Category: Stellantis
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Stellantis chief quits following fallout over Luton van factory closure
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Carlos Tavares, CEO of automobile giant Stellantis, has resigned from his position with immediate effect following reports of disagreements with group chairman John Elkann. The announcement comes just days after Tavares ordered the closure of Stellantis’ Vauxhall van factory in Luton, putting 1,000 jobs at risk. The decision to close…
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Vauxhall workers face 140-mile relocation or job loss as Stellantis shuts factory
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Car maker giant Stellantis has announced plans to close its 120-year-old factory that makes many Vauxhall cars, leaving more than 1,000 employees with the daunting dilemma of moving 140 miles north or losing their jobs. The $205 billion carmaker said it plans to cease operations at its Luton truck manufacturing…
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Stellantis CEO Carlos Tavares to retire in 2026 as automaker struggles in North America By Reuters
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Written by Nora Eckert DETROIT (Reuters) – Chrysler Stellantis (NYSE:) parent company confirmed on Thursday that CEO Carlos Tavares will retire at the end of his contract in early 2026 and announced major changes at top management as it struggles to turn around its lagging North American operations. . Earnings…
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Stellantis sues UAW in US federal court over strike threats By Reuters
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Written by David Shepardson and Ben Klayman WASHINGTON/DETROIT (Reuters) – Stellantis, the parent company of Chrysler (NYSE:), has filed a federal lawsuit against the United Auto Workers, saying the union violated a contract by threatening to strike over the company’s delay in a planned investment. The automaker filed the lawsuit…
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Levi Strauss, Tesla, Stellantis fall premarket; EQT Corporation rises By Investing.com
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Investing.com – US stocks fell on Thursday, with traders nervous ahead of Friday’s important monthly jobs report and as tensions in the Middle East remain fraught. Here are some of the biggest movers of US stocks in the pre-market today Levi Strauss (NYSE:) stock fell 11% after the jeans maker…
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Stellantis recalls 194,000 Jeep plug-in hybrids over fire risks By Reuters
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WASHINGTON (Reuters) – Stellantis (NYSE:) said on Monday it was recalling 194,000 Jeep hybrid electric SUVs to address fire risks after 13 fires were reported, and asked owners to park their vehicles outside and away from other vehicles until repairs to the recall are completed. . . The Italian-American automaker…
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What’s Going On With Stellantis Stock Monday?
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What happens with Stellantis stock on Monday? Stellantis Nevada (NYSE:STLA) stock fell on Monday after revising its price Financial guidance for 2024 To reflect its remedial actions to North American performance issues and deterioration in global industry dynamics. Automotive competitors, incl General Motors Company (NYSE: General Motors) and Ford Motor…
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China’s Leapmotor and Stellantis open orders in Europe for budget EVs By Reuters
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MILAN (Reuters) – Chinese automaker LibMotor and partner Stellantis said on Tuesday they would start taking orders in Europe for a city car and an SUV as they expand their low-cost electric vehicle offering in the region. Stellantis owns a 51% stake in its joint venture Leapmotor International and has…
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Stellantis begins search for successor to CEO Carlos Tavares By Reuters
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(Reuters) – Stellantis said on Monday it has begun searching for a candidate to succeed Chief Executive Carlos Tavares, whose contract is due to expire in 2026. However, the automaker added that there is still a possibility that Tavares will stay longer. Tavares has been under pressure to turn around…
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Stellantis dealers in U.S. blame CEO for ‘rapid degradation’ of its brands
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jetcityimage/iStock Editorial via Getty Images Stellantis’NYSE: STLAThe U.S. auto dealer network has criticized CEO Carlos Tavares for the “rapid decline” of its brands, accusing him of “short-term decisions” that have increased profits and his own compensation, according to an open letter seen by Bloomberg. The car manufacturer has The company…
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Stellantis CEO visits US to create plan to reverse lagging profit, sources say By Reuters
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By Giulio Piovaccari, Gilles Guillaume and Nora Eckert DETROIT (Reuters) – Stellantis Chief Executive Carlos Tavares has begun a three-day visit to Detroit where he will seek to develop a strategy to overhaul the European automaker’s troubled North American operations and reassure employees and investors, two people familiar with the…
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Stellantis triggers government scrutiny with Comau stake sale By Reuters
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MILAN (Reuters) – Automaker Stellantis will sell a majority stake in its robotics unit Comao to OneEquity Partners, the three companies said in a statement on Thursday, in a move aimed at supporting Comao’s expansion beyond the automotive sector. Financial details of the deal were not disclosed, but US private…
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The Italian billionaire family behind Ferrari and Stellantis, bolster their stake in Philips to $4.19 billion
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The family of Italian billionaire Agnelli has increased its stake in Royal Philips NV, giving it a stake worth $4.19 billion, in a sign of increased confidence in the Dutch medical device manufacturer. Agnellis’ Exor NV now owns 17.51% of Philips, according to a U.S. regulatory filing late Tuesday. It…
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Stellantis to announce Italy-produced hybrid version of 500 EV, sources say By Reuters
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MILAN (Reuters) – Fiat owner Stellantis (NYSE:) is expected to announce on Monday a hybrid version of its 500e small electric car that will be produced at its Mirafiori plant in Italy, two sources familiar with the matter said, confirming a report from Automotive. europe news. The announcement is expected…