the last year, we've seen similar TikToks of people filming themselves getting laid off. AdvertisementA trend on TikTok that's been simmering for a while but really went mainstream this week has been people (mostly young women) filming themselves getting laid off from their corporate tech jobs. Last week, one in particular made headlines as the young woman getting laid off from CloudFlare pushed back at the HR rep leading the call. It won't necessarily stop you from getting laid off if the ax falls on your department, but demystifying the process is good for workers.

Persons: we've, —, Mickella Simone Miller, Miller, that's, CloudFlare, doesn't, Chloe Shih, it's, Shih Organizations: Service, DMs Locations: Salt Lake City

☆ Fat Joe on teaming up with Jelly Roll and Wyclef Jean to advocate for healthcare price transparency in Washington, DC
▼ + stars: | 2024-01-17 | by ( John Lynch | ) www.businessinsider.com time to read: +12 min

Around 500 Congress members and government officials attended to watch Joe perform with artists Jelly Roll and Wyclef Jean, according to the artist's rep. You know, I'm an open book. Jelly Roll, Fat Joe, and Wyclef Jean. Power to the Patients/Shareif ZiyadatWhat made Jelly Roll and Wyclef Jean the right folk to link with on this particular event? AdvertisementAnd this year, you know, I'm a huge fan of Jelly Roll.

Persons: Joe, Hakeem Jeffries, Frank Pallone, Sen, Mike Braun, Jelly Roll, Wyclef Jean, Power, Chuck D, Busta, Rick Ross, who's, Kevin Morra, He's, we've, Cynthia Fisher, Uber, I'm, Brown, I've, Wycelf Jean, Wyclef Jean . Power, Roll, they've, Wyclef, Donald Trump, it's Organizations: Power, Capitol, Democratic, Hamilton, Price, Joe, MTV, Healthcare, Republican, American Express Locations: Washington , DC, America, There's, Washington, Kentucky, French Montana, Haiti

☆ A millennial mocked corporate workers for using military jargon in the office: 'We're not in the trenches; we're in Excel'
▼ + stars: | 2024-01-12 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewJack Lawler, the TikToker behind the account @workretiredie, recently went viral for hilariously imploring office workers to stop using military jargon to describe their day-to-day slog. This story is available exclusively to Business Insider subscribers. "Our printer went down in the office and my boss yelled 'we're basically dead in the water!'" In September, a Gen Z tech worker, Hannah Shirley, went viral on TikTok for encouraging people to communicate more authentically at work.

Persons: —, Jack Lawler, we're, Lawler, We're, Hilton, commenter, who's, Lawler isn't, Hannah Shirley Organizations: Service, Excel, Business, Omaha, PSA, Media, Twitter Locations: Iwo Jima, fuckin

☆ Christmas 2023 was a reckoning on TikTok for dads who forgot to buy stocking gifts for moms
▼ + stars: | 2023-12-27 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +5 min

While dads and kids were getting stockings filled with cute little presents, moms often didn't, or had to fill their own. AdvertisementIn November, a content creator named Aubree Jones kicked off the conversation with a video of her family on Christmas day last year. "There's nothing more sad and empty than a mom's stocking on Christmas morning," she said. But she said she then asked her family if any of them had put gifts in her mom's stocking, they all said no. Let this be your reminder to get some small things for your moms' stockings."

Persons: —, Aubree Jones, Josh, Jones, didn't, I'm, Becky Wax, Mara, doesn't, Kenzie, she'd Organizations: Service

☆ Stellantis resurrects small Fiat 500e EV for the U.S., starting at $34,095
▼ + stars: | 2023-12-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Stellantis is resurrecting the all-electric Fiat 500e for the U.S. market, as the automaker begins to release electric vehicles domestically to meet tightening fuel economy regulations. The 500e will be the first all-electric vehicle offered in the U.S. by Stellantis since the company formed in 2021. At just over 3,000 pounds, Stellantis says the 500e is expected to be the lightest all-electric vehicle in the segment. The electric Fiat 500e as well as gas-powered models of the car were previously built at a factory in Mexico by Fiat Chrysler. A Fiat spokesman said additional 500e models will be available at Fiat dealerships in the future.

Persons: Stellantis, It's, it's, Sergio Marchionne, Bono, AIDS — Organizations: DETROIT, U.S, Stellantis, Fiat Chrysler, French PSA Group, 500e, AIDS, ONE, Fiat Locations: U.S, Italy, Mexico

☆ Serbia's Vucic says electric Fiat Panda model to be produced in Serbia
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +1 min

[1/3] Italian Prime Minister Giorgia Meloni receives an honour guard, while walking with Serbian President Aleksandar Vucic, in Belgrade, Serbia, December 3, 2023. REUTERS/Zorana Jevtic Acquire Licensing RightsBELGRADE, Dec 3 (Reuters) - Serbian President Aleksandar Vucic said on Sunday he expects automaker Stellantis (STLAM.MI) to produce an electric Fiat Panda city car in the central town Kragujevac. Vucic said that the production of electric Panda would boost trade between Italy and Serbia above the current 4.6 billion euros a year. The current generation of the Fiat Panda is built near Naples in Italy, and the new model is expected around mid-2024. Stellantis, created in 2021 through the merger of France's PSA and Fiat Chrysler, and the Serbian government in 2022 signed a 190 million euro deal to produce electric vehicles in the Kragujevac plant which previously produced the Fiat 500L model.

Persons: Giorgia Meloni, Aleksandar Vucic, Zorana, Vucic, Stellantis, Ivana Sekularac, Alvise Armellini, Alison Williams Organizations: Serbian, REUTERS, Rights, Fiat Panda, Fiat, France's PSA, Fiat Chrysler, Thomson Locations: Belgrade, Serbia, Serbian, Kragujevac, Italy, Naples

☆ AI, autonomous systems, and digital connectivity could help ships cut emissions
▼ + stars: | 2023-11-30 | by ( Amanda Paule | ) www.businessinsider.com time to read: +10 min

Autonomous and AI systems could help reduce ships' fuel use. "The only time the maritime industry is ever on the front page of a paper is when there's an accident. Sea Machines RoboticsJohnson said he saw that decarbonization was not only a bonus of Sea Machines' technology but its best value proposition. The Sea Machines Robotics team can monitor (and celebrate) autonomous vessel operations from a control room. Smart-Ship's "Throttle & Bow Buster" is one of three force-feedback levers they offer to help ships increase safety and fuel savings.

Persons: —, AP Moller, Michael Johnson, Johnson, who's, Sea Machines Robotics Johnson, decarbonization, they've, Jelle, Jelle Tiemensma, Sofia Fürstenberg Stott, Stott, Mikael Lind, Lind Organizations: Service, International Maritime Organization, AP Moller, Maersk, AP, AP Moller Holding, Business, Companies, Crowley, Machines, Sea Machines Robotics, Machines Robotics, Smart, Sofia, Sustainable Shipping, Research Institutes of Sweden, International

☆ Stellantis, CATL sign preliminary deal for LFP battery supply in Europe, consider JV
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Stellantis logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado Acquire Licensing RightsMILAN, Nov 21 (Reuters) - Carmaker Stellantis (STLAM.MI) and Chinese EV battery giant CATL (300750.SZ) said on Tuesday they signed a preliminary agreement for the supply of battery cells and modules for the automaker's electric vehicle (EV) production in Europe. The two companies said in a joint statement they were also considering a possible investment to set up a 50-50 joint venture to support the automakers' electrification strategy. Stellantis and CATL said the memorandum of understanding (MoU) announced on Tuesday outlined a long-term collaboration between the two groups, including "identifying opportunities to further strengthen the battery value chain". For its EV battery needs in Europe Stellantis is building three gigafactories, in France, Germany and Italy through its ACC joint venture with Mercedes (MBGn.DE) and TotalEnergies (TTEF.PA), while others might follow in the region.

Persons: David, Dee, Delgado, Alfa Romeo, Stellantis, CATL, Robin Zeng, Carlos Tavares, Giulio Piovaccari, Chizu Organizations: New York, REUTERS, EV, Franco, Jeep, Peugeot, Fiat, Alfa, ACC, Mercedes, Fiat Chrysler, PSA, Thomson Locations: Manhattan , New York City, U.S, Europe, Italian, France, Germany, Italy

DETROIT (AP) — Stellantis said Monday it will offer buyout or early retirement packages to about 6,400 nonunion U.S. salaried employees as the auto industry faces what the company is calling challenging market conditions. Stellantis said it has about 12,700 U.S. salaried workers who are not union members. Stellantis made buyout offers to groups of white-collar and unionized employees in the U.S. and Canada in April. It was hoping to cut the hourly workforce by about 3,500 people but wouldn't say how many salaried workers it was targeting. But it said a 44-day strike by the United Auto Workers union this fall cost it $795 million (750 million euros).

Persons: — Stellantis, Stellantis Organizations: DETROIT, Fiat Chrysler, PSA Peugeot of, Workers, United Auto Workers Locations: PSA Peugeot of France, U.S, Canada

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