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Stellantis (STLA) buys 33.3% of Symbio, joins Forvia and Michelin as equal shareholder

Stellantis (NYSE: STLA) confirmed Friday the 33.3% purchase of zero-emission hydrogen mobility company, Symbio. The automaker joins Forvia and Michelin as equal shareholders in the company.

The announcement marks a significant milestone in advancing the decarbonization of the mobility industry, showcasing Symbio's exceptional technological prowess in... More

Western OEMs look to cut costs in fight against Chinese EV 'invasion'

French car maker, Renault announced Thursday that the company was aiming to cut its EV production costs by 40%, as growing fears of an "invasion" of cheap Chinese electric cars threaten western automakers.

CFO, Thierry Pieton, expressed that the most effective strategy against price competition is to reduce the company's own development and manufacturing expenses.

Although the goal to decrease costs by 40% is aimed for 2027 and beyond, CEO Luca de Meo stated that the group anticipates considerably lower production costs starting from the latter half of this... More

Tesla (TSLA) margins hurt the EV maker says Stellantis (STLA) CEO: 'They are entering my world, the world of tight pricing'

Stellantis (NYSE: STLA) CEO, Carlos Tavares spoke during the automakers 2Q earnings call, saying the profitability of rival automaker, Tesla (NASDAQ: TSLA) is declining as the EV giant enters the world of manufacturing and competition.

"They are entering my world, the world of tight pricing, cost competitiveness,... More

Major automakers unite to form new EV charging company in the US

A group of major automakers, including General Motors (NYSE: GM), Stellantis (NYSE: STLA), Hyundai and its Kia affiliate, Honda (NYSE: HMC), BMW and Mercedes Benz, announced Wednesday that they are forming a new company to provide electric vehicle charging in the United States.

The new charging company... More

FTC finalizing antitrust lawsuit that could break up parts of Amazon (AMZN) - Politico

According to Politico on Wednesday, the Federal Trade Commission (FTC) is in the process of completing its much-anticipated antitrust lawsuit against Amazon (NASDAQ: AMZN), which could potentially lead to the break up of parts of the company.

Citing four sources familiar with the situation, the publication said the... More