Friday, November 22

Tag: Stellantis

China’s Latest EV Stocks Face Uncertain Reception in New York
29Nov By adminNo Comments
Money

China’s Latest EV Stocks Face Uncertain Reception in New York

Electric vehicles have really taken off in China, but so has competition. That is the conundrum investors face as they size up the latest EV brands pitching their growth prospects in New York.Lotus Technology is in the final stages of a merger with a Nasdaq-listed special-purpose acquisition company that values it at $5.5 billion. This week it said investors had committed $870 million to the deal, a step toward closure. Zeekr Intelligent Technology Holding, which raised money in February at a $13 billion valuation, filed its registration statement earlier this month for a U.S. initial public offering.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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China’s Latest EV Stocks Face Uncertain Reception in New York
29Nov By adminNo Comments
World

China’s Latest EV Stocks Face Uncertain Reception in New York

Electric vehicles have really taken off in China, but so has competition. That is the conundrum investors face as they size up the latest EV brands pitching their growth prospects in New York.Lotus Technology is in the final stages of a merger with a Nasdaq-listed special-purpose acquisition company that values it at $5.5 billion. This week it said investors had committed $870 million to the deal, a step toward closure. Zeekr Intelligent Technology Holding, which raised money in February at a $13 billion valuation, filed its registration statement earlier this month for a U.S. initial public offering.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Stellantis Repurchases $1.02 Bln Shares From Dongfeng Motor
23Nov By adminNo Comments
World

Stellantis Repurchases $1.02 Bln Shares From Dongfeng Motor

Stellantis has bought back 50 million common shares from Dongfeng Motor International valued at 934 million euros ($1.02 billion).The maker of Jeep, Dodge and a dozen other brands said late Wednesday that it will cancel the shares from the Hong Kong-based company, a subsidiary of China’s Dongfeng Motor Group Company. Stellantis has a joint venture with the parent company.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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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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Ford, Stellantis, and GM workers overwhelmingly ratify new contracts that raise pay across industry
18Nov By adminNo Comments
Money

Ford, Stellantis, and GM workers overwhelmingly ratify new contracts that raise pay across industry

The United Auto Workers union overwhelmingly ratified new contracts with Ford and Stellantis, along with a similar deal with General Motors will raise pay across the industry, force automakers to absorb higher costs and help reshape the auto business as it shifts away from gasoline-fueled vehicles.Workers at Stellantis, the maker of Jeep, Dodge and Ram vehicles, voted 68.8% in favor of the deal. Their approval brought to a close a contentious labor dispute that included name-calling and a series of punishing strikes that imposed high costs on the companies and led to significant gains in pay and benefits for UAW workers.The deal at Stellantis passed by a roughly 10,000 vote margin, with ballot counts ending Saturday afternoon. Workers at Ford voted 69.3...
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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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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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One automaker’s solution to in-trip EV battery power depletion? A generator
7Nov By adminNo Comments
Money

One automaker’s solution to in-trip EV battery power depletion? A generator

Detroit — One of the biggest reasons people cite when saying they won't buy an electric vehicle is "range anxiety": the fear of running out of juice on the road with nowhere to recharge. Stellantis' Ram brand may have an answer for that, especially for people who need a truck to haul or tow things. It's called the Ramcharger, a pickup that can travel 145 miles on electricity, with a 3.6-liter V6 gas-powered engine linked to a generator that can recharge the battery while the truck is moving. A 2025 Ram 1500 Ramcharger Tungsten is shown in undated photo provided by Stellantis. Stellantis / AP Electric vehicle sales growth is starting to slow, causing automakers to rethink hu...
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Car Companies Agree to Pay Striking Workers in Unusual UAW Win
2Nov By adminNo Comments
World

Car Companies Agree to Pay Striking Workers in Unusual UAW Win

Ford Motor, General Motors and Chrysler-parent Stellantis agreed to pay striking workers for their time on the picket lines, as part of new labor deals reached late last month with the United Auto Workers to end the union’s walkout. The move is an unusual one in the union’s history of negotiating with the car companies, according to people familiar with the talks. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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How UAW contracts changed with new Ford, GM and Stellantis deals
31Oct By adminNo Comments
Money

How UAW contracts changed with new Ford, GM and Stellantis deals

Experts break down the UAW's tentative agreements with the Big Three Experts break down the UAW's tentative agreements with the Big Three 05:45 The United Auto Workers late Monday formally ended their six-week strike against Detroit's Big 3 automakers, with union leaders saying they have inked tentative labor agreements with Ford, General Motors and Stellantis.Labor experts described the enhanced pay and benefits that all three companies are offering as a victory for the UAW and its 14...
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