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☆ At Stellantis investor day, cost cuts and China come into focus
▼ + stars: | 2024-06-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Massimo Pinca | ReutersDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. "We are not in the race to transition to EVs, but in a race to cut cost on EVs," Tavares said in late May during a Bernstein investor conference. The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight. "The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed.

Persons: Carlos Tavares, Massimo Pinca, Tavares, " Tavares, Stellantis, Ned Curic, EVs, I've, Natalie Knight, David Dee Delgado, Ram, China's, Patrick Hummel Organizations: Reuters DETROIT, Atlantic, PSA Groupe, Fiat Chrysler, Ram, CNBC, Amazon, New York, Auto, Reuters, Cox Automotive, UBS, GM, Ford Locations: Turin, Italy, U.S, Auburn Hills , Michigan, Manhattan , New York, China

☆ EV batteries will have to be 50% lighter in future, Stellantis tech chief says
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Carlos Barria/File Photo Acquire Licensing RightsMILAN, Sept 8 (Reuters) - Carmaker Stellantis (STLAM.MI) aims to develop lighter electric vehicle batteries, cutting weights in half to improve sustainability, the group's technology chief said on Friday. Ned Curic said current electric vehicle (EV) batteries were "just too heavy", making vehicles "not compatible" with sustainability purposes. "So what I have in mind and a very hard goal for my team by 2030 is to change the battery weight to at least 50% lighter battery," Curic said during the inauguration of the group's Battery Technology Center in Turin, Italy. "We will have to think about completely new materials, new chemistry, new way of replacing this heavy, heavy, heavy materials to something much lighter," he said. "We are consuming a lot of carbon-based energy in existing systems so moving to electric vehicle systems does allow for a lot more sustainable a future," he added.

Persons: Carlos Barria, Ned Curic, Curic, Stellantis, Giulio Piovaccari, Susan Fenton Organizations: FIAT, Los Angeles Auto Show, REUTERS, group's Battery Technology, Fiat, Peugeot, Battery Technology Center, Thomson Locations: Los Angeles , California, U.S, Turin, Italy, North America, Windsor , Canada

☆ Stellantis, Foxconn form 50-50 JV on semiconductors for auto industry
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, February 23, 2022. REUTERS/Gonzalo Fuentes/File PhotoMILAN, June 20 (Reuters) - Carmaker Stellantis (STLAM.MI) and iPhone assembler Foxconn (2317.TW) have created a 50-50 joint venture to design and sell semiconductors for the automotive industry from 2026. The joint venture, called SiliconAuto, will supply Stellantis, including its new 'STLA Brain' electronic and software architecture, Foxconn and other customers, the two companies said in a statement. The deal, for which no financial details were provided, follows a preliminary agreement that Stellantis and Foxconn signed in December 2021 to partner in semiconductors for the automotive industry. Separately, Stellantis and Foxconn already have the Mobile Drive joint venture to develop in-car and connected-car technologies for the auto industry.

Persons: Gonzalo Fuentes, MILAN, Foxconn, Stellantis, Ned Curic, SiliconAuto, Giulio Piovaccari, Keith Weir Organizations: REUTERS, Fiat, Peugeot, Thomson Locations: Velizy, Villacoublay, Paris, France, Netherlands

☆ Stellantis Ventures spends first 100 million euros on green drive
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

The world's third largest carmaker by sales, last year launched Stellantis Ventures with an initial 300 million euros to invest in start-ups developing technologies that will further its 2030 goals, including those concerning the transition to lower-emission mobility. "We are using the strength of Stellantis Ventures to connect with companies that are developing cutting-edge technology that we believe can transform the in-cabin experience and improve the mobility sector," Stellantis technology chief Ned Curic said in a statement. Stellantis Ventures' global head Adam Bazih said the arm had so far used roughly a third of its funding to support 10 start-up companies and one mobility venture fund. They include lithium-sulfur EV batteries start-up Lyten, which Stellantis separately announced last month. Stellantis did not disclose the name of the U.S.-based mobility venture fund it is helping to fund due to a pending regulatory process, Bazih said.

Persons: Ned Curic, Adam Bazih, Stellantis, Bazih, Giulio Piovaccari, Gilles Guillaume, Jane Merriman, Barbara Lewis Organizations: Stellantis, MILAN, Stellantis Ventures, Products, Thomson Locations: U.S, Europe

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