Stellantis Announces Launch of Third Tranche of its Share Buyback Program
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China EVs sink as EU launches probe into subsidies
September 13, 2023 9:34 AM EDTShares of Chinese electric vehicle manufacturers Nio (NYSE: NIO), Li Auto (NASDAQ: LI), and XPeng (NYSE: XPEV) experienced a decline in early trading Wednesday morning following a Bloomberg report that the European Union has initiated an inquiry into Chinese electric vehicle subsidies.
The European Commission president said that Brussels will launch an anti-subsidy... More
U.S. committee recommends royalties on mining minerals for EVs
September 12, 2023 3:25 PM EDTA federal committee, Tuesday, put forth a suggestion to introduce royalties on U.S. hardrock mining with an aim to boost domestic mining production by generating additional funds for the agencies responsible for granting new mining permits.
This proposal is just one element of a comprehensive set of recommendations designed to enhance the supply of essential materials like lithium, cobalt, and nickel. Materials crucial for supporting the growth of a domestic electric vehicle (EV) industry, which plays a... More
UAW talks 'moving very slow'; high likelihood of a strike says analyst
September 12, 2023 9:07 AM EDTThe Detroit 3 and UAW remain significantly apart in their contract negotiations as the September 14th deadline quickly approaches. However, there is a noticeable willingness from the UAW to make concessions on crucial terms, especially considering that their initial request, which they self-described as "audacious," appeared to be unattainable.
Recent proposals are asking for a mid-30% raise, rather than the... More
Stellantis (STLA) to present new offer as UAW contract nears end
September 11, 2023 11:46 AM EDTDetroit automaker and Chrysler-parent, Stellantis (NYSE: STLA) announced Monday their plans to present a new counteroffer to the United Auto Workers (UAW) after the Union submitted their own revised offer to the company on Sunday. The unions current contract is scheduled to expire at midnight on Thursday.
The UAW on Friday had rejected revised offers from... More
Stellantis (STLA) launched 3rd round of share buybacks
September 11, 2023 10:41 AM EDTStellantis (NYSE: STLA) announced Monday that they have teamed up with an independent investment firm to buy back some of its shares as part of the companys third round of its buyback program.
Back in February 2023, Stellantis, the parent company of... More
