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☆ 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

☆ 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

☆ Ford, GM and Toyota push into midsize pickup trucks, the latest battleground for U.S. automakers
▼ + stars: | 2023-05-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

Midsize pickup trucks are following the lead of their larger, full-size counterparts such as the Ford F-150, Chevrolet Silverado and Toyota Tundra. While the Detroit automakers dominate large pickup truck sales, Toyota Motor is the clear leader in midsize pickup truck sales with its Tacoma. Toyota has commanded a roughly 40% share of the American midsize pickup truck segment since 2019, when Ford and Jeep reentered the market, Edmunds reports. Edmunds reports the Detroit automaker's share of the U.S. midsize pickup segment last year was about 19%, followed by Stellantis ' Jeep Gladiator at 12.8% and the Nissan Frontier at 12.5%. Varying strategiesAutomakers' sales volumes speak to their diverging strategies in the midsize pickup truck segment.

☆ 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.

☆ Key Fed meeting and jobs data are ahead
▼ + stars: | 2023-04-30 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

In the spotlight are the Federal Reserve’s May meeting and the April jobs report. Federal Reserve Chairman Jerome Powell will likely face questions about credit conditions, in addition to the central bank’s inflation strategy. What’s at stake with the April jobs report: Economists expect the Bureau of Labor Statistics’ April jobs print to show slower employment growth last month and a rising unemployment rate. Wednesday: Federal Reserve interest rate decision, Chairman Jerome Powell’s press conference and April ADP private payroll report. Friday: April jobs report and March consumer credit.

☆ Jeep unveils 2024 Wrangler SUV in next stage of off-road sales battle with Ford Bronco
▼ + stars: | 2023-04-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

The 2024 Jeep Wrangler features an evolutionary exterior design, which is typical for the quintessential SUV, and a redesigned interior that includes additional safety, convenience and tech features such as a 12.3-inch center control screen. In addition to the interior upgrades, the 2024 Wrangler will offer additional off-road features such as larger tires and an 8,000-pound-capacity warn winch. 2024 Jeep Wrangler Rubicon 392 (left) and Wrangler Rubicon X 4xe JeepJeep, specifically with the Wrangler, has long dominated the off-road SUV segment. 2024 Jeep Wrangler interior JeepThe Wrangler 4xe has been the bestselling PHEV in the U.S. for the past two years, according to the company. The 2024 Jeep Wrangler will be available in Sport, Willys, Sahara, High Altitude, Rubicon and Rubicon 392 models.

☆ Stellantis to invest $155 million in U.S. to produce new electric drive modules
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

Companies Stellantis NV FollowMILAN, Feb 28 (Reuters) - Stellantis (STLAM.MI) said on Tuesday it will invest a total of $155 million in three plants located in Kokomo, Indiana, to produce new electric drive modules (EDM) that will be fitted in electric vehicles which the carmaker will assemble in North America. "With the investment, more than 265 jobs will be retained across all three plants," it said. Stellantis aims to have battery electric vehicles (BEV) account for 50% of its sales in the U.S. by 2030. Stellantis was created through the $52 billion merger of Fiat Chrysler and Peugeot maker PSA in 2021. Reporting by Giulio Piovaccari; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Honda issues 'Do Not Drive' warning for 8,200 U.S. vehicles over air bag risks
▼ + stars: | 2023-02-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Kim Kyung-HoonWASHINGTON, Feb 3 (Reuters) - Honda Motor Co (7267.T) on Friday issued a "Do Not Drive" warning for 8,200 model year Acura and Honda vehicles with unrepaired Takata air bag inflators in the United States. The urgent warning covers various 2001-2003 model year Honda Accord, Civic CR-V and Odyssey, Pilot and Acura 3.2CL and 3.2 TL vehicles with so-called "Alpha" inflators. More than 30 deaths worldwide - including at least 23 U.S. fatalities - and hundreds of injuries in various automakers' vehicles since 2009 are linked to Takata air bag inflators that can explode, unleashing potentially deadly metal shrapnel inside vehicles. NHTSA said last month a February death of the driver of a 2002 Accord in Bowling Green, Kentucky, was due to a faulty air bag inflator. In November, Chrysler parent Stellantis (STLA.MI) urged owners of 276,000 older U.S. vehicles to immediately stop driving after three crash deaths tied to faulty Takata air bag inflators were reported.

☆ Mexico in talks with top carmakers to make electric vehicles, foreign minister says
▼ + stars: | 2023-02-03 | by ( Stefanie Eschenbacher | ) www.reuters.com time to read: +3 min

MEXICO CITY, Feb 3 (Reuters) - Mexico is gearing up to build several manufacturing hubs for electric vehicles across the country, Foreign Minister Marcelo Ebrard told Reuters, and is in talks with some of the world's top carmakers. Ebrard said in an interview late on Thursday that Mexico was keen to capitalize on the global shift to electric vehicles. "What they are more concerned about is having a guaranteed supply of clean energy, having water, having the personnel they need, facilitate electric power transmission lines," he said. Harald Gottsche, head of the BMW plant in the state of San Luis Potosi, which will produce fully electric cars, said Mexico also needs to push the consumer shift to electric vehicles. In addition to electric vehicles, Ebrard said he was also keen to attract more semiconductor and battery businesses - and build out transport infrastructure in the port of Coatzacoalcos, in the Gulf of Mexico.

☆ Watch these stocks as the electric vehicle battery market grows more concentrated, Goldman Sachs says
▼ + stars: | 2023-01-31 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

The electric vehicle market will continue growing, and Goldman Sachs sees specific ways to play that in the battery market. He expects electric vehicle adoption to hit 61% by 2040. One major winner thus far has been electric vehicle battery makers, he said, as pricing power has supported higher earnings. He said the battery market is becoming increasingly concentrated, with the top five battery makers accounting for 83% of the market. GM said Tuesday it would invest $650 million in a lithium company in support of its electric vehicle business.

The company offered a positive outlook in the North American market, where it sees a growing number of customers requesting made-in-USA batteries to be qualified for federal EV subsidies. The company had secured additional orders worth about 20 trillion won in the fourth quarter, Chief Financial Officer Lee Chang-sil added. LGES reported operating profit of 237 billion won ($193 million) for the October-December period, versus 76 billion won a year earlier. That compared with an average analyst forecast of 256 billion won compiled by Refinitiv SmartEstimate. Revenue for the quarter rose 92% to 8.5 trillion won, LG Energy said in a regulatory filing.

☆ Stellantis recalls 76,000 plug-in hybrid minivans over engine issue
▼ + stars: | 2023-01-24 | by ( David Shepardson | ) www.reuters.com time to read: +1 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 PhotoWASHINGTON, Jan 24 (Reuters) - Automaker Stellantis' (STLA.MI) U.S. unit said on Tuesday it was recalling 76,000 plug-in hybrid electric minivans because of a short circuit issue that could cause engines to stall unexpectedly. The recall covers 67,000 2017 to 2023 Chrysler Pacifica Hybrid minivans in the United States and about 9,000 in other countries. Stellantis said it was aware of six customer assistance records, 242 warranty claims and 59 field reports potentially related to this issue but was unaware of any accidents or injuries potentially related to the recall. The automaker will update the power inverter software and, if needed, update the instrument panel cluster software.

☆ Carmaker Stellantis strikes nickel sulphate supply deal with Terrafame
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

PARIS, Jan 18 (Reuters) - Carmaker Stellantis (STLA.MI) and Finnish company Terrafame announced on Wednesday that they had struck a deal whereby Terrafame will supply Stellantis with nickel sulphate over a five-year period, starting from 2025 onwards. "This agreement is part of the key raw material sourcing to fit with our electrified vehicle battery pack needs,” Stellantis Chief Executive Carlos Tavares said in a statement. The carmaker said the agreement with Terrafame "willcover a significant portion of the needs for sustainable regionally sourced nickel." Last week, Stellantis struck a deal with Australian miner Element 25 (E25.AX) for the supply of manganese sulphite, the latest in a series of accords for the procurement of raw materials for electric batteries. Reporting by Sudip Kar-Gupta and Alvise Armellini, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Agnelli warns of Premier League dominance as he quits Juventus
▼ + stars: | 2023-01-18 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +4 min

SummarySummary Companies Agnelli warns Premier League will marginalise rivalsStepping down from Juventus and two other board rolesNew Juventus board faces legal battle over accountsTURIN, Italy, Jan 18 (Reuters) - Outgoing Juventus <JUVE.MI> Chairman Andrea Agnelli, who could face trial over the club's accounting, signed off on Wednesday with a plea for reform of European soccer to counteract the power of the English Premier League. As well as leaving Juventus, Agnelli also said he would step down from his board roles at carmaker Stellantis (STLA.MI) and Exor (EXOR.AS), the Agnelli family holding company which controls the football club. Prosecutors in Turin have requested that Agnelli, 11 other people and the club stand trial over allegations of false accounting. "I believed and still believe that European soccer needs structural reforms to tackle the future," he said. Andrea Agnelli retains his role as board member at Giovanni Agnelli B.V., Exor's controlling shareholder, which groups all descendants of Fiat founder Giovanni Agnelli.

☆ Stellantis, Vulcan Energy to develop renewable energy assets in Germany
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

Jan 17 (Reuters) - Automaker Stellantis (STLA.MI) has teamed up with lithium group Vulcan Energy Resources (VUL.AX) to develop geothermal energy projects in Germany to help decarbonise production of electric vehicles at Rüsselsheim, the two companies said on Tuesday. Stellantis' Rüsselsheim facility is where the world's third largest carmaker by sales produces its DS 4 and Opel Astra models. War in Ukraine has tightened Europe's energy supply, causing uncertainty for manufacturers already suffering from strained supply chains for raw materials and components such as semiconductors. Stellantis CEO Carlos Tavares said the partnership with Vulcan reinforced the group's commitment to greater use of cleanenergy. The carmaker, formed two years ago through the merger of Fiat Chrysler and Peugeot maker PSA, already has a deal with Vulcan for lithium supply from the miner's project in the Upper Rhine Valley in Germany.

☆ Factbox: European companies cut jobs as economy sputters
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Stephane MaheJan 17 (Reuters) - Decades-high inflation and the impact of war in Ukraine have forced companies across Europe into lay-offs or hiring freezes. * HUSQVARNA (HUSQb.ST): the garden equipment and tools maker announced in late October it will cut 1,000 jobs, the vast majority of them related to the shift from petrol to battery-powered tools. * SIEMENS GAMESA (SGREN.MC): the Spanish wind turbine maker in late September said it plans to cut 2,900 jobs, mostly in Europe, as part of a plan to return to profitability. * CLAS OHLSON (CLASb.ST): the Swedish hardware store chain said in December it would cut about 85 full-time jobs amongst other measures to deliver cost savings and reduced depreciation. BANKS AND FINANCIALS* KLARNA: Dagens Industri reported in May the Swedish payments company would lay off about 10% of its 7,000 employees.

☆ U.S. agency plans to propose new fuel economy standards in April
▼ + stars: | 2023-01-11 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Jan 10 (Reuters) - The National Highway Traffic Safety Administration (NHTSA) plans to propose new fuel economy standards for the 2027 model year and beyond in April which could dramatically reshape new cars on America's roads. The Environmental Protection Agency (EPA) has said it plans to introduce companion stringent vehicle greenhouse gas emissions standards from 2027 through at least the 2030 model year by March. In March 2020, Trump's Republican administration rolled back then-President Barack Obama's standards to only 1.5% annual increases in efficiency through 2026. In March, NHTSA reinstated a sharp increase in penalties for automakers whose vehicles do not meet Corporate Average Fuel Economy (CAFE) requirements for model years 2019 and beyond. The company then known as Fiat Chrysler paid $152.3 million in total CAFE fines for 2016 and 2017 model years.

☆ Honda's JV with GAC ends production of Acura brand in China
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

GAC will continue to provide after-sales services to Acura customers in China through the joint venture's network, it said in a statement to Reuters. The joint venture will continue to produce other Honda brands. Acura is the second foreign car brand to exit China, the world's largest auto market, in recent months. In October GAC said it was closing its joint venture with Stellantis (STLA.MI), which made Jeep vehicles, following a sharp decline in Jeep sales in China over the past four years. GAC-Honda, which started producing Acura cars in 2016 in China, only sold 6,554 of them in the country in 2021, down 45% from the previous year.

☆ Carmaker Stellantis seals batteries material deal with Element 25
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

MILAN, Jan 9 (Reuters) - Carmaker Stellantis (STLA.MI) has signed a deal with Australian miner Element 25 (E25.AX) for the supply of manganese sulphite for batteries for its electric vehicles (EVs), the two companies said on Monday. Based on the five-year binding agreement announced on Monday, Element 25 will supply Stellantis with high-purity manganese sulphate monohydrate to be used in battery packs. Element 25 will source the material from its Butcherbird project in Western Australia and plans to construct a processing facility in the United States. Stellantis, meanwhile, will make an equity investment in Element 25, the two companies added in a statement. "Our commitment to a carbon net-zero future includes creation of a smart supply chain to ensure we meet our customers' desire for EVs," Stellantis CEO Carlos Tavares said.

[1/2] The rear light of a Dacia Spring electric car is pictured during the Brand Manifesto Dacia event at Le Bourget near Paris, France, September 13, 2022. It also points to the shifting perception of the auto market in India, which posted the fastest growth of any major market in 2022. Renault is studying launching a made-in-India electric version of its Kwid hatchback, the people told Reuters. To qualify for incentives in India, Renault would have to build the car at its alliance plant in southern India and source components locally, the first person said. As a part of the India reboot, Renault also plans to invest in refurbishing and upgrading some of its major dealerships in big cities, the person said.

☆ Mercedes expects double-digit growth in India in 2023 despite weak rupee
▼ + stars: | 2023-01-08 | by ( Aditi Shah | ) www.reuters.com time to read: +2 min

NEW DELHI, Jan 8 (Reuters) - Mercedes Benz (MBGn.DE) expects double-digit sales growth in India this year, despite concerns that a weaker rupee could increase car prices, the head of its local unit said in an interview. So that's some headwind we see when it comes to the growth potential," Iyer said. "But we are starting the year with a very healthy order bank and that gives us the confidence of a double-digit growth even for 2023," said Iyer. Mercedes plans to launch 10 new cars in India in 2023, most costing more than 10 million rupees ($120,000), the top-end segment that grew 69% in 2022. The company launched three EVs in India in 2022 including a locally assembled, electric model of its flagship S-Class sedan.

☆ European shares head for best week since November, inflation data in focus
▼ + stars: | 2023-01-06 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) was flat by 0915 GMT. For the week so far, it was up 3.4% following a drop in natural gas prices and upbeat economic data. All eyes are on the December euro zone inflation data due at 1000 GMT, with economists expecting prices to have declined year-on-year for a second consecutive month. "Inflation readings in the euro zone were not all good news, and core inflation remains high," analysts at UBS Global Wealth Management said in a note. "Despite the encouraging data (this week), we expect central banks to stick with a hawkish stance at this time."

Companies Stellantis NV FollowJan 5 (Reuters) - Chrysler parent Stellantis NV (STLA.MI) Chief Executive Officer Carlos Tavares said on Thursday that more auto plant closures will happen if high prices for electric vehicles cause vehicle markets to shrink from pre-pandemic levels. Automakers will risk losing pricing power as chip supplies recover, Tavares said at the CES technology trade show in Las Vegas. Stellantis said last month it would indefinitely idle an assembly plant in Belvidere, Illionois, citing high costs for electric vehicles. Tavares told reporters said similar actions "will happen everywhere as long as we see high inflation of variable costs." The company had flagged that increasing costs related to the electrification of the automotive market as the most impactful challenge affecting the auto industry.

☆ Carmaker Stellantis creates new data services business
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

Companies Stellantis NV FollowJan 5 (Reuters) - Carmaker Stellantis (STLA.MI) said on Thursday it was establishing a new business unit to help expand its data services business, part of its plans to boost revenue from software-related activities over the next decade. The new unit, called Mobilisights, will license data to a wide range of customers including rival carmakers, drawing on Stellantis' connected vehicles, which are expected to total 34 million by 2030, up from around 12 million now. It is the second of seven new value-added business units planned by Stellantis, whose brands include Fiat, Peugeot and Jeep. The first was the Circular Economy business, aiming to make more use of recycled material in production. Overall, Stellantis is aiming to double revenue to 300 billion euros a year by 2030, at the same time as keeping profit margins high.

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