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

Volvo launches EX30 electric SUV

June 7, 2023 2:33 PM EDT

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

June 7, 2023 10:26 AM EDT

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

June 6, 2023 3:03 PM EDT

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

June 6, 2023 2:38 PM EDT

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

June 6, 2023 7:58 AM EDT

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

June 5, 2023 11:58 AM EDT

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 to Form JV for End-of-Life Vehicle Recycling

June 5, 2023 8:08 AM EDT

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

Joint venture will provide recycling services to manage End-of-Life Vehicles for Stellantis and other automakersService expected to launch in late 2023, with an initial focus on France, Belgium and Luxembourg, then expanding across EuropeRecycling is a key activity inside the circular economy business model outlined in the Stellantis Dare... More

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

June 2, 2023 11:44 AM EDT

An 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 EDT

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

June 1, 2023 11:19 AM EDT

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

June 1, 2023 11:01 AM EDT

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