UAW Says 5,000 GM (GM) Workers In Texas Are Joining Strike - Bloomberg
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Morgan Stanley expects similar deals from OEMs as Stellantis (STLA) forms JV with Leapmotor
October 26, 2023 12:17 PM EDTStellantis (NYSE: STLA) confirmed Wednesday night that the Chrysler-parent will invest EUR 1.5B to acquire approximately 20% of Chinese automaker, Leapmotor.
The purchase also sets the stage for a planned joint venture between the two entities called, Leapmotor International, a 51/49 Stellantis-led JV that has exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China.
Morgan... More
Ford (F) reaches tentative deal with UAW to end strike after 6 weeks
October 26, 2023 9:12 AM EDTFollowing almost 6 weeks of strikes, Detroits Ford Motors (NYSE: F) and the United Auto Workers union announced late on Wednesday that the two have come to a tentative agreement on the terms of a new labor contract.
While the final details of the agreement are still being prepared, analysts at Barclays remain Neutral on the automaker as they believe the headline terms are likely already priced into the stock.
The UAW also announced... More
Stellantis (STLA) closing in on deal to acquire 20% of China's Leapmotor
October 25, 2023 11:49 AM EDTStellantis (NYSE: STLA) confirmed Wednesday that the automaker was studying closer ties with Chinese carmakers following a Bloomberg report that said the company was nearing a deal to acquire a roughly 20% stake in Chinese electric vehicle company, Zhejiang Leapmotor.
Leapmotor and Stellantis are in talks about establishing a... More
General Motors (GM) California DMV puts the brakes on GM's Cruise driverless cars over safety risk
October 25, 2023 11:12 AM EDTCalifornia issued an order to General Motors' (NYSE: GM) Cruise division Tuesday, demanding the removal of its autonomous vehicles from state roads.
The state referred to the vehicles as a potential threat to public safety and accused the company of misrepresenting information about the technology's safety.
The Department of Motor Vehicles (DMV) in California declared the suspension of Cruise's permit for autonomous vehicle deployment and driverless testing, effectively halting the company's testing of the vehicles without safety... More
GM and Honda (HMC) cancel plans to co-develop affordable EVs
October 25, 2023 8:08 AM EDTHonda Motor (NYSE: HMC) and General Motors (NYSE: GM) announced Wednesday the cancellation of their collaborative efforts to produce budget-friendly electric vehicles (EVs), as confirmed by the Japanese company. This development comes a year after their initial agreement to join forces in an attempt to surpass Tesla (NASDAQ: TSLA) in... More
