STLA – The News Desk

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

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

Stellantis Repurchases $1.02 Bln Shares From Dongfeng Motor

23Nov

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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

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

21Nov

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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

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

15Nov

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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

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

13Nov

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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

It May Be Too Late to Fend Off China’s Battery Giants

7Nov

By adminNo Comments

Money

It May Be Too Late to Fend Off China’s Battery Giants

Updated Nov. 7, 2023 12:00 am ETHaving charged up in their massive home market, Chinese electric-vehicle-battery firms are becoming major export players, too. The West’s efforts to protect its own markets might prove too little, too late.Chinese firms are also eyeing big new factory expansions in Europe itself, and in U.S. free trade partners, as a way to sidestep current and future import restrictions—much like Japanese carmakers did in the U.S. in the 1980s.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Car Companies Agree to Pay Striking Workers in Unusual UAW Win

2Nov

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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

Canadian Auto Workers Reach Deal With Stellantis After Brief Strike

30Oct

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World

Canadian Auto Workers Reach Deal With Stellantis After Brief Strike

Updated Oct. 30, 2023 9:20 am ETTORONTO—Canadian auto workers reached a tentative deal with Stellantis after a brief strike kicked in at midnight on Monday.The walkout by about 8,200 members of Canada’s Unifor union lasted just hours before the union and the automaker settled their remaining issues at the bargaining table. The strike threatened to close five Stellantis plants in Canada.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Detroit Is Paying Up to End the UAW Strike. Now Carmakers Will Live With the Costs.

30Oct

By adminNo Comments

World

Detroit Is Paying Up to End the UAW Strike. Now Carmakers Will Live With the Costs.

Updated Oct. 30, 2023 7:47 am ETThe end of the United Auto Workers strikes against Ford Motor and Chrysler-parent Stellantis offered some relief in Detroit after a bruising six-week labor showdown. But the car companies aren’t in a celebratory mood.The details of the UAW’s tentative labor pacts with Ford and Stellantis, reached in recent days, show that the automakers’ labor-cost disadvantage to rivals such as Toyota and Tesla is about to get worse, just as many aspects of their growth plans get cloudier. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8