Stellantis and Galloo to Form Joint Venture for End-of-Life Vehicle Recycling

Volvo launches EX30 electric SUV

Swedish luxury automaker, Volvo launched their new fully-electric EX30 SUV on Wednesday with two battery options and a starting price of around 36,000 euros ($38,500). The EX30 is Volvos smallest SUV to date and follows the unveiling of the larger electric EX90 in November.

"It's a small SUV doing Volvo things," CEO Jim Rowan said during the car's launch event in Milan,... More

Stellantis (STLA) launches second round of share buybacks

Stellantis (NYSE: STLA) announced Wednesday the start of their second round of share buybacks. The buyback program was announced on February 22, 2023, covering up to 1.5 billion (total purchase price excluding ancillary costs) to be executed in the open market with the intent to cancel the... More

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'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

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