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☆ Credit Agricole is weighing foray into German car-sharing: media report
▼ + stars: | 2022-11-27 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Nov 27 (Reuters) - French bank Credit Agricole (CAGR.PA) is weighing plans to offer car-sharing financial services in Germany because the growing market offers opportunities to challenge incumbent players, an executive told trade publication Automobilwoche. "We are testing car-sharing in smaller towns in France with a population of up to 30,000. The German membership-based car-sharing market is undergoing a transformation as Volkswagen (VOWG_p.DE) is selling its all-electric car-sharing unit WeShare to Berlin-based Miles Mobility. Germany's Mercedes-Benz (MBGn.DE) and BMW (BMWG.DE) sold their car-sharing venture Share Now to Stellantis (STLA.MI). Car rental firm Sixt has branched out into car-sharing.

☆ Stellantis to reorganise European dealer network from July 2023
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

MILAN, Nov 24 (Reuters) - Franco-Italian carmaker Stellantis (STLA.MI) said on Thursday it would reorganise its European dealers' network in July next year, starting from Austria, Belgium, Luxembourg and the Netherlands. As part of its efforts to cut costs and support investment for electrification, Stellantis last year said it would end all current sales and services contracts with European dealers for all of its 14 brands, from June 2023. Uwe Hochgeschurtz, Stellantis' chief operating officer for the 'Enlarged Europe' area, said the group aimed to promote a "sustainable" distribution model and all stakeholders would benefit. Stellantis said it ran a comparative economic simulation showing that, under the new planned distribution model, dealers would enjoy "at least equivalent profitability" and reduced exposure to risks. A spokesman for the company said Stellantis' light commercial vehicle brands would enter the new distribution structure from Jan. 1, 2024.

☆ Stellantis looks to India for affordable EVs for Europe
▼ + stars: | 2022-11-24 | by ( Aditi Shah | ) www.reuters.com time to read: +3 min

NEW DELHI, Nov 24 (Reuters) - Fiat parent Stellantis (STLA.MI) has concluded it can't currently make affordable electric vehicles (EVs) in Europe and is looking at lower-cost manufacturing in markets such as India, its chief executive told reporters. "So far, Europe is unable to make affordable EVs. Stellantis is investing heavily in EVs and plans to produce dozens in the coming decade, but Tavares warned last month that affordable battery EVs were between five and six years away. The power that is best placed to leverage this opportunity is obviously India," Tavares said. The carmaker plans to launch its first EV in India - an electric model of its Citroen C3 compact car - early next year.

☆ Stellantis looks to India for affordable EVs for Europe amid competition from China
▼ + stars: | 2022-11-24 | by ( Aditi Shah | ) www.reuters.com time to read: +3 min

NEW DELHI, Nov 24 (Reuters) - Fiat parent Stellantis (STLA.MI) has concluded it can't currently make affordable electric vehicles in Europe and is looking at lower-cost manufacturing in markets such as India, its chief executive told reporters. "So far, Europe is unable to make affordable EVs. The power that is best placed to leverage this opportunity is obviously India," Tavares said. Stellantis already makes its own electric motors and battery packs, and also has plans to make battery cells. In India, too, Tavares wants to locally procure EV components, including batteries so it can be competitive on cost and price.

☆ Stellantis to buy software developer aiMotive in autonomous driving push
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

MILAN, Nov 17 (Reuters) - Carmaker Stellantis (STLA.MI) said on Thursday it had agreed to buy aiMotive, a Hungary-based developer of advanced artificial intelligence and autonomous driving software, to advance its technology development efforts. No financial details of the transaction were disclosed. The acquisition enhances Stellantis' artificial intelligence and autonomous driving core technology, expands its global talent pool, and boosts the mid-term development of its all-new STLA AutoDrive platform, the company added in a statement. The deal also supports Stellantis' ambition to generate around 20 billion euros ($20.75 billion) in additional annual revenues by 2030 from software-enabled product offerings and subscriptions. ($1 = 0.9640 euros)Reporting by Agnieszka Flak, editing Federico MaccioniOur Standards: The Thomson Reuters Trust Principles.

☆ Stellantis strikes deal with Infineon to secure silicon carbide chips
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 14 (Reuters) - Global carmaker Stellantis (STLA.MI) has signed a non-binding memorandum of understanding (MoU) with German chipmaker Infineon (IFXGn.DE) for a multi-year supply of silicon carbide semiconductors, Infineon said in a statement on Monday. According to the agreement, Infineon will reserve production capacity and supply the power semiconductors directly to Stellantis suppliers in the second half of the 2020s. Well over 1 billion euros' ($1.03 billion) worth of chips could be involved, said Infineon, adding that the chips would be meant for electric vehicles under the Stellantis brands. Chip shortages over the past couple of years have forced global automakers to scrap production plans for millions of cars. ($1 = 0.9696 euros)Reporting by Christina Amann; Writing by Miranda Murray; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Separation anxiety over Renault's five-way split
▼ + stars: | 2022-11-10 | by ( Gilles Guillaume | ) www.reuters.com time to read: +5 min

The main plank of the strategy is the separation of its combustion engine business from its electric vehicle (EV) operation. ELECTRIC PUSHAn early mover in electric cars, Renault has fallen behind newer, more agile rivals such as Tesla (TSLA.O). By teaming up its new businesses with the best available partners, "Renault hopes to win medals in those different sports instead of remaining at an average level in all five", he said. "This contrasts with what some other automakers have said, notably Volkswagen (VOWG_p.DE), Mercedes (MBGn.DE), and Stellantis (STLA.MI), who do not believe in (electric vehicle) business separations," he said. Reporting by Gilles Guillaume Writing by Nick Carey Editing by Silvia Aloisi and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Autos giant Renault is betting the market for gasoline cars will continue to grow
▼ + stars: | 2022-11-09 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

The tie-up with Geely comes as Renault fleshes out plans to establish an EV spin-off called Ampere. According to Renault, France-based Ampere "will develop, manufacture, and sell full EV passenger cars." This was because, Pieton argued, it created "a world-leading supplier of ICE and hybrid powertrains with around 19,000 employees in the world, covering 130 countries." "Manufacturers need to be flexible in their powertrain offerings according to market needs — which differ across the world." The U.K., for example, wants to stop the sale of new diesel and gasoline cars and vans by 2030.

☆ Stellantis to halt Melfi plant operations in Italy for two days
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

MILAN, Nov 8 (Reuters) - Stellantis (STLA.MI) will halt operations at its Melfi plant in southern Italy on Wednesday and Thursday due to a shortage of a component that uses micro chips, a trade unionist said. Marco Lomio, the local head of UILM metalworkers union, said on Tuesday that the Italo-French carmaker had just informed workers' representatives. The Melfi plant, which employs more than 7,000 workers, makes the Jeep Compass and Renegade models, some of Stellantis' bestsellers in Europe. Lomio said that the plant had produced only 130,000 cars so far this year due to the global semiconductor shortage. This makes it certain that full-year output will stay below the 190,000 units produced in pandemic-hit 2020, he said.

☆ Blow for EU crackdown on tax deals as Fiat wins appeal
▼ + stars: | 2022-11-08 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

[1/2] New Fiat Panda and Fiat 500 mild-hybrid cars are seen in piazza Maggiore, in Bologna, Italy, February 4, 2020. REUTERS/Flavio Lo ScalzoLUXEMBOURG, Nov 8 (Reuters) - Fiat Chrysler on Tuesday won its fight against an EU order to pay 30 million euros ($30 million) in back taxes to Luxembourg, dealing a major setback to EU antitrust chief Margrethe Vestager's crackdown on sweetheart deals between EU countries and multinationals. In her 2015 decision, Vestager said Luxembourg had granted Fiat Chrysler, now part of Stellantis (STLA.MI), an unfair tax advantage by endorsing artificial and complex methods that artificially lowered the company's taxes. Judges faulted the EU competition watchdog for its analysis of the reference system used to determine whether Luxembourg had given a selective advantage to Fiat. Vestager's high profile cases include her record 13-billion-euro tax order for Apple (AAPL.O) and Amazon's (AMZN.O) Luxembourg deal.

DETROIT/WASHINGTON, Nov 7 (Reuters) - Stellantis (STLA.MI) said on Monday it is pausing all paid advertising posts on Twitter as it waits to see what the platform will look like under the leadership of its new owner Elon Musk. “We're pausing paid advertising posts until we have a clearer understanding of the future of the platform under its new leadership," the automaker said of Twitter in a statement to Reuters. Musk has said Twitter has suffered a "massive" revenue drop since he took over 10 days ago. Stellantis joins a number of major companies that have halted advertising on Twitter, including United Airlines (UAL.O), General Mills Inc (GIS.N) luxury automaker Audi of America and General Motors Co (GM.N). Gilead Sciences Inc (GILD.O) said earlier on Monday the company and its unit Kite were in the "process of pausing advertising" on Twitter.

☆ Bosch agrees to pay $25 mln to settle California diesel emissions probe
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Bosch company sign is seen at the Appliance and Electronics World Expo (AWE) in Shanghai, China March 23, 2021. REUTERS/Aly SongNov 7 (Reuters) - German auto supplier Bosch (BOSH.NS) has agreed pay $25 million to resolve California's probe into the company's role in the diesel emissions scandals at Volkswagen (VOWG_p.DE) and Fiat Chrysler (STLA.MI), state Attorney General Rob Bonta said on Monday. The settlement, which is subject to court approval, resolves allegations Bosch participated in misconduct by "providing hardware, software, and software programming or calibration services to Volkswagen and Fiat Chrysler when it knew or should have known that these auto manufacturers were violating environmental and consumer protection laws," Bonta said. Reporting by David Shepardson; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Chrysler-parent urges 276,000 U.S. owners to stop driving after air bag deaths
▼ + stars: | 2022-11-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 3 (Reuters) - Chrysler-parent Stellantis (STLA.MI) is 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 in the last seven months. Stellantis said replacement driver-side air bags have been available for the vehicles subject to the stop driving notice since 2015. More than 30 deaths worldwide and hundreds of injuries in various automakers' vehicles are linked to Takata air bag inflators that can explode, unleashing metal shrapnel inside cars and trucks. Stellantis said a Takata air bag was suspected in a third death. 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.

It wants 3.8 billion pounds ($4.4 billion) to build a gigafactory in northern England but its plans are hanging by a thread as it struggles to lure enough investment. French battery startup Verkor, for example, announced on Wednesday that it had raised 250 million euros ($249 million) to fund a megafactory. The European Battery Alliance (EBA) acknowledges Asian firms, and Chinese companies in particular, are likely to increase their market share in the coming years, helped by their track record and offtake agreements. "Even if we have the production in Europe, it doesn't mean we have the know-how or the control," she said. The EU has approved 6.1 billion euros since 2019 in funding by member states for battery research and innovation while Britain has a 1 billion pound fund to support investments in EV supply chains.

☆ Factbox: Advertisers react to Twitter's new ownership
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - Advertisers are grappling with Twitter's new ownership under Tesla boss Elon Musk, who once tweeted "I hate advertising". General Motors Co (GM.N)The largest U.S. automaker temporarily paused paid advertising on Twitter after Musk completed his takeover of the social media company. The Detroit automaker said it was "engaging with Twitter to understand the direction of the platform under their new ownership." The Interpublic Group of Companies Inc (IPG.N)The global advertising and marketing services firm recommended that its clients temporarily pause their advertisements on Twitter, The Wall Street Journal reported. Compiled by Alberto Chiumento, Philipp Krach and Antonis Pothitos; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Chrysler-parent air bag crash deaths prompt U.S. alert
▼ + stars: | 2022-11-03 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 3 (Reuters) - Chrysler-parent Stellantis (STLA.MI) on Thursday 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 in the last seven months. Stellantis said replacement driver-side air bags have been available for the vehicles subject to the stop driving notice since 2015. Stellantis said a Takata air bag was suspected in a recent third death also in a 2010 Charger. There have been more than 400 U.S. injuries reported tied to Takata air bags. Last year, NHTSA opened a probe into 30 million vehicles built by nearly two dozen automakers that have potentially defective Takata air bag inflators.

☆ Europe - the warning light flashing on carmakers' dashboards
▼ + stars: | 2022-11-03 | by ( Nick Carey | ) www.reuters.com time to read: +3 min

"Obviously the macro(-economic situation) in Europe is more challenging, which gives me pause, personally," Stellantis chief financial officer Richard Palmer said on a conference call with analysts. "If there was anywhere where I was more concerned, it would be Europe than anywhere else really based on the macro." They have also benefited from strong consumer demand amid low vehicle supply, allowing them to raise prices and keep them high even as the semiconductor shortage shows signs of easing. Both BMW and Stellantis said on Thursday they had vehicle order books that stretched into the second quarter of 2023. "And the ones we can build in Europe at the moment we're struggling to get to the point of sale."

☆ Stellantis Q3 sales up 29% as better chip supplies lift shipments
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Net revenue rose 29% in Q3 to 42.1 bln eurosShipments grew 13% in Q3 to 1.281 mln vehiclesBEV sales up 42% year-on-year to 68,000 unitsMILAN, Nov 3 (Reuters) - Sales at Stellantis (STLA.MI) rose 29% in the third quarter, helped by higher volumes amid better semiconductor supplies, the world's fourth-largest carmaker said in a statement on Thursday. But while the semiconductor crunch was easing, other supply chain issues were looming on Stellantis' operations, especially around logistics in Europe. The group's global sales of battery electric vehicles (BEV) rose 42% year-on-year to 68,000 units. Logistics issues caused an increase in the group's vehicle inventory stock, while overall dealer sales to final customers were down 4% in the quarter. "But the risk is that we have a very extensive supply chain and small hiccups in suppliers can create big complexities for us in terms of the completion of vehicles."

☆ U.S. automaker Ford opens $260 million campus in Mexico
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Oct 31 (Reuters) - U.S. automaker Ford Motor Co (F.N) opened its new global technology and business center on the outskirts of Mexico's capital on Monday after a $260 million investment. The new campus will host business operations, global transformation activities and the largest engineering center in Mexico, according to a video shared by the company's Twitter account. loadingThe campus, located in the municipality of Naucalpan, is set to host 9,000 employees working in a hybrid manner, splitting time between home and the campus, Ford Motor said in a statement. Several foreign auto companies have expanded operations and announced new investments in Mexico this year. Reporting by Carolina Pulice and Valentine Hilaire; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Stellantis Jeep joint venture in China to file for bankruptcy
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +4 min

GAC (601238.SS), which approved the bankruptcy filing, said the joint venture had liabilities of almost 111% of its assets of 7.3 billion yuan ($1.00 billion). In the following days, GAC criticised Stellantis and said it was "deeply shocked" by comments from the European carmaker about the end of their joint venture in China. He said then he did not see a major long-term impact from the company's decision to break the joint venture. The former AMC invested in a Beijing Jeep joint venture in 1984, the first such deal for vehicle production in China by an American brand. Tesla (TSLA.O) is the only global automaker that was granted a waiver to produce cars in China without a joint venture.

☆ Stellantis' Jeep joint venture partner in China to file for bankruptcy
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +1 min

Oct 31 (Reuters) - Stellantis (STLA.MI) said that shareholders of its loss-making joint venture producing Jeep vehicles in China have approved it to file for bankruptcy. Stellantis had terminated the joint venture with Guangzhou Automobile Group Co (GAC) (601238.SS) in July, only months after it said it would raise its stake in the business to 75% from 50%. read moreIn the following days, GAC hit out at Stellantis, saying that it was "deeply shocked" by critical comments from Stellantis about the end of their joint venture in China. He also added that he did not see a major long-term impact from the company's decision to break the joint venture with GAC. Reporting by Juby Babu in Bengaluru; Editing by Kim Coghill and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ One factory worker takes on Mexico's powerful unions
▼ + stars: | 2022-10-27 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +9 min

CTM representatives say their unions defend worker rights, offer perks such as scholarships and sports programs and abide by Mexico's new labor rules. Along with La Liga, other new unions have also won victories over powerful rivals in the past year at GM, Japan's Panasonic (6752.T) and French glassmaker Saint-Gobain (SGOB.PA), pledging better pay. Even among the new crop, La Liga stands out for its broader vision: targeting companies no matter the sector, no matter the location. Leaving her three kids at home, she is traveling factory to factory seeking support. What's more, to drum up support, La Liga must fight a deeply embedded culture of fear and apathy around speaking out.

☆ Italian auto groups view 8.4% pay hike request as too high, union says
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

MILAN, Oct 26 (Reuters) - Four auto groups believe pay increase requests proposed by Italian unions, including a 8.4% annual rise for next year, is too high, the UILM union said on Wednesday as talks got underway. The FIM-CISL, UILM, Fismic, UGLM and AQCF unions also requested wage increases of 4.5% for 2024 and 2.5% for 2025 to help workers recover purchasing power lost due to a Europe-wide spike in consumer price inflation. He added Stellantis considered the new contract it is discussing with unions a "valuable tool" to achieve its competitiveness ambitions in Italy. Unions and the companies have scheduled seven more meetings to be held between mid-November and mid-December. Reporting by Giulio Piovaccari Editing by Cristina Carlevaro, Mark Potter and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Automakers to double spending on EVs, batteries to $1.2 trillion by 2030
▼ + stars: | 2022-10-25 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

To put the figure in context, Alphabet (GOOGL.O), the parent company of Google and Waymo, has a market cap of $1.3 trillion. Automakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production, according to the analysis. To support that unprecedented level of EVs, carmakers and their battery partners are planning to install 5.8 terawatt-hours of battery production capacity by 2030, according to data from Benchmark Mineral Intelligence and the manufacturers. Japan's Toyota Motor Corp (7203.T) is investing $70 billion to electrify vehicles and produce more batteries, and expects to sell at least 3.5 million battery electric models (BEVs) in 2030. It plans at least 30 different BEVs and expects to transition the entire Lexus range to battery electric over that span.

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