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☆ 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

☆ Unions call for one-day strike at Stellantis' Melfi plant in Italy over new models
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

A Stellantis sign at the entrance of the carmaker's factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsMILAN, Sept 15 (Reuters) - Unions called for a one-day strike at Stellantis' (STLAM.MI) Melfi plant in southern Italy on Sept. 18 over lack of new details by the carmaker about its future production there, UILM, FIM-CISL, Fismic and Uglm said on Friday. The Franco-Italian group in June said it planned to produce five new models in Melfi - where it employs more than 5,000 workers - with the fifth one "subject to performance improvement". Marco Lomio, the local head of UILM, said Melfi workers are called to an 8 hour strike on each of Monday's three scheduled shifts, with a total halt of the facility on that day. The strike is not related to the ongoing action by United Auto Workers in the U.S. at three factories owned by General Motors (GM.N), Ford Motor (F.N) and Chrysler parent Stellantis.

Persons: Pascal, Melfi, Uglm, Marco Lomio, Stellantis, Giulio Piovaccari, Federico Maccioni, Louise Heavens Organizations: REUTERS, United Auto Workers, General Motors, Ford Motor, Chrysler, Thomson Locations: Hordain, France, Italy, Italian, Melfi, U.S

☆ Stellantis plans to expand battery capacity to 400 GWh
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsMILAN, Sept 8 (Reuters) - Carmaker Stellantis (STLAM.MI) aims to expand its battery building capacity to 400 GWh to support growing production of electric vehicles, its head of global propulsion systems said on Friday. We believe we need to go to 400 gigawatt hours of capacity around the world," Bly said during the inaugurating the group's new Battery Technology Center in Turin, Italy. Bly, however, did not specify whether the group planned to build more gigafactories on top of those already announced to expand the capacity. As part of its effort to boost capacity, Stellantis on Friday said it had invested 40 million euros ($43 million) in its Turin's Battery Technology Center, in the Mirafiori complex, which will be focused on in-house testing and development of EV battery packs for upcoming group vehicles. More than 100 people will be employed in the Turin's Battery Technology Center, mostly retrained Stellantis workers, the group said adding that a similar facility for North America was being built in Windsor, Canada.

Persons: Pascal, Micky Bly, Stellantis, Bly, Giulio Piovaccari, Federico Maccioni, Keith Weir Organizations: REUTERS, Global Propulsion Systems, Battery Technology, ACC, Mercedes, Battery Technology Center, Turin's Battery Technology Center, Thomson Locations: Hordain, France, Turin, Italy, Germany, U.S, Canada, North America, Windsor , Canada

☆ Stellantis sees long road ahead for internal combustion engine cars
▼ + stars: | 2023-09-07 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +2 min

A Stellantis sign at the entrance of the carmaker's factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsMILAN, Sept 7 (Reuters) - Carmaker Stellantis (STLAM.MI) believes internal combustion engine (ICE) vehicles could be on the road until 2050, making it necessary to contain their carbon emissions until they're finally replaced by fully electric ones. Stellantis has reaffirmed its commitment to all new car sales in Europe being battery-electric by 2030, although the European Union has excluded cars that run on e-fuels from its 2035 deadline to phase out new carbon dioxide-emitting cars. Many sceptics however point out e-fuels are not a viable alternative in the short time, due to their low availability and high costs. Stellantis and Aramco executives said e-fuel availability was expected to increase and their prices to go down, also thanks to favourable taxation in the European Union, "in the future", but without providing more specific predictions.

Persons: Pascal, Stellantis, Christian Mueller, Amer Amer, Giulio Piovaccari, Keith Weir Organizations: REUTERS, they're, Fiat, Peugeot, Saudi, European Union, ICE, Propulsion Systems, Aramco, Thomson Locations: Hordain, France, Aramco, Europe, Saudi Arabia, Spain, Stellantis

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