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☆ Corporate Climate Plans Fall Well Short of Targets, With a Few Bright Spots
▼ + stars: | 2023-02-13 | by ( Dieter Holger | Carbon Market Watch S Executive Director Sabine Frank | ) www.wsj.com time to read: +6 min

The climate plans of major companies continue to fall short—but there are some bright spots. The net-zero plans of Holcim and H&M have also won approval from the Science Based Targets initiative. Decent disclosureWhile scope 3 emissions can be challenging to calculate and control, having net-zero plans that cover the complete value chain is best practice. Apple, iPhone manufacturer Foxconn Technology Co. and H&M were all noted for helping their suppliers to access renewable energy either with financial support, advice or connecting deals. The retailer has worked with suppliers to reduce packaging waste and to adopt farming practices that sequester greenhouse gases, as well as helping them access renewable energy.

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.

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.

☆ 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."

☆ 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.

☆ Stellantis CEO delivers a technology statement with a Ram truck
▼ + stars: | 2023-01-05 | by ( Joseph White | ) www.reuters.com time to read: +2 min

The electric "Ram 1500 Revolution," unveiled at CES in Las Vegas, is a one-of-a-kind show vehicle meant to whet appetites for a production model due in 2024. It will arrive after rivals' offerings in one of the most important segments of the North American electric vehicle market. The real electric Ram truck will launch more than two years after the smaller Rivian (RIVN.O) R1T electric pickup and Ford's (F.N) F-150 Lightning electric truck. Tesla CEO Elon Musk has said the long-delayed Cybertruck will launch this year from a factory in Texas. ($1 = 0.9479 euro)Reporting by Joe White in Las Vegas Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ China has a 10,000 euro cost advantage in small EVs, auto supplier says
▼ + stars: | 2023-01-05 | by ( Joseph White | ) www.reuters.com time to read: +3 min

The issue is "more dangerous" for Europe than the United States, Koller told Reuters in an interview, as high duties have limited China's U.S. market share. Koller said Chinese EV makers can produce vehicles for less because they have lower research and development costs, lower levels of capital spending and lower labour costs than rivals in Europe. Forvia, the company created when French auto supplier Faurecia took 82% control of German supplier Hella, is the seventh largest automotive component maker in the world. By contrast, high duties in the United States on Chinese-made vehicles have so far kept China's share of the U.S. auto market negligible. Koller said Forvia will invest more in the United States, in part to take advantage of federal incentives provided in the Inflation Reduction Act signed into law in August.

☆ Jeep-Maker Stellantis to Build Flying Taxis With Archer Aviation
▼ + stars: | 2023-01-04 | by ( Ryan Felton | ) www.wsj.com time to read: 1 min

Stellantis NV, the global auto-making company that owns Jeep, Ram and other well-known car brands, is getting into the aircraft-manufacturing business, striking a deal with Archer Aviation Inc. to help it build an electric flying taxi. The two companies said Wednesday that Stellantis would help Archer, a publicly traded air-mobility company established in 2018, to manufacture its first production aircraft at a factory the aviation company plans to build in Georgia.

☆ Jeep Maker Stellantis Downshifts Ambitions in China
▼ + stars: | 2022-12-17 | by ( Ryan Felton | ) www.wsj.com time to read: 1 min

When he took over Jeep maker Stellantis NV nearly two years ago, Chief Executive Carlos Tavares made it among his top priorities to jump-start the auto maker’s China business. Now, he is scaling back those ambitions. Stellantis, which was formed through the merger of France’s PSA Group and Fiat Chrysler Automobiles NV in January 2021, had given priority to efforts to boost its relatively meager sales in China. Mr. Tavares said shortly after the merger that Stellantis would remain in the country long term and would devise a strategy to become successful in the world’s largest car market by vehicle sales.

☆ U.S. agency opens safety probes into Honda, Jeep, Ram vehicles
▼ + stars: | 2022-12-06 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/File PhotoWASHINGTON, Dec 6 (Reuters) - The U.S. National Highway Traffic Safety Administration (NHTSA) is opening new safety probes into 1.72 million Honda vehicles, 230,000 Jeeps and 390,077 Ram trucks. The largest probe covers reports alleging a loss of power for more than 1.7 million U.S. 2018-2022 model year Honda CR-V and HR-V vehicles. NHTSA is also investigating 390,000 2017-2018 model year Ram 2500-3500 pickup trucks after received 134 reports alleging an intermittent or permanent loss of braking performance. A U.S. spokesman for Stellantis NV (STLA.MI), the parent company of Jeep and Ram, said it was fully cooperating in the investigations. There are no crashes or injuries reported in relation to any of vehicles in the three new investigations to date.

☆ Ford must bring more work in-house to preserve jobs - CEO
▼ + stars: | 2022-11-15 | by ( Joseph White | ) www.reuters.com time to read: +2 min

[1/2] Ford CEO Jim Farley attends the official launch of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, U.S. April 26, 2022. Electric vehicles will require 40% less labor to build than current combustion vehicles, Farley told a conference in Detroit sponsored by the Rainbow PUSH Coalition, a civil rights group. Bringing production of electric vehicle motors, batteries and other components in-house was necessary to preserve jobs and to be competitive, Farley said. 1 U.S. electric vehicle maker, builds much of the hardware for its electric vehicles, including batteries. Ford has begun building an electric vehicle manufacturing complex in Western Tennessee called Blue Oval City.

☆ Stellantis Unit Urges Some Dodge and Chrysler Owners to Stop Driving After Air Bag Deaths
▼ + stars: | 2022-11-03 | by ( Ryan Felton | Dean Seal | ) www.wsj.com time to read: 1 min

Getting air bags replaced in the recalled vehicles takes about an hour. A Stellantis NV subsidiary is urging owners of certain Dodge and Chrysler vehicles to fix open recalls on these models, after reports that three people were killed by exploding Takata air bags. FCA US LLC, a unit of the global auto maker, had recalled about 276,000 Dodge and Chrysler models in 2015 to fix air bags that were known to rupture upon deployment, flinging metal shards into the vehicle’s cabin.

☆ Jeep Owner Stellantis’s China Joint Venture to File for Bankruptcy
▼ + stars: | 2022-10-31 | by ( Selina Cheng | P.R. Venkat | ) www.wsj.com time to read: 1 min

HONG KONG— Stellantis NV said its unprofitable joint venture that made and distributed the Jeep brand in China will file for bankruptcy, a move that follows the European auto giant’s failure to reverse its dwindling sales in the country. Stellantis said it would continue to provide services to existing and future Jeep brand customers in China. It had impaired the value of its investment in the joint venture and other related assets in its first-half financial results, the company said.

☆ Jeep-Owner Stellantis Offers Buyouts to U.S. Salaried Workers
▼ + stars: | 2022-10-28 | by ( Ryan Felton | ) www.wsj.com time to read: 1 min

Stellantis NV, the global parent of Jeep, Chrysler and other auto brands, said Friday it is offering voluntary buyouts to U.S. salaried employees as part of a restructuring to sharpen focus on new technologies and low-emissions vehicles. The car company said it is offering the buyouts to certain white-collared employees this month with benefit packages that wouldn’t otherwise be available to them. The offers target employees with 30 years of experience and a pension, as well as those who are 55 years or older with 10 years of service, even if they aren’t eligible for a pension.

☆ Chrysler parent Stellantis offering U.S. salaried buyouts
▼ + stars: | 2022-10-28 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

Oct 28 (Reuters) - Chrysler parent company Stellantis NV (STLA.MI) said Friday it has offered voluntary buyouts to some of its 13,000 U.S. salaried employees. Salaried workers age 55 or older who have been with the automaker at least 10 years are eligible. 2 U.S. automker had too many people, and that not enough of its workforce had the skills required as the auto industry shifts to electric vehicles and digital services. Earlier this year the Detroit automaker said it was slowing hiring and only replacing key departures or critical needs. Reporting by David Shepardson; editing by Jonathan Oatis and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Delta Air invests $60 mln, takes stake in air taxi startup Joby Aviation
▼ + stars: | 2022-10-11 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The Joby Aviation logo is seen outside of the New York Stock Exchange (NYSE) ahead of their listing in Manhattan, New York City, U.S., August 11, 2021. REUTERS/Andrew KellyWASHINGTON, Oct 11 (Reuters) - Delta Air Lines (DAL.N) said Tuesday it invested $60 million in air taxi startup Joby Aviation (JOBY.N) for a 2% equity stake, in a partnership that will initially offer passengers air taxi transport to and from airports in New York and Los Angeles. Joby has said it plans to launch air taxi service in 2024. Delta does not plan, however, to operate Joby aircraft, Bastian said. He said he hopes at some point the air taxis will be able to land on the tarmac to speed journeys.

☆ Factbox: Automakers accelerate drive to secure battery raw materials
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

read more08-Dec-2021 - Belgium's Umicore (UMI.BR) will supply cathode materials for Volkswagen's European battery cell factories under a joint venture. MERCEDES BENZ (MBGn.DE):23-Aug-2022 - Mercedes-Benz strikes cooperation agreement with Canada to secure access to lithium, nickel and cobalt. read more04-Oct-2021 - BHP Group (BHP.AX) will supply nickel sulphate from Western Australia to Toyota and Panasonic's joint venture. read moreFORD (F.N)22-July-2022 - Ioneer Ltd signs binding offtake agreement with Ford to supply lithium from Rhyolite Ridge in Nevada. read more22-Sept-2021 - Ford partners with startup Redwood Materials to form a "closed loop" or circular supply chain for electric vehicle batteries, from raw materials to recycling.

☆ Ford, GM upgrade their heavy-duty pickup profit machines
▼ + stars: | 2022-09-28 | by ( Joseph White | ) www.reuters.com time to read: +3 min

Ford said the Super Duty franchise generates "more revenue than many Fortune 500 companies, including Southwest Airlines, Marriott International or Nordstrom." Heavy-duty pickups such as the Super Duty and Silverado HD do dirty work in oil fields and on construction sites. Ford on Tuesday unveiled the latest generation of the Super Duty at Churchill Downs racetrack in Louisville, Kentucky, not far from the factory where most Super Duty trucks are built. read moreOne day ahead of Ford's Super Duty reveal, Chevrolet outlined a list of improvements to its Silverado HD heavy pickup line, which trails the Super Duty in sales. Chevrolet said it will now offer only a 10-speed Allison transmission on its heavy duty Silverado trucks.

☆ Qualcomm CFO Focuses on Investing in Budding Automotive Business
▼ + stars: | 2022-09-27 | by ( Mark Maurer | Qualcomm Cfo Akash Palkhiwala | ) www.wsj.com time to read: +6 min

The company estimated $1.3 billion in auto revenue for the fiscal year ended Sunday, up 33% from the prior year. Ninety percent of Qualcomm’s auto-related revenue forecast through 2026 is based on existing design wins from across the business line, Mr. Palkhiwala said. “It’s a business that’s important to us,” Mr. Palkhiwala said about the auto-chips division. Like Qualcomm, chip companies such as Intel Corp. and Nvidia Corp. are wading deeper into the auto market. Nvidia reported $566 million in revenue for its auto business in the year ended in January, up 5.6% from the prior-year period.

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