Friday, November 22

Tag: Passenger Cars

Stellantis, CATL in Talks for EV Battery Supply Deal With JV Potential
21Nov By adminNo Comments
World

Stellantis, CATL in Talks for EV Battery Supply Deal With JV Potential

Stellantis has signed a memorandum of understanding with CATL for the supply of electric-vehicle batteries in the European market.The Netherlands-based maker of Jeep and Dodge said Tuesday that the nonbinding agreement with the Chinese battery maker outlines a long-term agreement for the supply of lithium iron phosphate batteries. The deal could lead to a joint venture with equivalent contributions, Stellantis said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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U.S. Subsidies Fuel Boom in Global Auto Trade
19Nov By adminNo Comments
World

U.S. Subsidies Fuel Boom in Global Auto Trade

SINGAPORE—Auto exports from Europe and Asia are surging as the U.S. and other countries lavish subsidies on electric vehicles and dealers replenish inventories that even now aren’t back to prepandemic levels. The boom in autos contrasts with broader weakness in exports as the global economy slows. The trend offers a glimpse of how the West’s embrace of industrial policies aimed at stimulating domestic manufacturing and reducing the use of fossil fuels is causing wrinkles in patterns of world trade. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Cruise Suspends Employee Share Program, Citing Need to Revalue the Business
16Nov By adminNo Comments
World

Cruise Suspends Employee Share Program, Citing Need to Revalue the Business

Updated Nov. 16, 2023 1:18 pm ETGeneral Motors’ Cruise is suspending an internal program that allows employees to cash out shares in the driverless-car firm, citing the need to revalue the business after a pedestrian accident led it to halt robotaxi services last month. Cruise notified employees of the decision Thursday in an email from chief executive Kyle Vogt, which was reviewed by The Wall Street Journal. The autonomous-driving startup, majority owned by GM, told employees that the regular quarterly offer to sell shares would be canceled as it re-evaluates the program. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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UAW Workers at GM’s Largest Plant Back Labor Pact, Boosting Deal’s Chances
15Nov By adminNo Comments
World

UAW Workers at GM’s Largest Plant Back Labor Pact, Boosting Deal’s Chances

A majority of workers at General Motors’ largest U.S. factory voted in favor of a tentative contract with the United Auto Workers, bolstering the deal’s chances for approval as a tight vote enters its final hours.Workers at GM’s factory in Arlington, Texas, which makes large SUVs including the Cadillac Escalade and Chevrolet Tahoe, voted yes by more than 60%, according to Wednesday results from the local union chapter.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Warren Buffett’s Berkshire Hathaway Sheds Investments in GM, J&J and P&G
15Nov By adminNo Comments
Money

Warren Buffett’s Berkshire Hathaway Sheds Investments in GM, J&J and P&G

Warren Buffett’s Berkshire Hathaway eliminated its stake in a handful of American blue chips, including General Motors and Johnson & Johnson, while the stock market’s rally sputtered in the third quarter.The company also sold off smaller positions in Procter & Gamble, Mondelez International and United Parcel Service, while trimming its investments in Amazon.com, Chevron and HP, among others.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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New Toyota Camry to Be Sold Only as Hybrid
15Nov By adminNo Comments
World

New Toyota Camry to Be Sold Only as Hybrid

Nov. 14, 2023 10:00 pm ETToyota Motor is taking America’s bestselling sedan and making it exclusively a hybrid.When the next-generation Camry hits dealership lots in the spring, the popular midsize-car model will only be available with this technology, marking a major shift by Toyota in moving beyond the traditional gas-engine vehicle. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Chrysler-Parent Stellantis Prepares to Offer Buyouts to U.S. Salaried Workers
13Nov By adminNo Comments
World

Chrysler-Parent Stellantis Prepares to Offer Buyouts to U.S. Salaried Workers

Jeep-maker Stellantis is preparing to offer a new round of buyouts to roughly half of its U.S. white-collar employees, as the company continues to cut expenses amid an expensive transition to electric vehicles and higher labor costs from a pending new union contract. Stellantis Chief Operating Officer Mark Stewart said in an all-hands meeting Monday that the company planned to offer voluntary separation packages to nonunion employees with at least five years of experience, according to people familiar with the matter. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Hyundai Motor America to Raise Alabama, Georgia Employees’ Hourly Wages
13Nov By adminNo Comments
World

Hyundai Motor America to Raise Alabama, Georgia Employees’ Hourly Wages

Nov. 13, 2023 12:14 pm ETHyundai Motor America will raise certain U.S. employees’ hourly wages next year.The auto manufacturer said the new wage structure starting in January for its production team members at Hyundai Motor Manufacturing Alabama and Hyundai Motor Group Metaplant America in Georgia will result in hourly wages increasing 25% by 2028.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Dongfeng Motor Group Launches Brand of AI-Powered Cars
13Nov By adminNo Comments
World

Dongfeng Motor Group Launches Brand of AI-Powered Cars

Dongfeng Motor Group has launched a brand of so-called smartcars, joining many companies in developing vehicles using artificial intelligence.The Chinese carmaker said in an exchange filing that the new brand, called Yue Xiang Zhi Neng (Sharing Intelligence), has features like an intelligent vehicle control and intelligent driving using in-house technology. The vehicles also have intelligent cockpits that can integrate with the cloud, mobile devices, and smart homes.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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