Stellantis, an automotive colossus that owns more than a dozen brands including Chrysler, Fiat, Jeep, Peugeot and Ram, is facing challenges at seemingly every turn. The company’s sales and profit have been plummeting. Dealers stuck with parking lots filled with unsold cars are publicly criticizing Stellantis and its CEO in unusually harsh terms. Stellantis’ stock … Read more
Stellantis is buying a 21% stake in Leapmotor for $1.6 billion, it said on Thursday, in a reset of its China strategy to focus on electric vehicles after years of poor sales and manufacturing pullback in the world’s biggest auto market. The Chinese EV maker also announced the formation of a joint venture with Stellantis, … Read more
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Intel Chief Executive Pat Gelsinger plans to attend a virtual White House meeting on the global chip shortage, along with representatives from companies including Apple, Microsoft, Samsung Electronics, GM, Ford, and Stellantis, people familiar with the matter said. The meeting will be hosted by Secretary of Commerce Gina Raimondo and National Economic Council Director Brian … Read more
BRUSSELS: The European Union on Monday gave conditional approval to the mega-merger of car giants Fiat Chrysler (FCA) and Peugeot Citroen (PSA), after the firms promised to address competition fears. The tie-up, which was announced late last year and planned to be completed in early 2021, will create Stellantis, set to be the world’s fourth-largest … Read more