Strikes disrupt production at Stellantis (STLA) plant in southern Italy
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Gov. Abbott signs annual EV tax bill into law
May 16, 2023 2:44 PM EDTTexas Governor, Greg Abbot signed Senate Bill 505 into law over the weekend, requiring electric vehicle owners to pay $400 to register a new electric vehicle, on top of other fees. Renewing registration will cost $200.
The purpose of the fee is to guarantee that owners of electric vehicles contribute their fair portion towards highway expenses, typically funded by a 20 cent-per-gallon gas tax paid by owners of gasoline-powered and hybrid vehicles.
The bill passed a vote in the... More
Canada increases subsidy support for Stellantis (STLA) battery plant in effort to resolve construction stalemate
May 16, 2023 1:22 PM EDTCanadas Industry Minister, Francois-Philippe Champagne announced Tuesday that the country has increased its planned support to carmaker Stellantis (NASDAQ: STLA) in an effort to end a stalemate between the two entities and continue construction on a battery plant in Windsor, Ontario.
The automaker halted construction Monday due to a disagreement with the federal government regarding subsidies.
To break the "stalemate," it is important that Ontario "pay its fair share," Champagne told reporters at a news... More
Stellantis (STLA) agrees to acquire 33.3% of Symbio
May 16, 2023 10:15 AM EDTAutomaker, Stellantis (NASDAQ: STLA) on Tuesday, made an announcement regarding its partnership with Faurecia and Michelin. They have signed a binding agreement wherein Stellantis will acquire a 33.3% stake in Symbio, a prominent company specializing in zero-emission hydrogen mobility. Faurecia and Michelin will continue to be shareholders, each holding a 33.3% stake in Symbio.
This announcement marks a notable milestone in the efforts to decarbonize the mobility industry and showcases Symbio's exceptional expertise in hydrogen fuel cell advancements. With Stellantis coming on board as a shareholder, Symbio's growth will receive a substantial boost, both... More
Stellantis (STLA) halts plant construction in Windsor over subsidy disagreement
May 15, 2023 2:42 PM EDTStellantis (NYSE: STLA), on Monday, made an announcement stating that it has halted the construction of its electric vehicle battery manufacturing facility in Windsor, Canada. According to a company spokesperson, this decision was made due to a disagreement with the federal government regarding subsidies.
"Effective immediately, all construction related to the battery module production on the Windsor site has stopped," the spokesperson said.
The move follows an agreement between... More
Stellantis (STLA) to recall over 90,000 vehicles due to fire risk
May 10, 2023 2:23 PM EDTAmerican automotive company, Stellantis (NYSE: STLA) has announced a recall of over 90,000 plug-in hybrid electric vehicles to dealerships. The recall is due to an increased risk of fire.
The Federal Motor Transport Authority (KBA) has warned that the recall concerns around 32,000... More
