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☆ EXCLUSIVE Automakers to double spending on EVs, batteries to $1.2 trillion by 2030
  + stars: | 2022-10-21 | by ( Paul Lienert | ) www.reuters.com   time to read: +4 min
Register now for FREE unlimited access to Reuters.com RegisterAutomakers 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. Leading the charge is Tesla (TSLA.O), where Chief Executive Elon Musk has outlined an audacious plan to build 20 million EVs in 2030, requiring an estimated 3 terawatt-hours of batteries. 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.
☆ Italian unions to start wage talks next week with Stellantis, Ferrari
  + stars: | 2022-10-20 | by ( Giulio Piovaccari | ) www.reuters.com   time to read: +2 min
MILAN, Oct 20 (Reuters) - Italy's unions will meet representatives of companies including carmakers Stellantis (STLA.MI) and Ferrari (RACE.MI) on Oct. 26 to start talks over wage increases, a senior official from the UILM union said on Thursday. On Wednesday FIM-CISL, UILM, Fismic, UGLM and AQCF unions said their delegates had approved a proposal presented last week by their leaders for new four-year contracts for most workers in Italy at Stellantis, Ferrari, Iveco (IVG.MI) and CNH Industrial (CNHI.MI). The proposal includes a request for a wage increase of 8.4% for next year to counter rising inflation. Register now for FREE unlimited access to Reuters.com RegisterThe meeting will be held next Wednesday morning in the northern city of Turin where Stellantis, Iveco and CNH Industrial have their Italian headquarters. Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari Editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.
☆ Italy's Brembo sets up venture capital arm to invest in tech startups
  + stars: | 2022-10-19 | by ( ) www.reuters.com   time to read: +1 min
MILAN, Oct 19 (Reuters) - Premium brakes maker Brembo (BRBI.MI) said on Wednesday it had set up an internal venture capital unit, called Brembo Ventures, to accelerate the development of technologic solutions to be applied to the automotive industry. A spokesman for the group said Brembo Ventures was a unit and not set up as a proper venture capital fund with an initial financial endowment. Register now for FREE unlimited access to Reuters.com RegisterBrembo Ventures will invest in startups globally, focusing on artificial intelligence, big data, sensors, mechatronics, energy efficiency and sustainability, it said in a statement. "With Brembo Ventures, we are even more structured to seize the market opportunities that can contribute to our goal of redefining future of braking systems and mobility," Brembo's Chief Business Development Officer Roberto Grazioli said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari; editing by Agnieszka FlakOur Standards: The Thomson Reuters Trust Principles.
☆ Automakers need more time to meet U.S. minerals requirements for EVs -execs
  + stars: | 2022-10-19 | by ( Ben Klayman | ) www.reuters.com   time to read: +5 min
"We believe it's unfair," he added, pointing out that none of the South Korean automaker's EVs qualify for the credit. Munoz said U.S. legislators should offer companies investing in the United States some type of waiver or a longer transition period. Automakers are trying to figure out how their vehicles will meet the new law's requirements to qualify for EV tax credits. Details of the act are still being ironed out and the U.S. Treasury is currently taking comments on how to implement the rules around the EV tax credits. "We're pretty well positioned," he said at the Reuters conference, citing the Detroit automaker's four U.S. battery plants the company has announced and its raw materials supply deals.
☆ Italy unions to pursue 8.4% wage claim at Stellantis and Ferrari
  + stars: | 2022-10-19 | by ( ) www.reuters.com   time to read: +2 min
Stellantis logo is seen on the company's headquarters in Poissy near Paris, France, February 20, 2022. REUTERS/Gonzalo FuentesMILAN, Oct 19 (Reuters) - Italian union delegates on Wednesday approved a proposal presented by their leaders to seek a wage rise of 8.4% for next year at Stellantis, Ferrari, Iveco and CNH Industrial, setting the scene for formal talks with the industrial groups. Consumer prices rose 8.9% year on year in Italy in September and workers are seeking higher wages in response. Leftist union FIOM is not part of these talks and has presented its own separate requests. Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari; editing by Agnieszka Flak and Keith WeirOur Standards: The Thomson Reuters Trust Principles.
☆ REUTERS EVENTS-Stellantis eyeing two more N. American battery plants by 2030
  + stars: | 2022-10-18 | by ( ) www.reuters.com   time to read: +2 min
DETROIT, Oct 18 (Reuters) - Stellantis (STLA.MI) will need four electric-vehicle battery plants in North America by 2030, the company's North American chief operating officer said on Tuesday. The automaker has already announced two joint-venture battery plants - one in Indiana and the other in Canada - and will need two more plants in the United States, Canada or Mexico, Mark Stewart said at a Reuters Events auto conference in Detroit. We will need four plants by 2030." Register now for FREE unlimited access to Reuters.com RegisterThe Indiana plant is a joint venture with South Korea's Samsung SDI (006400.KS), while the Canada plant will be built with South Korea's LG Energy Solution (373220.KS). Asked whether Stellantis was open to the workers at the joint-venture battery plants being represented by the United Auto workers union, Stewart said it was up to the workers but the company was open to the idea.
☆ Stellantis expects semiconductor supply to be fixed by end of 2023
  + stars: | 2022-10-18 | by ( ) www.reuters.com   time to read: 1 min
PARIS, Oct 18 (Reuters) - Carmaker Stellantis (STLA.MI) expects the shortage in the supplies of semiconductor chips to be fixed by the end of 2023 and inflation to be under control in one or two years, Chief Executive Carlos Tavares said on Tuesday. "By the end of 2023, semiconductor supply will be fixed," Tavares said at the Paris Car Show. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sudip Kar-Gupta Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
☆ As carmakers unveil new EVs, France ups subsidies for poorer buyers
  + stars: | 2022-10-17 | by ( Gilles Guillaume | ) www.reuters.com   time to read: +3 min
PARIS, Oct 17 (Reuters) - Renault (RENA.PA) and Stellantis (STLA.MI) unveiled new French-made electric vehicles (EVs) at the Paris Motor Show on Monday, as President Emmanuel Macron announced bigger subsidies for poorer families to buy EVs and pushed for more local production. Register now for FREE unlimited access to Reuters.com RegisterMost EVs are currently more expensive than fossil-fuel equivalents and are unaffordable for many. "We have an industrial strategy in place for people to buy more and more French (cars)," Macron told Les Echos. The electric versions of Stellantis' Peugeot 308 sedan and larger Peugeot 408 unveiled on Monday will be assembled in Mulhouse in eastern France. The Renault 4 will join the new electric Kangoo, produced in Maubeuge, and new Mégane manufactured in Douai, also in northern France.
☆ As Renault unveils new EV, France hikes subsidies for poorer buyers
  + stars: | 2022-10-17 | by ( Gilles Guillaume | ) www.reuters.com   time to read: +3 min
A woman holds a cable to charge up a Renault Kangoo ZE electric utility vehicle at a Renault automobile dealership in Cagnes-Sur-Mer, France, October 22, 2020. REUTERS/Eric Gaillard/File PhotoPARIS, Oct 17 (Reuters) - Renault (RENA.PA) unveiled its new French-made electric Renault 4 at the Paris Motor Show on Monday, as President Emmanuel Macron announced bigger subsidies for poorer families to buy electric vehicles (EV) and pushed for more local production. He added a "social leasing" scheme helping low-income families access an EV for 100 euros per month would start in early 2024. "We have an industrial strategy in place for people to buy more and more French (cars)," Macron told Les Echos. Asked about boosting subsidies for European-made EVs, as the United States has done with its recently-passed Inflation Reduction Act, Macron told Les Echoes he had favoured this approach for years.
☆ EVs, hybrids to make up 40% of Renault brand 2022 Europe sales -exec
  + stars: | 2022-10-17 | by ( Gilles Guillaume | ) www.reuters.com   time to read: +2 min
A woman holds a cable to charge up a Renault Kangoo ZE electric utility vehicle at a Renault automobile dealership in Cagnes-Sur-Mer, France, October 22, 2020. REUTERS/Eric Gaillard/File PhotoPARIS, Oct 17 (Reuters) - Fully electric and hybrid vehicles in 2022 have almost doubled as a percentage of the Renault (RENA.PA) brand's European sales over the last two years, an executive said ahead of the Paris Motor Show. In 2021, electrified models accounted for around a quarter of the Renault brand's European sales and around a third in the first half of 2022. It will unveil them at the Paris Motor Show. This year's Paris Motor Show is the first since 2018, when it attracted more than a million visitors.
☆ German car industry baulks at supplier demands over energy hikes
  + stars: | 2022-10-14 | by ( Victoria Waldersee | ) www.reuters.com   time to read: +6 min
More and more suppliers are calling on the industry to renegotiate contracts to include energy clauses so they can cover the cost of rising bills. "We're asking for help with raw material costs, for clauses incorporating inflation - but the red line is energy costs. 'NO GOOD OPTIONS'While contracts in the automotive supply chain in Germany often include clauses that adapt prices according to the cost of raw materials, energy clauses are much less common. They can be problematic because they are complicated to calculate and require suppliers to share details on their margins, the production process and their energy contracts. "At a car manufacturer it's a lot of effort," he said, adding that his company only had energy clauses with a few important suppliers.
☆ Siemens signs deal to supply equipment for gigafactories JV
  + stars: | 2022-10-13 | by ( ) www.reuters.com   time to read: +2 min
Gigafactories is a generic term referring to facilities that produce batteries for electric vehicles on a large scale. Under the deal, Siemens will become ACC's preferred supplier for automation, digitalisation and electrification technology. Terms of the partnership, which is part of the Siemens Xcelerator open digital platform launched earlier this year, have not been revealed. "ACC uses virtually the entire spectrum of Xcelerator - from factory construction to production automation to building services," Siemens managing board member Cedrik Neike told Reuters. Siemens on Thursday also announced a deal with electric vehicle company Volta Trucks to deliver electric charging infrastructure for truck customers, to help the transition to electrified vehicles.
☆ Stellantis opens software hub in India to support digital strategy
  + stars: | 2022-10-12 | by ( ) www.reuters.com   time to read: +2 min
MILAN, Oct 12 (Reuters) - Carmaker Stellantis (STLA.MI) said on Wednesday it had inaugurated a new software hub in Bengaluru, India, its second innovation centre in the country, focusing on cockpit and driver assistance technologies. Stellantis aims to generate 20 billion euros ($19.4 billion) in additional annual revenues by 2030 from its software-driven strategy. It will house laboratories including a next-generation acoustic one, developing specific audio signatures as well as premium audio experiences for Stellantis vehicle owners. read moreStellantis, the world's fourth largest carmaker, is present in the Indian market with its Jeep and Citroen brands. ($1 = 1.0305 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
☆ China's BYD wins five-star European safety rating for electric SUV
  + stars: | 2022-10-12 | by ( Nick Carey | ) www.reuters.com   time to read: +2 min
LONDON, Oct 12 (Reuters) - BYD (002594.SZ) on Wednesday received a coveted five-star Euro NCAP safety rating for its electric ATTO 3 crossover SUV, the latest Chinese carmaker to receive top marks as it seeks to gain a foothold in Europe's competitive car market. Last month Chinee rival Great Wall Motor (601633.SS) received five-star ratings for its WEY brand Coffee 01 hybrid SUV and its ORA brand Funky Cat electric sedan. Just this week BYD launched the ATTO 3 in India, which sells in China as the Yuan Plus. Last week, German car rental company Sixt (SIXG.DE) said it has committed to buying around 100,000 electric vehicles from China's BYD in the coming years. Among the other cars receiving a five-star rating on Wednesday was Mercedes-Benz's (MBGn.DE) EQE electric sedan.
☆ Stellantis set to boost recycled material content in vehicles
  + stars: | 2022-10-11 | by ( ) www.reuters.com   time to read: +1 min
MILAN, Oct 11 (Reuters) - Stellantis (STLA.MI) will seek to upgrade its mid-term target for the minimum percentage of recycled material in its vehicles from 35%, the carmaker's Senior Vice President Global Circular Economy Alison Jones said on Tuesday. In its business plan Stellantis has set a goal to boost revenues of its recycling business ten-fold to over 2 billion euros ($1.94 billion) by 2030. "We talk about having a minimum target of 35% of recycled materials in our vehicles, it will vary by vehicles," Jones said. "Of course we'll look to increase that, because we want to make sure we take more material and put it back in our vehicles going forward," she added without specifying what she would increase the percentage to. ($1 = 1.0310 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari; editing by Barbara LewisOur 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.
☆ Auto giant Stellantis looks to Australian materials, including nickel, for its EVs
  + stars: | 2022-10-11 | by ( Anmar Frangoul | ) www.cnbc.com   time to read: +2 min
In this article STLA Follow your favorite stocks CREATE FREE ACCOUNTThis image, from July 2021, shows a Citroen e-C4 electric vehicle on display at a showroom in Paris, France. Benjamin Girette | Bloomberg | Getty ImagesStellantis is turning to Australia as it looks to procure the materials needed for its electric vehicle strategy in the years ahead. "Securing the raw material sources and battery supply will strengthen Stellantis' value chain for electric vehicle battery production," Maxime Picat, chief purchasing and supply chain officer at Stellantis, said. Stellantis' electric vehicle plans put it in competition with firms such as Elon Musk's Tesla as well as companies like Volkswagen , Ford and GM . According to the International Energy Agency, electric vehicle sales are on course to hit an all-time high this year.
☆ 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.
☆ Stellantis, GME Resources seal nickel and cobalt deal for battery production
  + stars: | 2022-10-10 | by ( ) www.reuters.com   time to read: +2 min
PARIS, Oct 10 (Reuters) - Carmaker Stellantis (STLA.MI) has signed a non-binding preliminary agreement with GME Resources (GME.AX) to secure supplies of nickel and cobalt sulphate for electric vehicle (EV) batteries, the two companies said on Monday. read moreEarlier this year the Franco-Italian group signed a lithium supply agreement with developer Vulcan Energy Resources (VUL.AX) and said it would invest 50 million euros ($48.6 million)to buy an 8% stake in it. read moreRegister now for FREE unlimited access to Reuters.com RegisterStellantis and the GME mining company said in a statement on Monday that the memorandum "represents the first step toward a potential long-term partnership,". The supply will come from a nickel and cobalt advanced mining project in Western Australia called "NiWest", which GME is currently developing, with a planned production of around 90,000 tonnes per year of battery-grade nickel and cobalt sulphate. Stellantis Chief Purchasing and Supply Chain Officer Maxime Picat said that securing the raw material sources and battery supply would strengthen the group's value chain for EV production and support its decarbonisation target.
☆ Italy unions seek Stellantis, Ferrari wage rise of over 8% for 2023
  + stars: | 2022-10-10 | by ( Giulio Piovaccari Rodolfo Fabbri | Giulio Piovaccari | Rodolfo Fabbri | ) www.reuters.com   time to read: +3 min
The logo of Ferrari is seen in the headquarters as CEO Benedetto Vigna unveils the company's new long term strategy, in Maranello, Italy, June 15, 2022. They cover almost 70,000 workers in Italy, two thirds of them at the former Fiat-Chrysler, which last year merged with France's PSA to create Stellantis, whose brands also include Peugeot and Jeep. Spokespeople for Stellantis and Iveco said they would not make any comment until unions have filed a formal request, in coming days or weeks. The Agnelli family's holding company Exor (EXOR.AS) is a major shareholder in carmakers Stellantis and Ferrari, truckmaker Iveco and agricultural and construction machine maker CNH Industrial. This is separate from a national contract for workers in other parts of the metal and mechanical sector.
☆ Stocks making the biggest moves in the premarket: Ford, General Motors, Rivian and more
  + stars: | 2022-10-10 | by ( Peter Schacknow | ) www.cnbc.com   time to read: +2 min
Take a look at some of the biggest movers in the premarket:Ford (F), General Motors (GM) – UBS downgraded both automakers, cutting Ford to "sell" from "neutral" and downgrading GM to "neutral" from "buy." Ford slid 3.6% in the premarket while GM fell 3.5%. Rivian (RIVN) – Rivian shares tumbled 9% in the premarket after it recalled nearly all its vehicles to fix potential steering issues. Kraft Heinz (KHC) – Kraft Heinz rose 2% in premarket action after Goldman Sachs upgraded the food maker's stock to "buy" from "neutral." Merck (MRK) – Merck rose 2.7% in the premarket after Guggenheim upgraded the stock to "buy" from "neutral."
☆ Renault, Nissan messy breakup is least-bad option
  + stars: | 2022-10-10 | by ( Neil Unmack | ) www.reuters.com   time to read: +4 min
Another headache is the alliance’s lopsided governance, which sees Renault hold a 43% stake in Nissan but the Japanese group prohibited by French law from exercising voting rights associated with its 15% stake in Renault. That will need Nissan’s backing, and the Japanese group might also invest in the electric division. The quid pro quo may be for Renault to give up some of its 43% share in Nissan. That implies the current value of just over 9 billion euros assigns little worth to the Nissan stake. Nissan is pressing Renault to cut its 43% stake in the Japanese group to as little as 15%, Reuters reported on Oct. 8.
☆ Citroën invents cardboard car for resourceless world
  + stars: | 2022-09-29 | by ( Gilles Guillaume | ) www.reuters.com   time to read: +3 min
That's what Citroën has done with a new concept car designed in anticipation of a resourceless world, using cardboard instead of steel for those parts. This and a vertical windscreen designed to reduce the amount of glass needed and save weight make the electric Citroën "Oli" concept car look like a futuristic SUV. "It's more than just a concept car like you're used to seeing," Citroën director of future products Anne Laliron told Reuters. Designers at Dacia, the low-cost brand of Renault (RENA.PA), have also tried their hand at this exercise, coming up with the "Manifesto" concept car. Work on the concept car began in 2019 and has arrived in an era beset by raw material shortages caused by the coronavirus pandemic and the war in Ukraine.
☆ Stellantis and Uber join forces on electric vehicles market in France
  + stars: | 2022-09-27 | by ( ) www.reuters.com   time to read: +1 min
The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, February 23, 2022. REUTERS/Gonzalo FuentesPARIS, Sept 27 (Reuters) - Carmaker Stellantis (STLA.MI) and Uber (UBER.N) announced a partnership along with the company Free2Move to focus on the French electric vehicles market. The companies said in a joint presentation on Tuesday that Free2Move would help Uber in Uber's plans to convert 50% of its fleet of vehicles in France over to electric models. The production and sale of more electric and hybrid vehicles is also a key part of the plans set out in March by Stellantis Chief Executive Carlos Tavares to double Stellantis' overall revenues to 300 billion euros ($288.8 billion) a year by 2030. ($1 = 1.0390 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Gilles Guillaume; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.
☆ Auto suppliers feel the green squeeze as carmakers get clean
  + stars: | 2022-09-26 | by ( Nick Carey Victoria Waldersee Giulio Piovaccari | Nick Carey | Victoria Waldersee | ) www.reuters.com   time to read: +7 min
Gareth Kaminski-Cook, CEO of Autins, which makes noise-reducing and thermal insulation for carmakers, gives a tour of the auto supplier's factory in Tamworth, Britain, May 3, 2022. Many auto suppliers, already squeezed by rampant inflation and energy prices, say they have little choice but to shoulder the extra costs of making their components sustainable to meet carmakers' environmental targets. "We're going to see a real big shakeout the next five, 10 years in the auto supply chain." The company, which is worth about $39 billion, launched its own sustainability drive in 2020 and is working on recyclable products with carmakers including Volkswagen, Volvo and BMW. Guell says carmakers only want to work with suppliers who use green energy, leaving him in a tight spot.
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