Hundred Grand Hybrid: Stellantis' Windsor Assembly Plant Marks Production of 100,000th Chrysler Pacifica Plug-In Hybrid
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UBS cuts estimates on Renault and Volkswagen as Chinese competition rises
September 1, 2023 8:21 AM EDTUBS downgraded French automaker, Renault to a Sell rating (From Neutral) and cut their 12-month price target on the automotive stock to 31.00 (From 42.00) as competition from Chinese rivals intensifies.
UBS anticipates continued robust financial performance in the upcoming quarters with the potential for additional positive surprises. However, it is noteworthy that most indicators have ceased to show improvement. An analysis by UBS, including the examination of the BYD teardown Q-Series, leads analyst David Lesne to believe that legacy automakers... More
UAW files unfair labor practice charges against GM and Stellantis (STLA) amid contract dispute
September 1, 2023 7:34 AM EDTOn Thursday night, UAW President Shawn Fain announced that the United Auto Workers have submitted allegations of unfair labor practices to the National Labor Relations Board against General Motors (NYSE: GM) and Stellantis (NYSE: STLA). These allegations pertain to the automakers' purported lack of genuine and timely engagement in bargaining with the union.
The filings were prompted by the companies' failure to promptly address the union's requests, as explained by Fain. Notably, there was no complaint filed against Ford Motor (NYSE:... More
US will offer $12B to automakers and suppliers for the advancement of new energy vehicles
August 31, 2023 12:15 PM EDTU.S. Secretary of Energy, Jennifer Granholm held a briefing with journalists Thursday where the former governor announced the United States will be making $12 Billion in funds available through grants and loans to automakers and their suppliers for the purpose of retrofitting facilities to produce electric and other advanced vehicles.
The funding will include $10 billion from a federal loan program for clean vehicles and aims to support... More
