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☆ A Ukrainian group says it's wreaking havoc on Russian occupiers, from directing missile strikes to trolling them with the national anthem
▼ + stars: | 2023-08-31 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

A secretive Ukrainian group detailed its acts of sabotage against Russian occupiers in Ukraine. The National Resistance Center aims to inflict psychological pressure on Russian troops. The group, the National Resistance Center, is run by Ukraine's special forces. Per Ostap, NRC members tipped off the Ukrainian military about the gathering, enabling them to launch an attack with the US-provided HIMARS missile system. The NRC spokesperson said their aim is to inflict psychological pressure on the Russian military.

Persons: Ostap Organizations: National Resistance Center, Service, Kyiv Post, NRC, Nazi, Allies, CNN Locations: Ukrainian, Ukraine, Russia, Wall, Silicon, Russian, Kyiv

The loss was a result of the closure of its Russian operations in the wake of Moscow's invasion of Ukraine. The previous margin record was set in the second-half of 2017, when it stood at 7%. Renault aims to reach an 8% margin by 2025 and 10% by 2030. The French carmaker on Wednesday agreed with Nissan (7201.T) on a new structure for their decades-old partnership. The Japanese group will invest up to $663 million in Renault's planned electric unit Ampere, while the French carmaker will reduce its Nissan stake to put their relationship on equal footing.

Persons: Luca de Meo, Victor Goury, Gilles Guillaume, Kirsti Knolle, Sharon Singleton Organizations: Renault, TECH Electric, Peugeot, Citroen, Nissan, Volkswagen, Thomson Locations: Dacia, Ukraine, French

Delivering affordable electric vehicles (EVs) has become a priority for car makers worldwide as the shift to cleaner driving has come with high prices, due largely to battery costs. In 2022, Chinese car makers had a 9% share of Europe's EV market, nearly double the previous year's figure, according to forecasts by consultancy Inovev. Tavares said Western car makers needed to use "the same weapons" as their Chinese rivals, sourcing parts in lower cost countries and striking partnerships with battery suppliers that offer the best combination of energy, cost and weight. Once-dominant Western automakers are also striving to regain ground in China itself, the world's largest car market, after losing share to local manufacturers. Mercedes-Benz (MBGn.DE) said on Thursday it was sticking to its strategy and would not engage in a price war to "buy" market share in China.

Persons: France's, Thierry Pieton, Luca de Meo, Tesla, Carlos Tavares, Tavares, Mercedes, Ola Kaellenius, Kaellenius, Victoria Waldersee, Silvia Aloisi, Mark Potter Organizations: Western, France's Renault, Finance, Renault, SAIC, Inovev, Jato, Tesla, Peugeot, Fiat, Benz, Mercedes, Thomson Locations: Europe, U.S, Western, China, Berlin

☆ Stellantis, Samsung SDI set plan to build second US battery plant
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +3 min

Stellantis said the second U.S. battery plant will be the sixth to support the company's goals. "The second plant will accelerate our market penetration into the U.S.," Samsung SDI CEO Yoon-ho Choi said in the statement. In May 2022, Stellantis and Samsung SDI said they would invest more than $2.5 billion to build their first joint battery plant, to open in the first quarter of 2025 in Kokomo, Indiana. Stellantis is also building a joint-venture battery plant in Windsor, Ontario, in Canada with South Korea's LG Energy Solution (373220.KS). Samsung SDI shares extended gains after Monday's announcement, rising to as much as 4.1% versus a 0.8% increase in the benchmark KOSPI (.KS11).

Persons: Carlos Tavares, Stellantis, Ram, Alfa Romeo, Yoon, Choi, Ben Klayman, Heekyong Yang, Christopher Cushing Organizations: Samsung SDI, North, Peugeot, Jeep, Citroen, Opel, Samsung, South Korea's LG Energy, General Motors, United Auto Workers union, Stellantis, GM, Ford, Thomson Locations: Korean, U.S, Europe, Kokomo , Indiana, Indiana, Windsor , Ontario, Canada, Detroit, Seoul

☆ Stellantis and Samsung SDI set plan to build second U.S. battery plant
▼ + stars: | 2023-07-24 | by ( ) www.cnbc.com time to read: +1 min

French-Italian automaker Stellantis and South Korean battery maker Samsung SDI on Monday said they plan to open a second joint-venture plant in the U.S. to build electric vehicle batteries, with a target to start production in 2027. The companies said the transaction still needs to be finalized, and where the plant will be located is under review. Also, how much will be invested at the site and how many people it will employ will be announced later. In 2021, Stellantis said it planned to pump $35 billion into EV production and software globally through 2025. Stellantis said the second U.S. battery plant will be the sixth to support the company's goals.

Persons: Carlos Tavares, Stellantis, Ram, Alfa Romeo Organizations: FCA, Technology Center, Stellantis, Samsung SDI, North, Peugeot, Jeep, Citroen, Opel Locations: Stellantis, Auburn Hills , Michigan, Korean, U.S, Europe

☆ New EV battery plant fuels labor tensions as UAW strike looms deadline
▼ + stars: | 2023-07-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —Stellantis and Samsung SDI announced plans Monday for another EV battery plant joint venture to open in 2027. Four major EV battery plants have opened in recent years and 19 more are planned with Monday’s announcement, according to the UAW. An aerial view of the Stellantis and Samsung Battery Plant construction site in Kokomo, Indiana. Those talks will have to be focused on the wages and benefits for the current UAW members. By comparison, UAW members with top seniority at a Big Three factory get $32.32 an hour, plus an annual bonus and profit sharing.

Persons: New York CNN — Stellantis, Shawn Fain, Stellantis, BEV, Kent Nishimura, ”, it’s, Fain, He’s, “, ” Stellantis Organizations: New, New York CNN, Samsung SDI, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, General Motors, Ford, UAW, don’t, GM, Fiat Chrysler, PSA Group, Peugeot, Opel, Vauxhall, Samsung Battery, Los Angeles Times, Samsung, Big, LG, SK, CNN, ICE Locations: New York, United States, Europe, Kokomo , Indiana, Warren Ohio, Korean, Kokomo

☆ Vingegaard marches towards Tour de France title as Pogacar explodes
▼ + stars: | 2023-07-19 | by ( Julien Pretot | ) www.reuters.com time to read: +3 min

[1/3] Cycling - Tour de France - Stage 17 - Saint-Gervais Mont Blanc to Courchevel - France - July 19, 2023 AG2R Citroen Team's Felix Gall celebrates as he crosses the finish line to win stage 17 REUTERS/Stephane MaheCOURCHEVEL, France, July 19 (Reuters) - Jonas Vingegaard made a giant stride towards a second consecutive Tour de France title when crash-hit rival Tadej Pogacar cracked in the toughest stage of the race on Wednesday. What was a 10-second gap two days ago is now an unbridgeable 7:35 gap after Pogacar huffed and puffed over the line more than five minutes behind Jumbo-Visma leader Vingegaard. "I'm relieved to have more than seven minutes but we're not in Paris yet, there's some tricky stages left, still," said Vingegaard. Vingegaard slowed down and zig-zagged through to continue his demolition work until the line, which he crossed with a big smile on his face. Also why do they let cars pass us when the gap between the groups of riders is just 15 seconds?"

Persons: Gervais Mont, Team's Felix Gall, Stephane Mahe COURCHEVEL, Jonas Vingegaard, Tadej Pogacar, Vingegaard, la, Felix Gall of Austria, Saint Gervais, I'm, Pogacar, Benoot, Marc Soler, Griescha Niermann, Jonas, Thibaut Pinot, Julien Pretot, David Goodman, Mike Harrison Organizations: de, de France, UAE Emirates, Thomson Locations: Gervais Mont Blanc, Courchevel, France, Saint, Paris

☆ Stellantis unveils new platform underpinning move to electric vehicles
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

It has plans to move all its future products onto four new BEV platforms, STLA Small, Medium, Large and Frame, starting with STLA Medium from Europe this year. The STLA Medium platform will support several propulsion configurations; in full electric configuration it will feature a standard range of over 500 kilometres, which can be raised to up to 700 kilometres with a 'performance pack'. "BEV is the focus of the design of this platform," Tavares said. Stellantis said it currently offered 26 models in the market segments which will be served by the STLA Medium platform. Aimed at the mid-sized cars, the STLA Medium platform will be the base for up to two million Stellantis vehicles a year, built in several plants across the world, the Italian-French group said in a statement.

Persons: BEV, Carlos Tavares, Stellantis, Tavares, Ram, Alfa Romeo, Giulio Piovaccari, Keith Weir Organizations: MILAN, Wednesday, Fiat Chrysler, Peugeot, PSA, Citroen, Opel, Thomson Locations: Europe, France, Italy, Germany, North America, Italian

☆ These global and U.S. stocks are set to soar further after a strong first half, analysts say
▼ + stars: | 2023-07-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Among global stocks, Japan was the top performer, with shares up over 16% year-to-date at the mid-year, according to data compiled by Julius Baer, while European stocks gained 7.47%. All of the stocks have a buy rating from at least 60% of analysts covering them. They are also well-loved by analysts, with a more-than 70% buy rating and over 30% potential upside. Baidu also appears on CNBC Pro's screen, with 32% potential upside and a 74% buy rating. Super Hi, the international operator of the wildly popular Chinese hotpot chain Haidilao, also has among the highest potential upside at 51%.

Persons: Julius Baer, Buffett, Morgan Stanley, bullish Organizations: CNBC Pro, Chrysler, Baidu, CNBC, Warner Bros Discovery, MGM Resorts, Caesars Entertainment Locations: Japan, China, Swiss

☆ Mix of calm and concern as cycling's Tour heads into riot-hit France
▼ + stars: | 2023-07-02 | by ( Julien Pretot | ) www.reuters.com time to read: +3 min

After a start in Bilbao, Spain, the Tour heads to France on Monday with visits to Bayonne, Dax, Pau and Bordeaux during the week. Foreign team members have confessed not knowing much about the situation in France, arguing they are in a 'bubble' on the Tour de France. Tour de France organisers say they are ready to adjust to any situation. "I don't really have any comment on it, that's one for the authorities who are working very hard," Rod Ellingworth, the racing director of the Ineos-Grenadiers team, told Reuters. "The organisers did not even mention it at the team meeting (before the start of the race).

Persons: Prudhomme, Rod Ellingworth, Philippe Mauduit, Adrien Petit, Julien Pretot, Christian Radnedge Organizations: SEBASTIAN, Tour de, Tour de France, de France, State, Grenadiers, Reuters, Citroen, Thomson Locations: Spain, Bilbao, France, Bayonne, Dax, Pau, Bordeaux, North

☆ Stellantis to reveal its first Europe-made affordable electric vehicle
▼ + stars: | 2023-06-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Stellantis, the third-largest carmaker in the world by revenue, will reveal its first European-made, affordable electric car in mid-October. The new Citroën e-C3 model will have a 320-kilometre range and a 57-minute "fast charge" capability, Citroën says. The company aims to have a total of 47 battery electric vehicles on the market by the end of 2024, the May press release said. Sales of Stellantis' battery electric vehicles were up 22% year-on-year in the first quarter of 2023, the company reported. Shares of Stellantis were up 0.2% when markets opened at 8.00 a.m. London time Friday.

Persons: Stellantis, Citroën Locations: London

☆ Stellantis to unveil Citroën e-C3, first affordable European-made EV
▼ + stars: | 2023-06-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

PARIS, June 15 (Reuters) - The world's No.3 carmaker Stellantis will unveil its first European-made affordable electric car in mid-October, the new Citroën e-C3, as it gears up to counter the arrival of lower-cost Chinese brands in the European market. Electric vehicles (EVs) are more expensive than their fossil-fuel counterparts and European carmakers plan cheaper models encouraged by government subsidies. That EV subsidy should be unveiled in October for cars to be delivered in 2024, a government source told Reuters. The need for more affordable European models has been driven by Chinese EV brands, which are seen as a threat to European carmakers as they can offer cheaper models. Built on Stellantis' "smart car" architecture introduced in India and Latin America, the vehicle will be assembled in Slovakia and will launch early in 2024, Koskas said.

Persons: Thierry Koskas, Koskas, Gilles Guillaume, Nick Carey, Sharon Singleton Organizations: Reuters, EV, Renault Dacia Spring, Renault, Citroen, Thomson Locations: France, Europe, India, Latin America, Slovakia, China

☆ Stellantis: Brexit deal must change or UK car factories will close
▼ + stars: | 2023-05-17 | by ( ) edition.cnn.com time to read: +3 min

British car factories will be forced to close with the loss of thousands of jobs if the government does not renegotiate its Brexit trade deal immediately, automaker Stellantis warned on Wednesday. “If the cost of EV manufacturing in the UK becomes uncompetitive and unsustainable, operations will close,” Stellantis said in a submission to a House of Commons committee examining the prospects for Britain’s electric vehicle industry. It’s 800,000 jobs in the UK, which is basically those jobs associated with the car industry,” said Palmer, who is also chairman of European battery manufacturer InoBat. Britain has drawn electric vehicle investment from Nissan (NSANF) and Ford (F), while other big players are still weighing up where to invest. Stellantis had announced a 100 million pound ($126 million) electric vehicle investment in its Ellesmere Port site in 2021.

☆ Stellantis warns UK risks exodus of EV production under post-Brexit rules
▼ + stars: | 2023-05-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Stellantis manufactures Vauxhall, Fiat, Opel and other vehicles across two plants in the U.K., employing more than 5,000 people. It plans to move both toward majority and then 100% EV production as it rolls out electrification across its brands. "If the cost of EV manufacturing in the U.K. becomes uncompetitive and unsustainable, operations will close," it said, citing previous decisions by BMW Group to relocate electric Mini production to China, and investments by Honda in EV production in the U.S. following the closure of its U.K. site. However, they will become progressively stricter in the coming years, rising to 45% and then 65% in terms of required domestic production. The company warned the U.K. does not have a sufficient supply of the materials needed to support vehicle battery production.

☆ Change Brexit deal or watch factories close, carmaker Stellantis warns
▼ + stars: | 2023-05-16 | by ( Kate Holton | ) www.reuters.com time to read: +3 min

May 16 (Reuters) - British car factories will be forced to close with the loss of thousands of jobs if the government does not renegotiate its Brexit deal immediately, automaker Stellantis (STLAM.MI) warned on Wednesday. "Manufacturers will not continue to invest and (instead will) relocate manufacturing operations outside of UK, as seen with previously established UK manufacturers such as Ford and Mini." Under the trade deal agreed when Britain left the bloc, 45% of the value of an electric vehicle must come from Britain or the EU from 2024 to avoid tariffs. "If you don't have a battery capability in the UK, then those car manufacturers will move to mainland Europe." Britain has drawn electric vehicle investment from Nissan and Ford, while other big players are still weighing up where to invest.

☆ Stellantis says UK needs to change Brexit deal -BBC
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

Companies Stellantis NV FollowMay 16 (Reuters) - Stellantis (STLAM.MI), one of the world's biggest automakers, has said that UK needs to renegotiate parts of its Brexit deal or risk losing parts of its car industry, the BBC reported on Tuesday. The carmaker urged the government to reach an agreement with the European Union about keeping the current rules till 2027, or else "trade between the UK and EU would be subject to 10% tariffs," BBC quoted Stellantis as saying. Stellantis said its UK investments were based on meeting the strict terms of the post-Brexit free trade deal, citing a submission to a Commons inquiry into electric car production, said the report without mentioning when the statements were made. Under the trade deal, starting 2024, 45% of the value of EVs should originate in the EU or UK to qualify for trade without tariffs, the BBC said. Stellantis' submission says that uncompetitive electric vehicle costs will mean "manufacturers will not continue to invest" and will "relocate manufacturing operations outside of the UK", the report said.

☆ Auto giants are setting their sights on a new growth market for EVs: India
▼ + stars: | 2023-05-04 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

When it comes to electric cars, however, the country is playing a game of catch up. During a recent interview with CNBC's Charlotte Reed, Thierry Koskas accepted that the market in India was "just starting." Citroën India, which launched the fully electric ë-C3 in Feb. 2023, is not alone when it comes to making a move in India's nascent electric car sector. According to the IEA, Tata was responsible for more than 85% of battery electric vehicle sales within India last year. Other Indian firms jostling for position in the sector include Mahindra and Mahindra and Ola Electric.

☆ Citroën Brand CEO: India could be 'absolutely perfect' for electric vehicles
▼ + stars: | 2023-04-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCitroën Brand CEO: India could be 'absolutely perfect' for electric vehiclesThierry Koskas, the CEO of Citroën Brand, speaks to CNBC's Charlotte Reed.

☆ Lack of electric vans opens door for Chinese, other EV makers
▼ + stars: | 2023-04-13 | by ( Nick Carey | ) www.reuters.com time to read: +7 min

[1/3] Tristan Thomas, CEO of Packfleet, demonstrates charging an electric van made by Chinese brand Maxus at the fully-electric package delivery firm's headquarters in London, Britain, October 27, 2022. Packfleet grew tenfold in 2022 and CEO Tristan Thomas said most of the company's 53-vehicle fleet are Maxus vans. SAIC said it sold 18,000 mostly electric Maxus brand vehicles in Western Europe and Scandinavia last year, including buses and pickup trucks. Fleet manager Sean Clifton has 50 additional Ford vans and 20 Maxus vans on order, but will need more soon as Asda electrifies its 1,300 delivery vans. There is no difference in delays for conventional and electric vans at Renault, said commercial vehicle marketing director John Cleworth.

☆ A student used ChatGPT to get out of a $75 parking fine she felt she shouldn't have been issued
▼ + stars: | 2023-04-04 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

A student used AI to write a letter to her council to contest a parking fine. She felt she'd been wrongly fined and wanted to save time by using ChatGPT to write the letter. Generative AI platforms like ChatGPT are also being used to write news articles and novels. Generative AI platforms like these have been used to write news articles, shopping lists, code, and even novels. Houlton said wouldn't use ChatGPT to write assessments because it's not always accurate and universities are cracking down on AI-generated text.

☆ Stellantis' Portugal plant to produce large series fully battery electric compact vans
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

March 31 (Reuters) - Carmaker Stellantis NV (STLAM.MI) said on Friday its Portugal plant would become the first assembly plant in the country to produce large series fully battery electric compact vans by 2025. Stellantis's Mangualde Production Center, which has made over 1.5 million vehicles, will produce battery electric light commercial vehicles for Citroën, Fiat, OPEL and Peugeot, the company said in a statement. Stellantis, the world's third-largest automotive group by sales, planned to spend over 30 billion euros ($32.53 billion) through 2025 to electrify its vehicle lineup and boost its software content to catch up with rivals, including Tesla Inc (TSLA.O). Stellantis was created through the $52 billion merger of Fiat Chrysler and Peugeot maker PSA in 2021. ($1 = 0.9223 euros)Reporting by Chandni Shah and Maria Ponnezhath in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Ford and GM follow Tesla's lead and wade into China price war by offering big discounts to boost sales, report says
▼ + stars: | 2023-03-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Ford and GM are among dozens of carmakers offering deep discounts on cars in China to boost sales. Tesla was among the first to slash its prices after China ended its electric vehicle subsidies. Tesla was one of the first carmakers to cut prices in the US and Europe as well as China. In January it cut US prices of the Model 3 sedan by 14% and Model Y by 20%. It then lowered prices this month on the Model S sedan by $5,000 and its Model X by $10,000.

☆ Volkswagen joins China price war as new emissions rule looms
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

Guangzhou Automobile Group, the Chinese partner of both Honda Motor Co Ltd and Toyota Motor Corp (7203.T), has also offered subsidies running from March 15 to March 31. Chinese passenger vehicle sales fell 20% in January-February, industry data showed, even as some manufacturers offered reduced prices to stimulate demand. Sales of new energy vehicles, which include all-battery and plug-in battery-petrol hybrid vehicles, grew faster than the overall market, accounting for over 30% in February. In the same month, Chinese electric vehicle maker BYD Co Ltd (002594.SZ) outsold Volkswagen-branded cars for the second month in four. ($1 = 6.8923 Chinese yuan renminbi)Reporting by Zhang Yan and Brenda Goh; Editing by Himani Sarkar and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Ford, GM Engage in China Price War as Car Sales Slump
▼ + stars: | 2023-03-17 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

Ford has cut about $6,000 off its Mustang Mach-E until the end of April, according to online sales promotions. HONG KONG—Auto makers and dealerships in China are slashing prices after the lifting of pandemic controls failed to reverse slumping demand in the world’s largest car market. Companies including Ford Motor Co., BMW Group and Volkswagen AG are offering deep discounts and promotions on electric vehicles after China phased out its nationwide subsidies for EVs. Others including General Motors Co. and the maker of Citroën are slashing prices on their gas-powered cars.

☆ Stellantis in talks to assemble electric cars in Spain, Cinco Dias reports
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: 1 min

MADRID, March 13 (Reuters) - Stellantis (STLAM.MI) is in talks with the Spanish government regarding the production of small electric vehicles in the country, newspaper Cinco Dias reported on Monday citing unidentified sources at the Industry Ministry and the carmaker. The company is negotiating with the government conditions of state aid to be granted to the project, the newspaper said. A ministry spokesperson was not immediately able to comment and Stellantis did not immediately respond to a request for comment. Stellantis has plants in the cities of Madrid, Vigo and Zaragoza where it assembles Opel, Citroen and Peugeot cars. Reporting by Inti Landauro; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

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