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Stellantis (STLA) and General Motors (GM) hit with $363M in penalties for fuel economy violations
June 2, 2023 11:44 AM EDTAn exclusive story by Reuters on Friday revealed that Stellantis (NYSE: STLA) and General Motors (NYSE: GM) have paid a combined sum of $363 million in civil penalties. These penalties were imposed due to their failure to meet the fuel economy standards set by the United States for previous model years.
According to the National Highway Traffic Safety Administration (NHTSA), which administers the Corporate Average Fuel Economy (CAFE) program, the record-setting penalties include... More
Stellantis (STLA) does not need Italy as a shareholder, says Chairman Elkann
June 1, 2023 1:31 PM EDTOn Thursday, John Elkann, the Chairman of Stellantis (NYSE: STLA), responded to business lobbyists' calls for Italy to invest directly in the company. Elkann made it clear that Stellantis is doing well and doesn't need the Italian government to become a shareholder.
"I... More
Stellantis (STLA) will invest $176M in Rennes Plant for electric SUV launch
June 1, 2023 11:19 AM EDTChrysler, Dodge parent company, Stellantis (NYSE: STLA) revealed on Thursday that the Franco-Italian-American car manufacturer will invest 160 million euros ($176.13 million) at its Rennes plant to launch a 100% electric compact Sports Utility Vehicle (SUV) in 2025.
The automaker said in a... More
Stellantis (STLA) partners with Vulcan Energy for geothermal projects in France
May 31, 2023 8:20 AM EDTOn Wednesday, Stellantis (NYSE: STLAM) and Vulcan Energy Resources, a lithium supplier listed in Australia, announced a new partnership with the objective to help the decarbonization of Stellantis' operations in Europe.
In a joint statement, the two companies announced that the binding agreement covers the first phase of a project to develop new geothermal sources contributing to the energy... More
