Stellantis (STLA) signs offtake agreement, invests in Alliance Nickel

U.S. might delay decision to add EVs to biofuel credit program

May 1, 2023 1:15 PM EDT

According to a Reuters report Monday, citing unnamed sources, that the United States Government could delay a decision on giving eRIN tradable credits to EVs under a renewable fuel program over concerns about expected legal challenges.

Last year, the U.S. Environmental Protection Agency (EPA) proposed to significantly expand the current Renewable Fuel Standard (RFS) to include the so-called eRIN proposal which would allow automakers to generate eRINs tradable credits based on the EVs they sell by establishing contracts with parties that produce electricity from biogas.

The plan would have... More

Daimler joint venture to build $650M nationwide charging network for electric trucks

April 28, 2023 2:30 PM EDT

Mercedes-Benz owned Daimler Truck on Friday introduced Greenlane, the name of its joint venture with NextEra Energy and BlackRock Alternatives.

The more than $650 million joint venture was formed to design, develop, install and operate a U.S. nationwide, high-performance zero-emission public charging and hydrogen fueling network for medium- and heavy-duty battery-electric and hydrogen fuel cell vehicles.

They also unveiled renderings of the site layout as a major milestone in the development of the... More

Texas house approves $200 annual fee on EVs, bill heads to Gov. Abbott’s desk

April 28, 2023 1:27 PM EDT

A Texas bill requiring electric vehicle drivers to pay an additional annual $200 fee passed the state House of Representatives Thursday with a unanimous vote of 145-0. SB 505 will now head to Gov. Greg Abbotts desk where it is expected to be signed.

Republican state Sen. Robert Nichols, who sponsored the legislation, said an additional electric vehicle fee is necessary because EV drivers don't pay gas taxes when they fuel their vehicles.

"As... More

Stellantis (STLA) Signs Offtake Agreement and Invests in Alliance Nickel

April 28, 2023 4:14 AM EDT

Stellantis Signs Offtake Agreement and Invests in Alliance Nickel for Battery Grade Nickel and Cobalt Sulphate

Binding offtake agreement of battery-grade nickel and cobalt sulphate from the NiWest project in Western AustraliaOfftake agreement for approximately 40% of forecast annual production for an initial term of five yearsStellantis purchases 9.2 million (AUD 15 million) in new equity in Alliance Nickel,... More

Stellantis (STLA) offering voluntary buyouts to 33,500 U.S. employees

April 26, 2023 1:53 PM EDT

Stellantis (NYSE: STLA) announced Wednesday that the Chrysler parent company is offering voluntary exit packages to 33,500 U.S. employees as it looks to streamline operations.

The automaker did not say how many total jobs it is looking to eliminate. However, the offer covers 31,000 U.S. hourly workers and about 2,500 salaried workers. The company is also... More

Stellantis (STLA) to Offer Buyouts to Certain White-Collared Employees - WSJ

April 26, 2023 11:17 AM EDT

Stellantis (NYSE: STLA) to Offer Buyouts to Certain White-Collared Employees Company Memo Says -- WSJ

Stellantis to Also Offer Buyouts To Some Factory Workers, Internal Memo SaysBuyout Offers to Target Salaried Workers with 15 Years of Experience or More... More

Stellantis (STLA) to cut 3,500 U.S. jobs

April 26, 2023 8:31 AM EDT

According to a United Auto Workers union letter made public Tuesday, Chrysler and Dodge parent company Stellantis (NYSE: STLA) wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages.

According to the letter, The automaker is looking to reduce its... More