INSIDER
Italian autoworkers go on strike, as troubled Stellantis faces pressure over production plans
Read full article: Italian autoworkers go on strike, as troubled Stellantis faces pressure over production plansWorkers in Italyโs troubled automotive sector are holding a national strike for the first time in 20 years, with a massive demonstration crossing the center of Rome.
Stellantis CEO under fire from Italian lawmakers as the group grapples with financial troubles
Read full article: Stellantis CEO under fire from Italian lawmakers as the group grapples with financial troublesItalian lawmakers on Friday questioned the head of troubled French-Italian automaker Stellantis over the groupโs strategy, one day after it announced a management shakeup in an effort to revive sales.
Italy's automotive workers plan to strike on Oct. 18 over a fall in output at Stellantis
Read full article: Italy's automotive workers plan to strike on Oct. 18 over a fall in output at StellantisItaly's main metalworkers union says workers in the automotive sector will go on strike on Oct. 18 in protest of declining output from Stellantis, the biggest carmaker in the country.
Struggling Jeep and Ram maker Stellantis is searching for an new CEO
Read full article: Struggling Jeep and Ram maker Stellantis is searching for an new CEOStruggling Jeep and Ram maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says itโs just part of a normal leadership succession plan.
UAW's rift with Stellantis raises fear that some US auto jobs could vanish
Read full article: UAW's rift with Stellantis raises fear that some US auto jobs could vanishU.S. autoworkers warn that a dispute between their union and Stellantis over delays in reopening a shuttered factory in Belvidere, Illinois, is much bigger than that one plant.
Stellantis to invest $406 million at 3 factories, a step toward meeting commitments in UAW contract
Read full article: Stellantis to invest $406 million at 3 factories, a step toward meeting commitments in UAW contractStellantis will spend $406 million retooling three Michigan factories so they can build electric vehicles or battery parts.
Stellantis warns union of 2,000 or more potential job cuts at an auto plant outside Detroit
Read full article: Stellantis warns union of 2,000 or more potential job cuts at an auto plant outside DetroitStellantis is warning that it could lay off as many as 2,450 of the 3,700 union workers employed at a truck plant just outside of Detroit.
To cut costs and keep vehicle prices down, Stellantis makes buyout offers to US white-collar workers
Read full article: To cut costs and keep vehicle prices down, Stellantis makes buyout offers to US white-collar workersJeep and Ram maker Stellantis says it will offer buyout packages to many of its U.S. white-collar workers just five days after the companyโs CEO said the auto industry is in the middle of a significant storm.
Automakers hit 'significant storm,' as buyers reject lofty prices at time of huge capital outlays
Read full article: Automakers hit 'significant storm,' as buyers reject lofty prices at time of huge capital outlaysInvestors are punishing automakersโ stocks this week after second-quarter earnings reports exposed industrywide issues of slowing sales and high prices.
Europe's Stellantis and China's Leapmotor will sell electric cars in Europe in September
Read full article: Europe's Stellantis and China's Leapmotor will sell electric cars in Europe in SeptemberEuropean carmaker Stellantis says it will begin selling electric vehicles from its Chinese partner Leapmotor in nine European countries later this year.
Carmaker Stellantis CEO wary of Chinese offensive as market moves into electric vehicles
Read full article: Carmaker Stellantis CEO wary of Chinese offensive as market moves into electric vehiclesStellantis CEO Carlos Tavares has his attention fixed on Chinese competitors as the automakerโs launch of its electric vehicle strategy begins in earnest.
Flexible underpinnings of new big Stellantis vehicles will help company navigate political changes
Read full article: Flexible underpinnings of new big Stellantis vehicles will help company navigate political changesOn the surface, the platform beneath a new generation of automobiles has little to do with politics and elections.
Stellantis CEO dangles a potential factory relaunch as autoworkers say a strike is possible
Read full article: Stellantis CEO dangles a potential factory relaunch as autoworkers say a strike is possibleStellantis CEO Carlos Tavares has dangled a potential relaunch of a shuttered Illinois factory if it can be made more competitive as the United Auto Workers Union says a strike is possible.
Stellantis says new small- and medium-sized electric vehicles will get up to 435 miles per charge
Read full article: Stellantis says new small- and medium-sized electric vehicles will get up to 435 miles per chargeStellantis says that when it starts to sell compact and midsize electric vehicles off new underpinnings next year, they will be able to go up to 435 miles (700 kilometers) per charge.
Tesla technology inches closer to becoming industry standard as Rivian joins its charging network
Read full article: Tesla technology inches closer to becoming industry standard as Rivian joins its charging networkElectric vehicle maker Rivian says it will follow General Motors and Ford and join Teslaโs charging network next year.
Macron, Le Pen decry 'shocking' Stellantis CEO pay
Read full article: Macron, Le Pen decry 'shocking' Stellantis CEO payFrench President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, have decried as โshockingโ the multimillion euro payout to the CEO of carmaker Stellantis.
Carmaker Stellantis loses former FCA CEO Manley
Read full article: Carmaker Stellantis loses former FCA CEO ManleyPSA Peugeotโs takeover of Fiat Chrysler to form the worldโs fourth-largest carmaker has had its first executive casualty, with former Fiat Chrysler CEO Mike Manley stepping down from his role of head of the Americas.
Carmaker Stellantis reports record 1H margins, $7b profits
Read full article: Carmaker Stellantis reports record 1H margins, $7b profitsAutomaker Stellantis says it achieved faster-than-expected progress on synergies and record margins in its first six months as a combined company, despite suffering 700,000 units in lower production due to interruptions in the semiconductor supply chain.
Stellantis, Foxconn team up to make cars more connected
Read full article: Stellantis, Foxconn team up to make cars more connectedCarmaker Stellantis and Taiwanโs Foxconn have announced plans to develop a jointly operated automotive supplier focusing on technology to make vehicles more connected, including artificial intelligence-based applications and 5-G communications.
Stellantis CEO says 4th largest carmaker to be disruptive
Read full article: Stellantis CEO says 4th largest carmaker to be disruptiveThe Italian-American carmaker and the French mass-market automotive company completed their merger on Jan. 16, creating Stellantis, the worldโs fourth-largest carmaker, despite a pandemic year that saw profits plunge. โStellantis is not born from a crisis,โโ Tavares told a conference call after fourth-quarter earnings were released. Fiat Chrysler reported adjusted net profits in the pandemic year of 1.9 billion euros ($2.3 billion), down 57% from 2019. PSA reported earnings of 2.2 billion euros, a drop of 32%. Fiat Chrysler reported fourth-quarter adjusted earnings before interest and taxes of 2.3 billion euros, a record 2.2 billion euros of those generated in North America, where the profit margin was 11.6%.
Stellantis CEO: New car company will protect jobs and brands
Read full article: Stellantis CEO: New car company will protect jobs and brandsStellantis shares start trading in New York in the new auto giant created by the merger of Fiat Chrysler and PSA Peugeot. But Tavares was confident that brands would be boosted, factories would be filled and no jobs would be lost, at least initially. โOur commitment on this merger is that we will not shut down plants as a consequence of the merger,โโ Tavares said. โI think that thereโs many more things to do in our car company than just cutting costs,โ he said. The PSA Group merger with Fiat Chrysler was completed on Saturday, creating the world's fourth largest car manufacturer.
Carmaker Stellantis shares jump in Milan, Paris on first day
Read full article: Carmaker Stellantis shares jump in Milan, Paris on first dayStellantis, the car company combining PSA Peugeot and Fiat Chrysler, was launched Monday on the Milan and Paris stock exchanges, giving life to the fourth-largest car company in the world. (AP Photo/Peter Dejong)MILAN โ Stellantis, the car company combining PSA Peugeot and Fiat Chrysler, was launched Monday on the Milan and Paris stock exchanges, giving life to the fourth-largest auto company in the world. Stellantis shares rallied 7.6% in Milan to 13.53 euros ($16.32). CEO Carlos Tavares said during a virtual bell-ringing ceremony that the merger creates 25 billion euros in shareholder value. Its closing market capitalization was under 20 billion euros, far off its 2018 highs of more than 30 billion euros.
Fiat Chrysler, Peugeot shareholders approve merger
Read full article: Fiat Chrysler, Peugeot shareholders approve mergerFiat Chrysler Shareholders of Fiat Chrysler and France's PSA Group are meeting Monday, Jan. 4, 2021 to vote on a merger that will create the world's fourth-largest automaker. Fiat Chrysler shares were up 0.2% in New York on Monday at $18.13, while Peugeot rose 1.7% to 22.75 euros. Fiat Chrysler announced Monday that its stockholders as of Jan. 15 will get a special cash payment worth 1.84 euros ($2.26) per common share after the merger closes. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Fiat Chrysler said there are no plans to close any plants.
Cuts likely as Fiat Chrysler-PSA tie-up nears approval
Read full article: Cuts likely as Fiat Chrysler-PSA tie-up nears approvalFiat Chrysler Shareholders of Fiat Chrysler and France's PSA Group are meeting Monday, Jan. 4, 2021 to vote on a merger that will create the world's fourth-largest automaker. Experts say that means Tavares, currently the head of PSA Group, is likely to follow that blueprint when he becomes leader of a merged PSA and Fiat Chrysler Automobiles. The low-performing Chrysler brand might get the axe as could slow-selling cars, SUVs or trucks that lack potential. He likely will target Europe for consolidation first, because thatโs where Fiat vehicles overlap extensively with PSAโs, said IHS Markit Principal Auto Analyst Stephanie Brinley. In December the companies announced that Fiat Chrysler CEO Mike Manley would run Stellantisโ operations in the Americas.
Fiat Chrysler CEO Manley to run Americas after PSA merger
Read full article: Fiat Chrysler CEO Manley to run Americas after PSA mergerFILE - In this Jan. 14, 2019 file photo, Fiat Chrysler's new CEO, Mike Manley, is interviewed at the North American International Auto Show in Detroit. Manley will run operations in the Americas when his company merges with Frances PSA Peugeot early next year. FCA Chairman John Elkann announced Manleys new post on Friday, Dec. 18, 2020 in a letter to employees. (AP Photo/Carlos Osorio)DETROIT โ Fiat Chrysler CEO Mike Manley will run operations in the Americas when his company merges with Franceโs PSA Peugeot early next year. PSA CEO Carlos Tavares will run the overall company, to be named Stellantis.