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In this article STLASTLA Follow your favorite stocks CREATE FREE ACCOUNTCarlos Tavares, Chief Executive Officer of Stellantis, attends the Paris Automotive Summit during the 2024 Paris Auto Show in Paris, France, October 15, 2024. It's the word former Stellantis CEO Carlos Tavares used in June to describe mistakes that led to the automaker's troubles in the U.S. Investors also had turned on the chief executive, with U.S.-traded shares of Stellantis off 43% in 2024 prior to his departure. Such issues ultimately led to Tavares' resignation, with the company saying Dec. 1 that he was leaving immediately because of "different views" with Stellantis' board. Until then, the company has established a new interim executive committee led by Chairman John Elkann, scion of Italian automaker Fiat.
Persons: Carlos Tavares, Benoit Tessier, It's, Tavares, Stellantis, Les Echos, Stellantis N.V, John Elkann, Jan, it's, Carlos Ghosn, Sergio Marchionne, Bernstein, Daniel Roeska, Magali Cohen, Tavares —, , Doug Ostermann, Ostermann, Mack, Bill Pugliano, EVs, Tavares didn't, Tim Kuniskis, Christian Meunier, Jim Morrison, Chamarthi, Natalie Knight, Mark Stewart, Ned Curic, Mark Reuss, Rebecca Cook, Shawn Fain, Kevin Farrish, Antonio Filosa, Farrish, Massimo Pinca Organizations: Paris Automotive Summit, Reuters DETROIT, CNBC, Atlantic, U.S, General Motors, Ford Motor, PSA Groupe, Fiat Chrysler, Stellantis, Dodge, Fiat, Chrysler, Peugeot, The New York Stock Exchange, NYSE, Fiat Chrysler Automobiles N.V, Peugeot S.A, NYSE Tavares, Opel, Nissan, porte de, AFP, Getty, Jeep, Dodge Charger, United Auto Workers, UBS, UAW, Financial Times, Fiat Chrysler's, Swiss Army, Jeep North, America, Goodyear Tire, Co, Reuters, North, Fiat Panda Locations: Paris, France, U.S, Portuguese, North America, Stellantis, porte, porte de Versailles, Portugal, Europe, Detroit, Detroit , Michigan, Jeep North America, Auburn Hills , Michigan, Antonio, Turin, Italy
BANGKOK (AP) — Stellantis plans to invest about 1.5 billion euros, or about $1.6 billion, in Leapmotor, a Chinese electric vehicle manufacturer, the companies said late Wednesday. The European-based maker of Jeep and Ram and Leapmotor said in a joint statement that they have formed a strategic partnership and joint venture that aims to expand the Chinese EV maker’s sales both inside and outside of China. Stellantis said it expects to benefit from Leapmotor’s “tech-first EV ecosystem” in China to meet its own targets for shifting to electric vehicles. The companies said the 51% Stellantis-led joint venture will have exclusive rights to export and sell Leapmotor’s vehicles outside China. Leapmotor has focused on the mid- to high-end of the EV market in China, selling 111,000 electric vehicles in 2022.
Persons: , Leapmotor, Stellantis, BEV Organizations: EV, Hong Kong, Fiat Chrysler Automobiles, French PSA Group Locations: BANGKOK, Leapmotor, China, Hangzhou, Hong, Amsterdam
Stellantis to Stop Work at Factory in Illinois
  + stars: | 2022-12-09 | by ( Ryan Felton | ) www.wsj.com   time to read: 1 min
The assembly plant in Belvidere, Ill, that Stellantis says it will idle in February, resulting in ‘indefinite layoffs.’Jeep maker Stellantis N.V. said it would stop operations at a 1,350-employee assembly plant in Illinois, citing the need to control costs in the face of supply-chain disruptions and high expenses associated with moving to electric vehicles. This article will be updated as news develops.
Factbox: Advertisers react to Twitter's new ownership
  + stars: | 2022-11-03 | by ( ) www.reuters.com   time to read: +1 min
Nov 3 (Reuters) - Advertisers are grappling with Twitter's new ownership under Tesla boss Elon Musk, who once tweeted "I hate advertising". General Motors Co (GM.N)The largest U.S. automaker temporarily paused paid advertising on Twitter after Musk completed his takeover of the social media company. The Detroit automaker said it was "engaging with Twitter to understand the direction of the platform under their new ownership." The Interpublic Group of Companies Inc (IPG.N)The global advertising and marketing services firm recommended that its clients temporarily pause their advertisements on Twitter, The Wall Street Journal reported. Compiled by Alberto Chiumento, Philipp Krach and Antonis Pothitos; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.
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