Stellantis (STLA) and General Motors (GM) hit with $363M in penalties for fuel economy violations

Stellantis (STLA) and LG consider Ottawa's enriched subsidy offer as factory construction remains halted

Stellantis (NYSE: STLA) and LG Energy Solution are reviewing an enhanced subsidy deal from Ottawa designed to save an electric vehicle battery factory worth 2,500 Canadian jobs. Construction on the $3.7 billion factory was halted on May 15th when the companies alleged the federal government wasnt holding up its end of a deal.

Stellantis and LGES are in receipt of a written offer that is currently under financial and legal review, Stellantis Canada communications head LouAnn Gosselin told reporters.

Canadian Prime Minister,... More

EPA to scrap proposed EV volumes from biofuel blending rule

Reuters reports today, citing three unnamed sources familiar with the matter that the Biden administration is planning to discard a proposal to include the electric vehicle industry into the U.S. biofuel blending program. Additionally, the administration intends to retract tradable credits worth potentially billions of dollars that were associated with this initiative.

It was first reported in early May that the Environmental Protection Agency (EPA) was considering delaying the EV program over concerns the plan could trigger lawsuits. The... More

Ford (F) names Whirlpool's (WHR) Liz Door as new supply chain chief

Ford Motor (NYSE: F) on Tuesday announced the appointment of Liz Door from Whirlpool Corp (NYSE: WHR) as its new chief supply chain officer, effective June 12. This decision comes as Ford anticipates a challenging 2023 due to chip shortages, supply... More

Global EV penetration reaches 14% in April with promising uptick in May

Barclays April report card shows that global electric vehicle penetration reached 14% in April, slightly outpacing last years EV penetration of 13%; however, it fell short of the heightened levels observed in the fourth quarter of 2022. Shifting focus to May, the industry is demonstrating promising signs of a substantial m/m increase in EV penetration, indicating a positive trajectory.

Additionally, while Tesla's (NASDAQ: TSLA) market share remains stable, the actual strength might not be as robust as the price reductions would have you expect. Lastly, the US electric vehicle market continues to make... More

Ford's (F) deal with Tesla (TSLA) charges up industry and sparks standardization talks

The recent move by Ford Motor Co (NYSE: F) to grant its customers access to Tesla's (NASDAQ: TSLA) electric-vehicle charging network has caused significant waves in the industry. This decision has sparked discussions about the need for a standardized charging infrastructure across the United States and has also cast uncertainty on the future of struggling charging startups.

The deal, announced last month, outlined plans to provide drivers of Ford vehicles in North America with access to over 12,000 Tesla Superchargers, starting in 2024. Under the deal, Ford will... More

GM to invest $1B to retool plants for gas-powered heavy-duty trucks

General Motors (NYSE: GM) announced Monday its intention to invest more than $1 billion in the retooling of two mid-Michigan plants. This strategic move aims to equip the facilities for the production of a new wave of gas-powered heavy-duty trucks.

GM has outlined this year a total of $1.7... More

No need for Italy to directly invest in Stellantis (STLA), says Minister Giorgetti

Italys Economy Minister, Giancarlo Giorgetti told reporters Monday that the Italian government has no need to directly invest in automaker Stellantis (NYSE: STLA), mirroring a statement made last week by the companys chairman John Elkann.

When reporters asked whether Rome... More

Stellantis (STLA) and Galloo look to form joint venture for ELV recycling

Multinational automaker Stellantis (NYSE: STLA), alongside leading metals recycler Galloo revealed Monday, that the two companies have signed a Memorandum of Understanding to enter into exclusive negotiations to form a joint venture with a focus on End-of-Life Vehicle (ELV) recycling as part of the automakers continued commitment to build its circular economy activities.

The collaboration will work with selected Authorized Treatment Facilities to collect the... More

General Motors (GM) and POSCO expand Ultium CAM joint venture in North America with $1B investment

American automaker General Motors (NYSE: GM) made an announcement Friday in collaboration with POSCO Future M regarding the next phase of their Ultium CAM joint venture. This strategic partnership entails a substantial investment of over $1 billion to expand the production capacity at their chemical battery materials facility in Canada, taking their estimated total investment in the plant to over $1 billion.

The companies had invested about $327 million in the plant last year, according to media reports.

The latest investment from GM and POSCO comes days after Canada's federal government and the Quebec province... More

GM’s Mary Barra pushes back against autonomous vehicles doubters

General Motors (NYSE: GM) CEO Mary Barra spoke at a Sanford Bernstein conference Friday where she doubled down on her confidence that the company will experience significant growth opportunities in the autonomous vehicle industry over the next decade.

Barra restated her prediction that Cruise could generate $50 billion a year in annual revenue by... More

Tesla’s (TSLA) price cuts drive online traffic spike

Citi has recently revised their "mindshare" tracker for electric vehicles (EVs), which keeps tabs on web traffic related to EVs. This tracker evaluates the level of engagement on websites associated with the overall EV market, as well as specific brands or companies, with the latter serving as a possible predictor of future EV market share and brand... More

GM (GM) and POSCO Future M to Expand EV Battery Supply Chain in North America with New Integrated CAM and Precursor Processing Complex

General Motors Co. (NYSE: GM) and POSCO Future M announced today the second phase of their Ultium CAM joint venture, an investment projected to exceed $1 billion (U.S.) to increase production capacity of CAM in North America and integrate precursor materials production. pCAM is a specifically engineered combination of processed raw materials necessary to produce CAM, a key battery material representing about 40% of the cost of a battery... More

Stellantis (STLA) does not need Italy as a shareholder, says Chairman Elkann

On 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

Chrysler, 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) Announces Design Leadership Changes

Vince Galante to head Jeep® Exterior Design Ryan Nagode to lead Interior Design Leandro Pinto to head Global User Experience

Stellantis (NYSE: STLA) today announced the following appointments within the product design office executive leadership team, effective immediately.

Vince Galante, Vice President - Jeep® Exterior Design
Vince Galante is appointed vice president of Jeep exterior design reporting to... More

General Motors (GM) to build key components for E-Cite Motors’ EV-GT

E-Cite Motors, a privately owned subsidiary of VaporBrands, revealed Wednesday that General Motors (NYSE: GM) would be responsible for producing crucial components for their upcoming electric sportscar, the EV-GT.

GM has designed and crafted several important components for the EV-GT, including specific suspension... More

Stellantis (STLA) partners with Vulcan Energy for geothermal projects in France

On 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

Stifel Reiterates Buy Rating on Stellantis NV (STLA:IM) (STLA)

Stifel analyst Pierre-Yves Quemener reiterated a Buy rating and EUR27.00 price target on Stellantis NV (STLA:IM) (NYSE: STLA).