Stellantis (STLA) closing in on deal to acquire 20% of China's Leapmotor

Morgan Stanley expects similar deals from OEMs as Stellantis (STLA) forms JV with Leapmotor

October 26, 2023 12:17 PM EDT

Stellantis (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

Stellantis nears deal to buy stake in Chinese EV maker Leapmotor -source

October 25, 2023 8:42 AM EDT

By Gilles Guillaume and Giulio Piovaccari

(Reuters) -Stellantis NV is nearing a deal to acquire a stake in electric vehicle company Zhejiang Leapmotor , a source close to the matter said on Wednesday, and the car maker said it would give an important update on Thursday.

Earlier on Wednesday, Bloomberg reported that Stellantis was close to agreeing the purchase of a stake of roughly 20% in Leapmotor.

Stellantis and Leapmotor are also discussing setting up a joint venture as part of the transaction, the Bloomberg report said, adding that a partnership could allow... More

Stellantis (STLA) Is Said To Near Deal To Buy 20% Stake In Leapmotor - Bloomberg

October 25, 2023 8:01 AM EDT

(Updated - October 25, 2023 8:04 AM EDT)

Stellantis (STLA) Is Said To Near Deal To Buy 20% Stake In Leapmotor - Bloomberg

Stellantis Is Said To Near Deal To Buy 20% Stake In Leapmotor.

Said To Announce Deal As Soon As Coming Days.

... More

Stellantis, GM furlough another 664 workers in Michigan due to UAW strike

October 24, 2023 2:21 PM EDT

(Reuters) -Chrysler-parent Stellantis said on Tuesday it was temporarily laying off another 525 workers in Michigan and General Motors is furloughing 139 workers in Ohio due to the United Auto Workers strike.

The affected Stellantis workers are at two stamping plants that provide parts for its Sterling Heights, Michigan, assembly... More

UAW Says 5,000 GM (GM) Workers In Texas Are Joining Strike - Bloomberg

October 24, 2023 10:15 AM EDT

UAW Says 5,000 GM (GM) Workers In Texas Are Joining Strike - Bloomberg

... More

Stellantis (STLA) to form JV with Orano to recycle EV batteries

October 24, 2023 10:13 AM EDT

Stellantis (NYSE: STLA) announced Tuesday the automakers plans to join with French nuclear fuels firm Orano to recycle used electric vehicle batteries and scrap from factories.

The two companies announced, in a joint statement, the signing of a memorandum of understanding, paving the way for the... More

Morgan Stanley remains Overweight on Stellantis (STLA) as UAW strikes continue to escalate

October 24, 2023 9:39 AM EDT

Morgan Stanley reiterated their overweight rating on Stellantis (NYSE: STLA) with a 12-month price target of EUR20.00 amidst escalating UAW strikes that have persisted for over 5 weeks.

The union further escalated strikes on Monday, calling for an additional 6,800 members to strike at Stellantis' largest assembly plant, pausing production of the automaker's RAM 1500 pickup truck. One of the companys most profitable vehicles. The plant is... More

Stellantis (STLA) and Orano Enter Electric Vehicle Battery Recycling Agreement

October 24, 2023 8:08 AM EDT

Stellantis and Orano Enter Electric Vehicle Battery Recycling Agreement

Intended partnership with Orano to support Stellantis sustainable management of battery electric vehicle materials and the Dare Forward 2030 strategic plan to become a carbon net zero company by 2038Reclaimed cobalt, nickel, and lithium support Stellantis circular economy approach and will help meet the European Union (EU) 2031 battery... More

Stellantis (STLA) unveils full range of renewed electrified vans

October 23, 2023 12:31 PM EDT

Stellantis (NYSE: STLA), Monday, unveiled 12 refreshed and electrified compact, mid-size, and large commercial vans as part of the automakers Pro One strategic offensive.

The vehicles were revealed for the Citroën, FIAT Professional, Opel, Peugeot, and Vauxhall brands.

The updated commercial vehicle series introduces a 2nd generation... More

UAW expands strike against Stellantis, hitting pickup truck plant

October 23, 2023 10:32 AM EDT

By David Shepardson and Joseph White

WASHINGTON/DETROIT -The United Auto Workers (UAW) union went on strike at Chrysler-parent Stellantis's largest assembly plant on Monday, hitting the automaker's profitable RAM 1500 pickup truck production in a major expansion of the more than month-old strike.

The UAW, which is striking the three big Detroit automakers, blamed the latest walkout by 6,800 workers at the Michigan plant on Stellantis having the "worst proposal" on the table on wage increases, temporary worker pay and conversion to full time status as well as cost-of-living adjustments.

More than 40,000 union members working at Ford,... More

UAW Says 6,800 Members At Stellantis (STLA) Sterling Plant Join Strike - Bloomberg

October 23, 2023 10:18 AM EDT

UAW Says 6,800 Members At Stellantis (STLA) Sterling Plant Join Strike - Bloomberg

... More

GM, Ford slip after UAW warns of more walkouts, analysts say deal is close

October 23, 2023 10:10 AM EDT

(Reuters) - Shares of U.S. automakers Ford Motor and General Motors slipped about 1% each in morning trade on Monday after the United Auto Workers (UAW) union warned of more walkouts unless a new labor deal is reached.

UAW President Shawn Fain said on Friday that the automakers had converged on a 23% wage hike, but told members there was "more to be won".

Though Fain... More