Stellantis (STLA) AEG report shows a union strike could cost the U.S. auto industry $5.5B

Stellantis (STLA) enters dealership electrification agreement with AGI

August 23, 2023 3:07 PM EDT

Acknowledging the extensive national requirements involved in the design, implementation, and upkeep of EV charging networks at over 2,600 sites, Stellantis (NYSE: STLA) revealed on Wednesday their decision to appoint AGI as a turnkey infrastructure solutions provider. This partnership aims to support their dealers in their push towards electrification, encompassing all the necessary elements to establish electric vehicle supply equipment (EVSE) for charging purposes.

The... More

General Motors (GM) to halt production in Fort Wayne due to supply shortage

August 23, 2023 2:14 PM EDT

Officials from General Motors (NYSE: GM) revealed their decision to shut down the Fort Wayne Assembly Plant next week as the automaker grapples with supply issues.

GM spokesperson Jeffrey Benzing confirmed the pause will take place the week of August 28 due to a temporary part shortage.

The Fort Wayne plant is no... More

Ford (F) workers in Louisville vote 'yes' to authorize strike

August 23, 2023 1:41 PM EDT

Ford (NYSE: F) United Auto Workers (UAW) Local 862 union, led by veteran labor leader Todd Dunn in Louisville Kentucky, voted overwhelmingly this week to grant union leaders the right to call a strike if contracts expire before a new deal is in place.

Dunn, who is in his 13th year... More

Stellantis (STLA) considers Chinese EV partnership with Leapmotor

August 23, 2023 9:41 AM EDT

According to a report from Bloomberg News on Wednesday, Stellantis (NYSE: STLA), the parent company of Dodge, Fiat and several global brands is actively considering potential collaboration opportunities with Zhejiang Leapmotor, a Chinese electric vehicle (EV) manufacturer.

A strategic move is aimed at growing Stellantis' footprint in the Chinese automotive market.

Sources familiar with the matter have indicated that Stellantis is... More

Texas EV owners prepare as additional fees kick in Sep. 1st

August 22, 2023 2:30 PM EDT

Texas electric vehicle owners are preparing for a rule change after state lawmakers approved a $200 annual fee added to their EVs registration charges.

Earlier this year, Texas lawmakers gave the green light to a fee that applies to all electric cars and trucks in the state. This fee, including a $400 charge for first-time registration, aims to fix what legislators pointed out as an... More

Stellantis (STLA) threatened to move RAM 1500 production to Mexico, union leader says

August 21, 2023 2:36 PM EDT

United Auto Workers (UAW) union Vice President, Rich Boyer revealed Sunday that Dodge-Chrysler parent Stellantis (NYSE: STLA) threatened to relocate production of their Ram 1500 pickup trucks from its location in metro Detroit to a facility in Mexico.

The threat comes as contract negotiations for thousands of autoworkers have reached a near boiling point. The UAW will hold a vote this week to award... More

California DMV probes GM's Cruise robotaxi following crash

August 21, 2023 11:20 AM EDT

The California Department of Motor Vehicles (DMV) announced Friday that the state auto regulator has opened an investigation into recent concerning incidents surrounding General Motors (NYSE: GM) Cruise autonomous vehicle unit. The DMV has also asked that GM remove half of their robotaxis from service while the investigation is under way.

The statement from the California DMV follows an incident involving a Cruise robotaxi and an emergency vehicle in San Francisco late on Thursday, the latest accident involving the self-driving cars.

"The DMV reserves the right,... More

NHTSA probes 2022 Ford (F) Mach-E recall as problems persist

August 21, 2023 10:19 AM EDT

The National Highway Traffic Safety Administration (NHTSA) revealed Monday that the safety regulator has opened an investigation into whether a 2022 Ford (NYSE: F) recall of 49,000 Ford Mustang Mach-E electric vehicles properly addressed safety concerns, and if the recall should be expanded.

Ford initiated a recall in June 2022 due to a potential issue with high voltage battery main contactors. These contactors have the potential to overheat as a result of DC fast-charging and repetitive wide-open pedal events. This overheating could lead to an abrupt loss of power for propulsion,... More

US auto safety agency probes 2022 Ford Mach-E EV recall

August 21, 2023 8:03 AM EDT

By David Shepardson

(Reuters) -U.S. auto safety regulators said on Monday that they are investigating whether Ford Motor's 2022 recall of nearly 49,000 Ford Mustang Mach-E electric vehicles adequately addressed concerns and whether it should be expanded to more vehicles.

Ford issued the June 2022 recall because high voltage battery main contactors may overheat from DC fast-charging and repeated wide-open pedal events, which could result in an immediate loss of propulsion power, increasing the risk of a crash.

... More

VinFast slumps for third straight day after eye-popping market debut

August 18, 2023 11:22 AM EDT

Investing.com -- VinFast Auto (NASDAQ: VFS) shares tumbled for a third straight session in early U.S. trading on Friday, representing another step down from an eye-popping surge in the Vietnamese electric vehicle maker's stock after its debut on the Nasdaq on Tuesday.

By 10:41 ET (14:41 GMT), shares in VinFast had fallen by 22.15% to $15.57.

At one point this week, VinFast had... More

Stellantis (STLA) call put ratio 1 call to 13.4 puts with focus on December 14 puts

August 17, 2023 2:05 PM EDT

Stellantis (NYSE: STLA) 30-day option implied volatility is at 32; compared to its 52-week range of 23 to 423 into their current union contracts end on September 14. Call put ratio 1 call to 13.4 puts with focus on December 14 puts.

... More

Ford Motor (F) option IV steady on more calls than puts amid union contract headlines

August 17, 2023 2:03 PM EDT

Ford Motor (NYSE: F) 30-day option implied volatility is at 34; compared to its 52-week range of 27 to 588 into their current union contracts end on September 14. Call put ratio 2.3 calls to 1 put.

... More

Ford (F) and partners to build $887M battery facility in Quebec

August 17, 2023 1:44 PM EDT

Ford (NYSE: F), alongside a consortium of South Korean companies, announced Thursday that the group would build a C$1.2 billion ($887 million) facility capable of producing electric vehicle battery materials in Becancour, Quebec.

According to Canada's industry ministry, the small 15,000 person town of Becancour on... More

General Motors (GM) option implied volatility flat

August 17, 2023 1:29 PM EDT

General Motors (NYSE: GM) 30-day option implied volatility is at 34; compared to its 52-week range of 27 to 60 into their current union contracts end on September 14.

... More

UAW leader says Detroit Three automakers 'still not serious' in contract talks

August 17, 2023 1:08 PM EDT

By Joseph White

DETROIT (Reuters) -United Auto Workers President Shawn Fain told Reuters the Detroit Three automakers are "still not serious" in their responses so far to the union's economic proposals, and said Sept. 14 is a firm deadline for all three companies to conclude new contracts.

"Things have been moving slow," Fain said in an interview. He did not rule out strikes at General Motors, Ford and Stellantis North America if the deadline is missed.

"Everyone's deadline is the same," Fain said. "It's imperative all three companies come to the table."

Fain has outlined an... More

Ford, partners pick Canada for $900 million battery materials plant

August 17, 2023 10:32 AM EDT

By Steve Scherer

OTTAWA (Reuters) -A consortium of Ford Motor Co and South Korean companies on Thursday said they would build a C$1.2 billion ($887 million)plant to produce electric vehicle (EVs) battery materials in Becancour, Quebec, a town seeking to become an EV-supply-chain hub, Canada's industry ministry said.

The consortium includes South Korean partners EcoProBM and SK On Co Ltd, according a statement from the ministry. The factory will eventually produce 45,000 tonnes of cathode active materials (CAM) per year for Ford EVs.

Ford in a separate statement described the materials as high-quality Nickel Cobalt Manganese (NCM) for... More

Stellantis (STLA) invests in direct lithium extraction project

August 17, 2023 9:08 AM EDT

Stellantis (NYSE: STLA) said Thursday that the carmaker will be investing more than $100 million in California-based direct lithium extraction (DLE) company, Controlled Thermal Resources.

Different DLE technologies come with their own unique approaches, but all share the common goal of extracting lithium from saline brine deposits through mechanical filtration. This innovative process eliminates the necessity for open pit... More

Cisco Systems and Ball rise premarket; CVS, Wolfspeed and Tapestry lower

August 17, 2023 8:59 AM EDT

Investing.com -- U.S. futures traded higher Thursday, rebounding after two consecutive days of losses amid more earnings from the retail sector and weekly jobless claims data.

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

Walmart (NYSE: WMT) stock fluctuated after raising its full-year forecast as... More

Stellantis (STLA) Invests $100M in CTR

August 17, 2023 6:03 AM EDT

Stellantis Invests in CTR to Strengthen Low Emissions U.S. Lithium Production

Stellantis invests over $100 million to advance the development of geothermal lithium project in California and encourage decarbonization of battery electric vehicle supply chainsNew agreement includes a supply increase from the initial plan of 25,000 metric tons to up to 65,000 metric tons per year of battery-grade lithium hydroxide... More