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

Stellantis (STLA) and LG Energy recruit launch team for Ontario battery factory

July 31, 2023 2:38 PM EDT

Stellantis (NYSE: STLA) and LG Energy Solutions have begun the recruitment process to build a core team of production engineers and technicians, forming a launch team for the automaker's battery factory in Ontario.

Operating under the joint venture name NextStar Energy, they are actively hiring 130 new employees. Out of these, the first 30 positions will be dedicated to... More

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

July 27, 2023 2:31 PM EDT

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'

July 26, 2023 1:20 PM EDT

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

July 26, 2023 11:30 AM EDT

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

Automakers Plan Thousands Of EV Chargers In $1B US Push - WSJ

July 26, 2023 9:59 AM EDT

Automakers Plan Thousands Of EV Chargers In $1B US Push - WSJ

... More

Seven Car Companies Jointly Investing in EV Charging Stations, Sources Say - WSJ

July 26, 2023 9:58 AM EDT

Seven Car Companies Jointly Investing in EV Charging Stations, Sources Say - WSJ

Automaker Investments into Charging JV Total at Least $1 Billion, Sources Say - WSJ... More

Stellantis shares move higher after carmaker posts record sales

July 26, 2023 8:03 AM EDT

Investing.com -- Milan-listed shares in Stellantis NV (BIT: STLAM) rose on Wednesday after the U.S.-European carmaking giant posted record first-half sales thanks in part to strong demand for its electric vehicles.

The maker of popular car models like Jeep and Alfa Romeo reported net... More

Alphabet, Coca-Cola, AT&T rise premarket; Microsoft, Snap fall

July 26, 2023 7:45 AM EDT

Investing.com -- U.S. futures edged lower Wednesday, with investors digesting a deluge of corporate earnings ahead of the eagerly-awaited Federal Reserve policy meeting.

Here are some of the biggest premarket U.S. stock movers today:

Alphabet (NASDAQ: GOOGL) stock rose 6.2% after the... More

Stellantis (STLA) H1 Adjusted Operating Margin 14.4% vs 12.2% Estimate - Bloomberg

July 26, 2023 5:09 AM EDT

Stellantis (STLA) H1 Adjusted Operating Margin 14.4% vs 12.2% Estimate - Bloomberg

... More

Stellantis tops forecasts, looks to cost cuts to keep margins strong

July 26, 2023 2:08 AM EDT

By Giulio Piovaccari and Gilles Guillaume

MILAN (Reuters) -Revenue and operating profit grew at Stellantis in the first half to beat estimates, with CEO Carlos Tavares saying the automaker would have to accelerate cost cutting to keep profitability strong in a more challenging pricing environment.

The world's third largest automaker by sales said on Wednesday its January-June adjusted earnings before interest and tax (EBIT) rose 11% to 14.1 billion euros ($15.6 billion), topping the 12.1 billion expected by analysts in a Reuters poll.

New CFO Natalie Knight, who took the job this month, said... More