Results of Stellantis’ 2023 Annual General Meeting
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U.S. Supreme Court declines bid by GM to take up dismissed case against Fiat Chrysler
April 17, 2023 2:24 PM EDTThe U.S. Supreme Court on Monday declined to take up a dismissed racketeering case General Motors (NYSE: GM) brought against Fiat Chrysler Automobiles, now known as Stellantis (NYSE: STLA). The denial was included in a daily order list from the court on Monday.
The justices turned away an appeal by General Motors of a lower court's dismissal of its lawsuit that accused Fiat Chrysler of bribing employee union officials in a bid to undermine GM and pressure... More
U.S. treasury announces VW, BMW, Nissan, Rivian and others lose access to tax credits
April 17, 2023 1:52 PM EDTThe U.S. treasury announced Monday that automakers Volkswagen, BMW, Nissan, Rivian (NASDAQ: RIVN), Hyundai and Volvos electric vehicles will lose access to a $7,500 tax credit under the new rules for battery sourcing.
The Treasury also said the new requirements, which go into effective on Tuesday will cut credits for the Tesla Inc (NASDAQ: TSLA) Model 3 Standard Range Rear Wheel Drive by half to $3,750 but that other Tesla models will retain... More
Panasonic considers building EV battery plant in Oklahoma
April 17, 2023 1:27 PM EDTTesla (NASDAQ: TSLA) battery supplier, Panasonic said on Sunday that the Japanese company is considering building a battery plant in Oklahoma, its third in the United States.
Panasonic has entered into an agreement with the State of Oklahoma that defines the eligibility... More
Volkswagen to partner with Vale, Ford (F) and Huayou to build EV battery ecosystem in Indonesia
April 17, 2023 8:20 AM EDTIndonesian investment minister Bahlil Lahadalia announced Sunday that Volkswagen will build an electric vehicle (EV) battery ecosystem in Indonesia and will partner with miner Vale, Ford and China's battery minerals producer Zhejiang Huayou Cobalt.
Minister Lahadalia said on Sunday that Volkswagen, Europe's biggest automaker, will work with Vale, Ford, Huayou, French... More
Nissan seeks tech growth independent of Renault
April 14, 2023 12:04 PM EDTAn exclusive story by Reuters on Friday reports, citing seven people with knowledge of the matter, that Nissan is developing growth plans in areas such as software and electric vehicles (EVs) independent of Renault SA as the automakers work to finalize terms of the limited alliance.
According to the report, Nissan is seeking a partner outside the auto industry to develop software that connects vehicles to cloud-based services, two people involved in discussions said, without elaborating on candidates. That would address a relative weakness for Nissan as it tries to make cars "smarter and more connected", one of... More
Stellantis (STLA) considers expanding Peugeot e-208 production in Spain despite pressure from France
April 13, 2023 2:34 PM EDTBloomberg reports Thursday, citing people familiar with the situation, that automaker Stellantis (NASDAQ: STLA) is leaning toward expanding production of its Peugeot e-208 electric vehicle in Spain despite pressure from the French government to add output in France.
Finance Minister Bruno Le Maire would like Stellantis to build the compact model locally in France and has been... More
Brazilian Government offer fresh perks for a BYD plant as Ford talks stall
April 13, 2023 1:41 PM EDTIn February, the Brazilian government opened negotiations with electric automaker BYD in the hopes of reopening a factory that belonged to Ford (NYSE: F) in Camacari. Ford ended activities at the Camacari industrial complex in January 2021 following 20 years of operations.
However, as talks have stalled, a story from Reuters, citing unnamed sources, reports Thursday that... More
