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☆ 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

☆ Explainer: How France aims to discourage buying of Chinese EVs
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +4 min

WHY IS FRANCE REVISING ITS EV BONUS ELIGIBILITY RULES? However, in the absence of cheap European-made EVs, a third of all incentives are going to consumers buying EVs made in China, a French finance ministry source said. Because Chinese industry generally relies heavily on coal-generated electricity, the criteria are likely to put the bonus out of Chinese carmakers' reach. But French car buyers will have to wait because Stellantis' (STLAM.MI) Slovakia-made e-C3 city car and Renault's (RENA.PA) France-made R5 are not due to hit the market until 2024. The model is currently one of the best-selling electric car's in France with the Tesla Y, Peugeot's e-208, Fiat's 500e, the Megane eTech and MG4.

Persons: Angelika Warmuth, EVs, Emmanuel Macron, Stellantis, MG4, Lorraine Morard, Luca De Meo, Tesla, BYD, Gilles Guillaume, Leigh Thomas, Sharon Singleton Organizations: Company, REUTERS, Rights, Reuters, SAIC, P Global, Renault, Thomson Locations: Munich, Germany, France, China, Europe, FRANCE, French, Slovakia, Dacia Spring

☆ Opinion: Musk, McCarthy and Romney are three kinds of leaders
▼ + stars: | 2023-09-17 | by ( Richard Galant | ) edition.cnn.com time to read: +21 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. A vain and ambitious cigar-smoking bully who wore riding breeches, a polished helmet and boots and carried ivory-handled revolvers, he led troops on successful lightning strikes through German-held territory near the end of World War II. Musk has repeatedly been criticized for enabling and boosting antisemitic content on the platform.”“Isaacson tries to square these two Musks. During Trump’s first impeachment, Romney became the first senator in US history to vote to remove a president of his own party from office. He has been willing to do what he believes to be right — consequences be damned.”The differences between Romney and Trump were many.

Persons: CNN — “ Troy, Hadrian, …, ”, George S, Patton, “, Stephen D, Clay Jones, Elon Musks, Elon, Nicole Hemmer’s, Walter Isaacson, Musk “, Musk, ” “ Isaacson, Isaacson, ” Hemmer, Walt Handelsman, Kevin McCarthy, Donald Trump, McCarthy, Joe Biden, “ Trump, impeaching Biden, Norman Eisen, Trump, ” Eisen, Biden, James Antle III, ’, Hunter, McCarthy “, John Avlon, Dennis Aftergut, Lindsey Graham wasn’t, Michelle Lujan Grisham, she’s, Hunter Biden, Robert J, Spitzer, It’s, ” Vladimir, Kim, Vladimir Putin, Kim Jong, Frida Ghitis, Putin, vaingloriously, Peter the Great, Sébastien Roblin, Don’t, Romney Francis Chung, AP Sen, Mitt Romney, Romney, Sen, John McCain, Trump’s, Lanhee J, Chen, Lisa Benson, Kate Bahn, ’ I’m, —, Dana Peterson, Erik Lundh, ” Dana Summers, Kunis Mila Kunis, Ashton Kutcher, Mila Kunis, Danny Masterson, Jill Filipovic, “ Kutcher, Kunis, Kutcher, Masterson, Danilo Cavalcante, Arick, Scott Stantis, Jeff Yang, Jets Phil Hands, Julian Zelizer, Aaron Rodgers ’, ” Don’t, Nick Anderson, Tess Taylor, Tommy Tuberville, Mahnaz, Roxanne Jones, Coco Gauff, Amanda Tyler, Lara Setrakian, Paul Hockenos, Don Lincoln, Sophia Nelson, Tim Scott, Kenneth Branagh, Agatha Christie’s, Hercule Poirot, Noah Berlatsky, Poirot, Branagh, Sara Stewart, Winona Ryder Organizations: CNN, US, Marine Corps, Third Army, Vostochny, Twitter, Defamation League, Agency, Caucus, Republicans, Democrats, White, North, Putin, AP, Senate, Hollywood, Motors, Ford, Chrysler, Dodge, Peugeot, United Auto Workers, UAW, “, Federal Reserve, Conference Board, Ninth, Academy Museum of Motion Pictures, REUTERS, Reuters, Apple, European Union, Jets, Boston Red Sox, The Chicago Cubs, The New York Jets, New York Jets, MetLife, Tribune, Studios Locations: China, Washington, New Mexico, Detroit, Russia’s, South Africa, Hunter Biden’s, Albuquerque, Bernalillo County, Russia, Ukraine, ”, Los Angeles , California, U.S, Aude, Pennsylvania, Brazil, Cupertino , California, Iran, New Texas, Venice

☆ Why Stellantis could face a longer strike than Ford or GM
▼ + stars: | 2023-09-15 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

The United Auto Workers labor union launched targeted strikes against the three Detroit automakers early Friday morning. It's the first time in history that the UAW has struck all three of the Detroit automakers at once. GM's Cadillac and Chevrolet brands had just 46 days' and 51 days' worth of vehicles, respectively; the Ford brand had 77 days' worth. Historically, the Detroit automakers have tended to have somewhat larger supplies on hand because their full-size pickups are offered in many different configurations. In contrast to the strike against Stellantis, the UAW's strike against Ford could be relatively brief.

Persons: Ford, Stellantis, GM's, Shawn Fain Organizations: United Auto Workers, Detroit, Ford Bronco, Chevrolet, UAW, Ford Motor, General Motors, Fiat Chrysler Automobiles, French, Peugeot, Cox Automotive, Ford, Detroit automakers, Stellantis, Ford's, Plant Locations: Chevrolet Colorado, U.S, Ford's Michigan, Wentzville , Missouri, Toledo , Ohio

DETROIT (AP) — Stellantis is reporting progress in talks with the United Auto Workers union with just three days left before contracts expire with Detroit's three automakers. Stellantis released no details of its offer Monday. Political Cartoons View All 1148 ImagesUAW President Shawn Fain on Friday called counter offers from Stellantis, General Motors and Ford inadequate. “When the CEOs are ready to make a serious offer, we’ll be there, day or night,” he said. Stellantis offered wage increases in each year of a new four-year contract totaling 14.5%.

Persons: Tobin Williams, Stellantis, ” Williams, “, Shawn Fain, Fain, we’ll, ”, GM’s, we’ve, ” Fain Organizations: DETROIT, United Auto Workers, General Motors, Ford, Fiat Chrysler, France’s PSA Peugeot, UAW Locations: North America, Stellantis, Korean

☆ 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

DETROIT (AP) — The United Auto Workers union on Friday rejected wage and benefit offers from all three Detroit automakers, raising tensions just six days before a strike deadline for 146,000 employees. Union President Shawn Fain told workers in a Facebook Live appearance that he filed proposals from Ford, General Motors and Stellantis in a wastebasket. Stellantis offered wage increases in each year of a new four-year contract totaling 14.5%. To handle inflation, Ford offered cost of living pay that he called severely deficient, while GM and Stellantis offered lump sums. All companies kept tiers of wages for factory workers but lowered the number of years needed to reach full pay, he said.

Persons: Shawn Fain, ”, Fain, Stellantis, counterproposal, GM’s, Mark Stewart, Stewart, ” Fain, “ Organizations: DETROIT, United Auto Workers, Detroit, Union, General Motors, Fiat Chrysler, Ford, France's PSA Peugeot, U.S, GM Locations: Ford, North America, Stellantis

☆ 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

Western automakers are rattled, with Carlos Tavares, the CEO of Peugeot-to-Fiat carmaker Stellantis (STLAM.MI), warning last month of an "invasion" of cheap Chinese EVs in Europe. But Chinese brands are likely to struggle to sell cars in Europe as cheaply as at home. CONSUMER TRUSTWhile some Chinese brands, such as MG, are well known in Europe, others like XPeng (9868.HK) and Nio need to build trust. Surveys indicate most potential EV buyers in Europe do not recognise Chinese brands. But among those aware of Chinese brands, 1% or fewer would consider buying one.

Persons: Annegret, Carlos Tavares, Chen Shihua, ” Shihua, Spiros Fotinos, Alexander Klose, BYD, Geely’s Lynk, Tesla, Aiways, Zeekr's Fotinos, ” Fotinos, Klose, Victoria Waldersee, Zhang Yan, Gilles Gillaume, Giulio Piovaccari, Mark Potter Organizations: REUTERS, HK, Allianz . Western, Peugeot, Fiat, EV, New Energy Vehicle, Jato Dynamics, Logistics, Geely, South Korean, YouGov, GAC, Victoria, Thomson Locations: Berlin, Germany, Europe, BERLIN, China, Beijing, Munich, Milan

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

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