Tag: $Stellantis

Automaker Stellantis is investing 38 million euros ($41 million) in its Verrone plant in Northern Italy to manufacture parts for electric engines for its upcoming small-size models, it said on Monday.

Stellantis and Iveco said on Friday they have agreed for the automaker to supply the Italian truckmaker two fully-electric (EV) van models, helping Iveco further expand its EV van range in Europe.

Stellantis said on Monday it would make dual-clutch transmissions for hybrid vehicles at its Termoli plant in Southern Italy, which its joint venture ACC has earmarked for the creation of an electric vehicle battery-making hub.

Vehicle production by car maker Stellantis in Italy fell by 37% last year, hit in particular by a steep plunge in car manufacturing, union figures showed on Friday.

Automaker Stellantis and Chinese battery giant CATL on Tuesday announced plans to jointly build a 4.1 billion euro ($4.3 billion), large-scale lithium iron phosphate (LFP) battery plant in Spain.

Stellantis Chief Executive Carlos Tavares resigned abruptly on Sunday, two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost around 40% of its value this year.

Auto giant Stellantis on Thursday reported a 27% decline in third-quarter net revenues, but said it was making headway in addressing operational issues such as U.S. inventories.

Automaker Stellantis plans to shutter and sell its large vehicle proving grounds in Arizona at the end of this year, CNBC has learned.

Stellantis said on Wednesday that it is recalling 20,755 hybrid crossover SUVs in the U.S. due to a concern with the brake pedal on impacted models.

Chrysler parent Stellantis confirmed on Thursday that CEO Carlos Tavares would retire at the end of his contract in early 2026 and announced major senior management changes as it struggles to turn around its lagging North American operations.

Stellantis CEO Carlos Tavares pledged on Thursday to keep its dividend and share buyback programme in place this year, but did not rule out cuts in 2025, as investors worry that the carmaker’s financial woes will hamper future payouts

Stocks of European carmakers hemorrhaged early on Monday as Stellantis and British luxury brand Aston Martin issued profit warnings, citing broader industry challenges and difficulties in the world’s largest auto market, China.

The United Auto Workers union is eying multiple U.S. strikes against French-Italian carmaker Stellantis about a year after a national walkout cost the Detroit Three automakers billions of dollars and idled 50,000 workers.

Stellantis’ Jeep brand is well known for scaling tough terrains, but its latest challenge of achieving 1 million vehicle sales domestically by 2027 will be a steep hill to climb.

Global automaker Stellantis on Tuesday reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm.

In North America, Stellantis’ adjusted operating income margin fell 100 basis points year on year to 15.4%, which the auto giant said was “due primarily to production disruptions and costs related to new labor agreements.”

MILAN, Nov 20 (Reuters) – Fiat-parent company Stellantis will start in-depth talks with the Italian government next month to finalise a broad agreement for the country’s automotive industry, including higher domestic production targets.

Stellantis -0.22%looks set to emerge from the six-week United Auto Workers strike with less damage than Ford Motor -1.94%and General Motors 0.51%. Overall, performance looks a little better than peers.

Carmaker Stellantis on Wednesday posted a 12% year-on-year jump in net revenues and 37% spike in net profit for the first half of 2023, boosted by higher shipments.

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Stellantis, the third-largest carmaker in the world by revenue, will reveal its first European-made, affordable electric car in mid-October.