Stellantis (STLA) to recall over 90,000 vehicles due to fire risk
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Strikes disrupt production at Stellantis (STLA) plant in southern Italy
May 12, 2023 2:41 PM EDTStellantis (NYSE: STLA), the parent company of Dodge, Chrysler, Alfa Romeo and others, has experienced a slow in production at its plant in southern Italy the past few days due to strikes by employees protesting over working conditions, the FIOM union said on Friday.
The automaker assembles the recently launched Alfa Romeo Tonale SUV, production of which is ramping up, and the Fiat Panda small car at the... More
U.S. EV shares slump following news of Lucid (LCID) and Fisker (FSR) poor 1Q results and production cuts
May 9, 2023 1:44 PM EDTU.S. electric automakers saw a decline in share prices Tuesday morning following cuts to production forecasts by Lucid Group Inc (NASDAQ: LCID) and Fisker Inc (NYSE: FSR), with Lucid sliding 9% in early trading.
Fisker shares were last down 5.3% after the company reported quarterly results. The company reported 1Q EPS of ($0.38), $0.08 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $198 thousand versus the consensus estimate of $6.33 million. The EV maker also announced... More
Barclays predicts April back step as EV penetration reaches 14% in March report card
May 9, 2023 8:11 AM EDTBarclays released a March EV report card as EV penetration reached 14%, up m/m and y/y, but still below elevated 4Q22. Analyst Dan Levy believes April is poised to be a slight step back in uptake, in-line with typical 1st month-of-quarter patterns. Tesla (NASDAQ: TSLA), however, had an impressive March share, benefiting from price cuts and an increased focus on low cost EVs exported from China.
China once again had the highest EV penetration rate among the major global regions (30% in March), yet was flat m/m.... More
