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☆ A can of paint. Stolen license plates. Odd messages. How the FBI charged a Florida man with kidnapping his wife in Spain
▼ + stars: | 2024-05-09 | by ( Faith Karimi | Al Goodman | ) edition.cnn.com time to read: +7 min

But the FBI said this week they’ve arrested the mystery man who entered her Madrid apartment building that night: her estranged husband. Knezevich’s attorney, Kenneth Padowitz, told CNN in February that his client is innocent and “has never been to Spain.” Padowitz declined to comment Wednesday after Knezevich’s arrest. She was planning a trip to Barcelona with her friends on February 5, her brother told CNN, making her sudden lack of contact more concerning. Spanish firefighters entered her apartment for a welfare check and she was nowhere to be found, court documents said. And they were written with the help of another Colombian woman Knezevich had met on a dating app months earlier, court documents said.

Persons: Ana Maria Knezevich, Henao, they’ve, David Knezevich, he’d, Kenneth Padowitz, “, ” Padowitz, Knezevich, ” Henao, Padowitz, Ana Maria Knezevich Henao, Manu Fernandez, James Marshall, they’re, ” Marshall, ”, Sanna Rameau, ” Rameau, she’d, — Knezevich, Knezevich’s, CNN’s Pau Mosquera, Denise Royal, Carlos Suarez Organizations: CNN, FBI, Miami International Airport, EOX Technology Solutions Inc, Peugeot, AP FBI Locations: Madrid, Spain, Florida, Barcelona, Fort Lauderdale, Miami, Serbia, Spanish, Turkey, Belgrade, Salamanca, Colombia, Colombian, Bogota

☆ Book at these times to save money on summer flights for 2024
▼ + stars: | 2024-04-27 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

CNN —In travel news this week: a gelato ban in Italy, runaway horses in central London, the orange fog that hit Athens and – if you’re still feeling brave enough – the best dates and times to book summer flights. When to book summer travelMid-to-late August is the best time for Americans to fly this summer, according to travel company Expedia. It recommends booking summer flights 21 to 60 days out – last year, travelers booking during this window saved around 15% on domestic and international travel. Similar savings were enjoyed by travelers who departed on a Monday for international flights or on a Tuesday for domestic flights, compared with those who opted for more popular Thursday and Friday departures. Over in London, laid-back Bethnal Green cocktail bar Satan’s Whiskers was this month named “Best Bar in the UK” at the Class Bar Awards.

Persons: you’re, It’s, –, Expedia, ” you’re, Speakeasy, Taylor, Swift, Pelumi Nubi, “ It’s Organizations: CNN, Travelers, Bethnal, Peugeot Locations: Italy, London, Athens, Europe, Greece, Helsinki, Finland, Buckingham Palace, Venice, Paris, Moulin Rouge, Colonia Juárez, Mexico City, North America, South London, Lagos, Nigeria, Italian, American

☆ How one woman drove from London to Lagos in her old Peugeot 107
▼ + stars: | 2024-04-20 | by ( Janelle Gonzalez | ) edition.cnn.com time to read: 1 min

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☆ This solo traveler drove from London to Lagos in a Peugeot 107
▼ + stars: | 2024-04-08 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +8 min

CNN —On January 24, content creator Pelumi Nubi, who grew up in London, set off on a solo drive from the UK capital to Lagos, Nigeria in her beloved purple Peugeot 107. In order to ensure that her vehicle would be suitable for the 10,000-kilometer journey, Nubi had it specially modified, adding a bed and a kitchen facility inside. However, the journey wasn’t without its challenges, some more serious than others. Bigger pictureNubi, seen in Kenya before undertaking her London to Lagos challenge, hopes that her travels will inspire us to pursue their dreams. While she believes that she’s now the first Black solo female traveler to have driven from London to Lagos, Nubi isn’t hugely interested in such titles and says that this was never her goal.

Persons: Pelumi Nubi, “ It’s, ”, Nubi, Omololu Olurinde, Kunle, she’d, Omololu, I’ve, ‘ Lumi, “ She’s, she’s, “, it’s, ” Nubi, It’s, Lumi, Nubi isn’t Organizations: CNN, Sunday, Peugeot, Osprey Locations: London, Lagos, Nigeria, France, Morocco, Senegal, Sierra Leone, Nigerian, West Africa, Namibia, Ghana, Lake Como, Italy, Spain, Paris, Mauritania, ”, Gambia, Guinea, Bissau, Liberia, Ivory Coast, Togo, Benin, Kenya, Yamoussoukro, South Africa

☆ 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

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

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

☆ Netflix is the king of streaming. But can it last?
▼ + stars: | 2024-01-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at what to expect ahead of Netflix's big earnings report. This story is available exclusively to Business Insider subscribers. And as other streamers scramble to figure out long-term business plans, Netflix has been crowned the winner of the streaming wars thus far. Netflix is so big it even has shows from other streamers, a sign of how ubiquitous it has become. AdvertisementGet in touchinsidertoday@insider.comTo read unlimited articles, subscribe to Business Insider.

Persons: —, It's, Scott Stuber, Stuber, Insider's Lucia Moses, That'll, dealmaking, isn't, Insider's Peter Kafka, Peter, it's, James Leynse, Griffin's, Shaw, Griffin, Gary Weathers, Morgan Stanley, Tesla, Stellantis, Tommy Parker, They're, Oscar, Zazie Beetz, Jack Quaid, They'll, Tim Spector's, Dan DeFrancesco, Diamond Naga Siu, Hallam Bullock, Jordan Parker Erb, Hayley Hudson, Lisa Ryan Organizations: Service, IRS, Business, Netflix, Netflix Films, Traders, Computer Terminals, Goldman, Getty, UBS, Griffin's Citadel, LCH Investments, BlackRock, Los, Peugeot, Chrysler, Dodge, BI, Balyasny, Management, National Baseball Hall of Fame, MLB Network, Procter, Gamble, Electric, Verizon Locations: Goldman Sachs, Los Angeles, Boston, Suez, Panama, New York, San Diego, London, Edinburgh

☆ Lancia to reveal new Ypsilon small car in February in European comeback plan
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

An employee dusts of a Lancia Ypsilon 30th anniversary edition during the first press day ahead of the 85th International Motor Show in Geneva March 3, 2015. The new Ypsilon will initially be presented as a fully-electric, limited edition version of 1,906 units, Lancia said in a newsletter. The car will go on sale in Italy before summer next year and will also be available in a mild-hybrid version. The new Ypsilon will be built in Zaragoza, Spain, on the same platform as several other Stellantis models, including the Jeep Avenger, Fiat 600, Peugeot's 208 and 2008 and Opel's Mokka and Corsa. Reporting by Giulio Piovaccari; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Lancia, Opel's, Giulio Piovaccari, Kirsten Donovan Organizations: Lancia, REUTERS, Jeep, Fiat, Thomson Locations: Geneva, Italy, Stellantis, Zaragoza, Spain

☆ 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

MILAN (AP) —Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits —less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. GM, the last carmaker to reach a deal to end the strike, reported an $800 million strike hit. North America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%.

Persons: Stellantis, Natalie Knight, Ford, Knight Organizations: MILAN, Fiat, Peugeot, GM, CES, LA, Saturday, United Auto Workers Union, Jeep, North Locations: North America, Europe, Asia, U.S, Las Vegas, Michigan, Ohio

Union wages, and the battles to keep them, have elevated the fortunes of countless Black families, Brooks said. “Black people could take advantage of that and buy homes in neighborhoods throughout Detroit,” Perry said. “Without the union jobs, (employers) can do anything, say anything and you're out the door,” she said. Only about 25% of Detroit's residents are in that range, and about two-thirds of city residents earn less than $50,000 per year, Goss said. Martin described her childhood during the 1970s and 1980s in her predominantly Black Detroit neighborhood as among the “happiest times” of her life.

Persons: WAYNE, Britney Johnson, Johnson's, “, ”, Tracy Brooks, Johnson, Brooks, Bobbie Allen Sr, Allen, ” Brooks, Andre Perry, ” Perry, Mike Duggan, Anika Goss, Goss, Yolanda Martin, Martin, Tracy Hadden Loh, ” Martin, ” ___ Jefferson, Rhonda Shafner Organizations: Black, United Auto Workers, Ford, Union, General Motors, Ford Motor, Blacks, Brookings Metro, Brookings Institution, Daimler Chrysler, Fiat Chrysler, PSA Peugeot, Detroit Future, Chicago . Locations: Mich, Ford's Wayne, Texas, Michigan, Detroit, Stellantis, U.S, Chicago, Black Detroit, Rosedale, Grandmont, Novi, New York

☆ Stellantis to buy about 20% stake in China's Zhejiang Leapmotor for $1.6 bln
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the logo of Stellantis at the entrance of the company's factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsOct 26 (Reuters) - Stellantis NV (STLAM.MI) said on Thursday it would invest 1.5 billion euros ($1.58 billion) to acquire approximately 20% of Chinese electric vehicle (EV) maker Zhejiang Leapmotor Technology (9863.HK). After the subscription, Stellantis will own about 21.07% of Zhejiang Leapmotor's total issued Hong Kong shares. Stellantis, whose brands include Fiat and Peugeot, has a very small presence in China, the world's largest auto market. The group last year closed its joint venture that makes Jeeps in China with local partner Guangzhou Automobile Group (601238.SS) amid disappointing results.

Persons: Pascal, Leapmotor, Stellantis, Carlos Tavares, Sameer Manekar, Kanjyik Ghosh, Devika Syamnath, Subhranshu Organizations: REUTERS, Stellantis, Zhejiang Leapmotor Technology, HK, Hong, Hong Kong, Chrysler, Fiat, Peugeot, Renault, Guangzhou Automobile Group, Thomson Locations: Hordain, France, Zhejiang, Hong Kong, Greater China, China, Europe, Bengaluru

☆ Stellantis nears deal to buy 20% of Chinese EV maker Leapmotor - Bloomberg News
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

A flag with the logo of Stellantis is seen at the company's corporate office building in Saint-Quentin-en-Yvelines near Paris, France, May 5, 2021. The partnership would also give Stellantis access to the EV maker's parts and certain technologies, according to the report. Stellantis, whose brands include Fiat and Peugeot, has only a very small presence in China, the world's largest auto market. The group and rivals such as Renault (RENA.PA) are concerned about growing competition from cheap Chinese electric cars in Europe. The companies are hammering out the final details of a transaction and an announcement could be made in the coming days, Bloomberg said.

Persons: Gonzalo Fuentes, Stellantis, Leapmotor, Akanksha, Gilles Guillaume, Giulio Piovaccari, Zhang Yan, Keith Weir, Shilpi Majumdar, Shweta Agarwal, Mike Harrison, Jan Harvey Organizations: REUTERS, Stellantis, Bloomberg, Zhejiang, HK, Fiat, Peugeot, Renault, Hong Kong, Guangzhou Automobile Group, Thomson Locations: Saint, Yvelines, Paris, France, China, Europe, Hong Kong, Bengaluru, Milan, Shanghai

☆ 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

☆ I’ve Written About Cars for Over 30 Years. Here’s Why ‘Ferrari’ Is the First Great Car Movie
▼ + stars: | 2023-10-20 | by ( Dan Neil | ) www.wsj.com time to read: 1 min

MAXIMUM FERRARI In a scene from director Michal Mann’s ‘Ferrari,’ Piero Taruffi (played by Patrick Dempsey) drives his 315 S to victory in the 1957 Mille Miglia, the famous 1,000-mile road race around Italy. Photo: Eros Hoagland/NEONIT’S 1957 AND ENZO FERRARI (Adam Driver) is running late. Director Michael Mann’s concours-quality “Ferrari,” opening in December, finds the 59-year-old Il Commendatore in midlife crisis. The Great Engineer has a second family—including an illegitimate son, Piero—an empty bank account and an estranged wife/business partner, Laura (Penélope Cruz). She’s waiting at home with a Beretta.

Persons: Michal Mann’s ‘ Ferrari, ’ Piero Taruffi, Patrick Dempsey, Mille Miglia, Eros Hoagland, ENZO FERRARI, Adam Driver, Michael Mann’s, Piero —, Laura, Penélope Cruz Organizations: FERRARI, Peugeot Locations: Italy

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

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

☆ 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

☆ Stellantis to invest $500 million in Rio plant
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

A Stellantis sign is seen outside its headquarters in Auburn Hills, Michigan, U.S., June 10, 2021. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsCompanies Stellantis NV FollowRIO DE JANEIRO, Sept 22 (Reuters) - Stellantis (STLAM.MI) will invest up to 2.5 billion reais ($508 million) in its plant in Rio de Janeiro state, its CEO for South America, Antonio Filosa, said on Friday. The announcement happened at an event at the Guanabara Palace, the Rio state government's headquarters, and the funds are part of an investment cycle that ends in 2025. Of the total, 330 million reais have been invested in developing a modified version of its CMP car platform for producing models from several of the group's brands, compatible with combustion, hybrid and electric engines. Stellantis, which owns brands such as Fiat, Peugeot and Jeep, has two other factories in Brazil and two more in South America.

Persons: Rebecca Cook, Antonio Filosa, Stellantis, Rodrigo Viga Gaier, Peter Frontini, Steven Grattan, Jason Neely, David Gregorio Our Organizations: REUTERS, RIO DE, South, CMP, Fiat, Peugeot, Jeep, Thomson Locations: Auburn Hills , Michigan, U.S, RIO DE JANEIRO, Rio de Janeiro, South America, Guanabara, Rio, Brazil

☆ For Tesla and Musk, Auto Strike Carries Benefits and Risks
▼ + stars: | 2023-09-21 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: +1 min

Activists must get at least 30 percent of workers to sign union cards and force a vote overseen by the National Labor Relations Board. Companies often do all they can to dissuade workers from joining, hiring lawyers and consultants who specialize in defeating union campaigns. The company reported profit of $2.7 billion on sales of $25 billion in the second quarter, giving it a profit margin of about 11 percent. That profit margin is more than that of Ford or G.M., even after an exceptionally profitable period for those companies. In August, United Parcel Service employees won their biggest raises ever in a contract negotiated by the International Brotherhood of Teamsters.

Persons: Tesla, Biden Organizations: National Labor Relations Board, Companies, Amazon, Ford, Fiat Chrysler, Peugeot SA, Hollywood, United Parcel Service, International Brotherhood of Teamsters Locations: Staten, unionize, United States

☆ Stocks making the biggest moves midday: Instacart, Steelcase, Klaviyo and more
▼ + stars: | 2023-09-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Klaviyo — Klaviyo shares jumped more than 9% after the marketing automation company surged to $36.75 after its New York Stock Exchange initial public offering. Stellantis — Shares rose about 1.7% after sales in Europe of brands such as Peugeot and Opel surged more than 6% in August. On Holding — The shoe stock rose finished lower ever after Needham initiated coverage with a buy rating. Lululemon — The athleisure clothing company rose nearly 2% after Needham initiated coverage with a buy rating, saying it expects double-digit top-line growth as accelerating technical innovation drives demand. Davidson initiated coverage on the stock at a buy.

Persons: Instacart, Steelcase, Jefferies, Davidson, Mills, Coty, Morgan Stanley, Chewy, Oppenheimer, Needham, Goldman Sachs, Azul, it's, —, Alex Harring, Hakyung Kim, Jesse Pound, Michelle Fox, Sarah Min, Yun Li, Lisa Kailai Han Organizations: Nasdaq, New York Stock Exchange, Bausch Health, —, Health, Peugeot, Opel, Chrysler, United Auto Workers, Citi, D.A, LSEG, Coty, Technologies, Textron — Textron, Berkshire Hathaway, Cessna Citation, Azul, JPMorgan, First, Bank Locations: Europe, U.S

☆ 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

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