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☆ 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.

☆ Stellantis keeps feet on ground in air taxi punt
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 5 (Reuters Breakingviews) - Pumping $150 million into a loss-making flying-car company looks like an odd use of money for a carmaker. Stellantis (STLA.MI) Chief Executive Carlos Tavares has plenty to worry about already, like a looming recession and growing competition from Chinese giants. Yet the auto group’s deal with $513 million Archer Aviation (ACHR.N) looks like a savvy bet. It also locks in secure funding at a time when public and venture capital investors are increasingly jittery. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Automakers from Sony Honda to Hyundai are introducing ways at the CES 2023 technology trade show this week to reshape the in-car entertainment experience, including offering video games during the rides. "This is a field which can be deployed very quickly," Dirk Hilgenberg, head of Volkswagen AG's (VOWG_p.DE) CARIAD software unit, told Reuters at CES. In December, Tesla issued a "holiday update" to its software to add access to 1,000 PC games through the Steam platform. Still, these are features that consumers are demanding, so VW is at CES seeking partnerships. "We will see the content ... which is provided by software enabled functionality will be a decisive factor for buying."

Ram 1500 Revolution BEV electric concept pickup truck Stellantis"This is a vision, or a glimpse, into the future of Ram Trucks," Ram CEO Mike Koval Jr. told CNBC. The electric Ram truck is expected to enter an increasingly crowded segment of electric pickups that already includes the GMC Hummer EV, Ford F-150 Lightning, Lordstown Endurance and smaller Rivian R1T. Ram 1500 Revolution BEV electric concept pickup truck StellantisKoval said Ram isn't worried about being late to the segment. Ram 1500 Revolution BEV electric concept pickup truck StellantisThe design of the concept electric Ram pickup appears to be more of a lifestyle pickup rather than a traditional work truck, but executives said the production vehicle will serve both purposes. "The TRX (a performance version of the Ram 1500) has that in spades," Gilles told CNBC.

☆ Stellantis to build U.S. firm Archer's air taxi
▼ + stars: | 2023-01-04 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

PARIS, Jan 4 (Reuters) - Car maker Stellantis (STLA.MI) will help build Archer Aviation's (ACHR.N) electric aircraft Midnight eVTOL and increase its stake in the U.S. company, the two firms said on Wednesday. Industrial firms and new startups are flocking to invest in air taxis, which can take off and land vertically to ferry travellers to airports or on short trips between cities, allowing them to beat traffic. It is designed for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. "The goal is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer," the companies said in a joint statement. Stellantis will also increase its existing stake in Archer through stock purchases in the open market.

☆ Carmakers will reverse out of public markets
▼ + stars: | 2022-12-28 | by ( Neil Unmack | ) www.reuters.com time to read: +3 min

Shares of carmakers like Stellantis (STLA.MI) and BMW (BMWG.DE) are suffering, as investors fret over a potential recession and falling car sales. It’s an opportunity for deep-pocketed funds or backers to steer them out of public markets altogether. There are risks: Carmakers are loath to borrow too much, for fear of damaging their financial services divisions. Assume a private equity buyer teamed up with the Quandt clan and acquired minority investors’ shares at a 25% premium, using debt, for 37 billion euros. If public markets dislike European carmakers, there may be a private market solution.

☆ Stellantis in talks to buy 'substantial' stake in hydrogen mobility company Symbio
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

MILAN, Dec 23 (Reuters) - Stellantis (STLA.MI) has entered exclusive talks with France's Faurecia (EPED.PA) and Michelin (MICP.PA) to buy a "substantial" stake in their Symbio joint venture, a fuel cell system maker for hydrogen mobility, the three companies said on Friday. Stellantis, the world third-largest carmaker, launched hydrogen-powered mid-size vans late last year and aims to expand its hydrogen offer to large vans in Europe in 2024 and in the U.S. in 2025, "while further exploring opportunities for heavy-duty trucks". Stellantis entry "will accelerate and globalize Symbio's growth," Faurecia's CEO Patrick Koller said. The transaction, for which no financial details were provided, is expected to be finalised in the first half on next year, the three companies said in their statement. Reporting by Giulio Piovaccari, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. Senate Finance Committee asks GM, Tesla, Toyota about Chinese supply chain
▼ + stars: | 2022-12-22 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Dec 22 (Reuters) - The U.S. Senate Finance Committee asked eight major automakers, including General Motors (GM.N), Tesla (TSLA.O), Ford Motor (F.N), and Honda Motor (7267.T), to answer questions about their Chinese supply chains, according to letters made public on Thursday. Senate Finance Committee Chair Ron Wyden wrote the chief executives of major automakers inquiring about Chinese supply chain issues, saying "it is vital that automakers scrutinize their relationships with all suppliers linked to Xinjiang." Beijing denies abuses in Xinjiang, but says it had established "vocational training centers" to curb terrorism, separatism and religious radicalism. "Between raw materials mining/processing and auto parts manufacturing, we found that practically every part of the car would require heightened scrutiny to ensure that it was free of Uyghur forced labor," the report said. GM said Thursday it actively monitors its global supply chain and "conducts extensive due diligence, particularly where we identify or are made aware of potential violations of the law, our agreements, or our policies."

☆ U.S. confirms fifth Takata air bag inflator death in 2022, urges owners to get repairs
▼ + stars: | 2022-12-19 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/2] A recalled Takata air bag inflator is seen just before being removed from a Jeep in Boulder, Colorado United States July 20, 2017. REUTERS/Rick WilkingWASHINGTON, Dec 19 (Reuters) - U.S. auto safety regulators confirmed a fifth Takata air bag inflator crash death in 2022 and reiterated urgent calls for owners to get repairs. Chrysler-parent Stellantis (STLA.MI) and the National Highway Traffic Safety Administration said they had confirmed a third Takata air bag inflator death. In November, Stellantis urged owners of 276,000 older U.S. vehicles to immediately stop driving after the crash death reports, but just 2,000 owners have gotten repairs since then. Also in November, NHTSA confirmed a new death due to a defective Takata air bag inflator in a 2006 Ford (F.N) Ranger pickup.

☆ Europe's car repairers call for competition rules rewrite
▼ + stars: | 2022-12-16 | by ( Nick Carey | ) www.reuters.com time to read: +4 min

LONDON, Dec 16 (Reuters) - Europe's car repair and spare parts industry is calling for a rewrite of EU competition rules, arguing they allow carmakers and franchise dealers to disadvantage independent operators. The European Commission has recommended extending 2010's Motor Vehicle Block Exemption Regulation (MVBER) for five years when it expires in 2023, with some supplementary guidelines. Proponents of a rewrite say automakers restrict access to vehicle data, which can make repairs more expensive, while also dictating how repairs should be undertaken and with which parts. "However, the evaluation revealed that an update was necessary to reflect the importance that access to vehicle-generated data is likely to have as a factor of competition." "If the Commission has decided not to change the rules, we assume that the complaints made by the independent aftermarket were not sufficiently substantiated," a spokeswoman said.

☆ UAW union president optimistic on quick contract with GM-LG battery venture
▼ + stars: | 2022-12-12 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 12 (Reuters) - United Auto Workers (UAW) President Ray Curry said Monday he is optimistic the union can quickly reach a contract deal with a General Motors (GM.N), LG Energy Solution (373220.KS) battery cell joint venture factory. The Detroit Three automakers all have battery plants in the works with South Korean partners and Ultium is building two other U.S. battery plants in Tennessee and Michigan. He said it would be "premature" to say how a deal with the union would affect labor costs or business structure. Ultium is building a $2.6 billion plant in Michigan, set to open in 2024. This month, Ultium said it would boost its planned investment in a $2.3 billion Tennessee plant by $275 million.

☆ Talks over new job contracts at Italian auto groups to continue in January - union
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: 1 min

MILAN, Dec 12 (Reuters) - Ongoing talks over new job contracts in Italy for Stellantis (STLA.MI), Ferrari (RACE.MI), CNH Industrial (CNHI.MI) and Iveco (IVG.MI) will be extended into January, a union representative said on Monday. Gianluca Ficco of UILM union told Reuters talks, which where initially scheduled to end this week, would "predictably" continue next month, when unions and the four companies deal with key issues, including proposed salary increases. Stellantis was not immediately available for comment. Reporting by Giulio Piovaccari, editing by Cristina CarlevaroOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. confirms another Honda death from faulty air bag
▼ + stars: | 2022-12-09 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Toru Hanai/File PhotoWASHINGTON, Dec 9 (Reuters) - A U.S. auto safety regulator on Friday said it had confirmed a new crash death from a faulty air bag in a Honda (7267.T) car, as it urged owners to get recall repairs completed. The National Highway Traffic Safety Administration (NHTSA) said it had confirmed that the February death of the driver of a 2002 Honda Accord in Bowling Green, Kentucky, was due to a faulty air bag inflator. Four Takata air bag deaths have been confirmed this year, including two Stellantis (STLA.MI) vehicles and one Ford (F.N) vehicle. Also last month, the NHTSA confirmed a new death due to a defective Takata air bag inflator in a 2006 Ford (F.N) Ranger pickup. Last year, the NHTSA opened a probe into 30 million vehicles built by nearly two dozen automakers that have potentially defective Takata air bag inflators.

WASHINGTON/DETROIT, Dec 9 (Reuters) - Chrysler parent Stellantis (STLA.MI) on Friday said it will indefinitely halt operations at an assembly plant in Illinois in February, citing the rising costs of electric vehicle production. The automaker, which employs about 1,350 workers at the Belvidere, Illinois, plant that builds the Jeep Cherokee SUV, said the action will result in indefinite layoffs and added it may not resume operations as it considers other options. Stellantis has said it will invest over 30 billion euros ($31.6 billion) through 2025 on electrifying its vehicle lineup. Stellantis spokeswoman Jodi Tinson would not comment on whether the Cherokee production would be moved to Toluca. UAW Vice President Cindy Estrada noted Stellantis imports many vehicles into the United States and said "companies like Stellantis receive billions in government incentives to transition to clean energy.

☆ BMW fined by UK watchdog over information request
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] BMW logo is seen on a vehicle at the BMW manufacturing plant in Greer, South Carolina, U.S., October 19, 2022. REUTERS/Bob Strong/File PhotoDec 8 (Reuters) - The UK's anti-trust regulator fined German luxury carmaker BMW (BMWG.DE) 30,000 pounds ($36,519) plus a further daily penalty of 15,000 pounds on Thursday over a disputed information request related to an ongoing auto industry probe. BMW said in March it would respond to regulators' information requests but the CMA said that while the company's British unit had provided information, "the wider BMW Group has failed to comply fully with the CMA's legal request, and has claimed the CMA does not have jurisdiction." BMW said in an emailed statement that the "CMA does not have the legal power to compel foreign companies to produce documents held entirely outside the UK jurisdiction". The CMA said the daily penalty will continue to accumulate until BMW provides the requested information, or the watchdog issues an infringement decision, or closes the case.

☆ CNH Industrial's CEO sees lack of growth in China's construction market
▼ + stars: | 2022-12-08 | by ( Bianca Flowers | ) www.reuters.com time to read: +2 min

Dec 8 (Reuters) - Farming and construction manufacturer CNH Industrial's (CNHI.MI) decision to permanently halt construction sales in China was due to declining market share and competition from local companies, the company's CEO said on Thursday. Mounting debt from Chinese property developers has been the catalyst for falling housing prices in the region and an overall real estate downturn that translated to a slump in construction sales for CNH Industrial and its rival Caterpillar (CAT.N). The company said on Dec. 1 it would stop selling its construction equipment in China effective Dec. 31. CNH Industrial, like other agriculture equipment makers, is expanding offerings of electric-powered tractors and precision agriculture products that the company displayed at its first technology day in Phoenix, Arizona. Agriculture sales accounted for 80% of third-quarter revenue and the machinery maker is forecasting $900 million in net sales of precision technology for fiscal year 2022.

☆ Factbox: FACTBOX European companies cut jobs as economy sputters
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Evgenia NovozheninaDec 7 (Reuters) - Decades-high inflation and the impact of war in Ukraine have forced companies across Europe into lay-offs or hiring freezes. * FINNAIR (FIA1S.HE): the Finnish airline will cut about 150 jobs, of which 90 are in its home country, as part of a plan to return to profitability. * MICHELIN (MICP.PA): the tyre maker plans to cut up to 1,600 jobs in France, fewer than the 2,300 estimated in its initial voluntary redundancy plan as it seeks to safeguard production. * HUSQVARNA (HUSQb.ST): the garden equipment and tools maker will cut 1,000 jobs, the vast majority of them related to the shift from petrol to battery-powered tools. * H&M (HMb.ST): the Swedish fashion giant, which employs roughly 155,000 people, will cut some 1,500 jobs as part of a 2 billion crown ($189.5 million) savings drive.

☆ Factbox: European companies cuts jobs as economy sputters
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +4 min

☆ 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.

☆ UAW president faces run-off election as reformers make gains
▼ + stars: | 2022-12-05 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 5 (Reuters) - United Auto Workers (UAW) President Ray Curry will face a run-off election against reform presidential candidate Shawn Fain, a court-appointed monitor said on Monday, after none of the five candidates captured a majority. The run-off election, which will also determine a vice president and regional director race, could see reformers claim a majority of seats on the 14-member UAW executive board. UAW officers previously were elected through a delegate system. For more than three decades, all UAW officers have come from an administrative slate of candidates. Curry has been president of the UAW since June 2021, and a UAW member since 1992.

☆ GM's BrightDrop signs first customer in Canada, unveils country's first large EV factory
▼ + stars: | 2022-12-05 | by ( Lisa Baertlein | ) www.reuters.com time to read: +2 min

REUTERS/Carlos OsorioDec 5 (Reuters) - The first electric delivery trucks rolled off production lines at BrightDrop's new factory in Canada on Monday, when the upstart unit of General Motors Co (GM.N) also announced DHL Express Canada (DPWGn.DE) as its first customer outside the United States. GM spent seven months and more than $2 billion transforming its 2 million-square-foot CAMI Assembly plant in Ingersoll, Ontario, into Canada's first large-scale electric vehicle (EV) factory for BrightDrop Zevo delivery trucks. It already has delivered 150 electric trucks to package carrier FedEx Corp (FDX.N). Those companies and many others have set goals to replace gas-burning delivery trucks and service vehicles with zero-emissions alternatives over time. DHL Express Canada's new relationship with BrightDrop "will help bring us closer to that target," CEO Andrew Williams said.

☆ Western firms’ Chinese red lines are not their own
▼ + stars: | 2022-12-02 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

Yet companies’ red lines on China are out of their hands. Undeterred by growing geopolitical tensions and slowing Chinese growth, several Western companies have this year intensified the rate at which they bet on the People’s Republic. If Western states decide to impose sanctions, boards would have their red lines decided for them. Western companies will keep betting on the Middle Kingdom, until their governments stop them. The report predicts China will become the largest global market for luxury goods by 2025.

☆ BYD set to be China's top-selling car brand for Nov, Tesla gains -data
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Toya Sarno Jordan/File PhotoSHANGHAI, Nov 30 (Reuters) - BYD was the top-selling car brand in China in the first four weeks of November, brokerage data showed, outperforming the Volkswagen brand in a reversal that highlights the pressure on legacy brands in the world's largest auto market. Tesla's (TSLA.O) retail sales in China also nearly doubled in November, from a year earlier, after the U.S. automaker cut prices and offered incentives on its Model 3 and Model Y, the data from China Merchants Bank International (CMBI) showed. Retail sales for BYD totaled 152,863 vehicles from Nov. 1 to Nov. 27, logging a nearly 83% increase in average daily sales compared to the same period a year earlier, according to the data. BYD's tally was higher than Volkswagen's retail sales of 143,602 retail sales and Toyota Motor Corp's (7203.T) 115,272, which were 0.3% and 0.5% lower, respectively, on the year. However, the Volkswagen AG group still outsold BYD, when the 36,847 units sold under the Audi brand are included.

☆ China decoupling takes one step forward, one back
▼ + stars: | 2022-11-29 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +7 min

It has pushed for reshoring production of electric vehicles and silicon chips, and legislated to delist Chinese companies from New York. Europe, Japan, Australia and India have implemented their own measures ranging from restrictions on Chinese investment, excluding equipment from telecoms networks, and banning consumer apps. The impact the pandemic has had on Chinese supply chains has retroactively validated the push to separate. For politicians who hope to replicate the Chinese supply chain via tax tweaks, subsidies and sanctions, it’s worth remembering China started building out the requisite logistical infrastructure in the 1980s. Non-financial outbound direct investment in the same 10-month period rose 10.3% year-on-year to 627.4 billion yuan, Shu said.

Some elements of the Jeep joint venture's failure are particular to Stellantis - and the former car groups that feature among its 14 brands. But data compiled for Reuters by consultancy LMC Automotive expose a problem shared by a number of other global carmakers: plummeting Chinese plant usage. Reuters GraphicsThe Jeep failure in China happened less than two years after Stellantis was formed by the merger of PSA and Fiat Chrysler. "Chinese companies actually have an early mover advantage because they embraced electrification faster than the foreign companies were willing to," he added. While fully-electric cars make up an average of 5% of models foreign carmakers sell in China, they account for 30% of Chinese carmakers' models, according to LMC data.

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