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Volvo launches EX30 electric SUV
June 7, 2023 2:33 PM EDTSwedish luxury automaker, Volvo launched their new fully-electric EX30 SUV on Wednesday with two battery options and a starting price of around 36,000 euros ($38,500). The EX30 is Volvos smallest SUV to date and follows the unveiling of the larger electric EX90 in November.
"It's a small SUV doing Volvo things," CEO Jim Rowan said during the car's launch event in Milan,... More
Stellantis (STLA) launches second round of share buybacks
June 7, 2023 10:26 AM EDTStellantis (NYSE: STLA) announced Wednesday the start of their second round of share buybacks. The buyback program was announced on February 22, 2023, covering up to 1.5 billion (total purchase price excluding ancillary costs) to be executed in the open market with the intent to cancel the... More
Stellantis (STLA) and LG consider Ottawa's enriched subsidy offer as factory construction remains halted
June 6, 2023 3:03 PM EDTStellantis (NYSE: STLA) and LG Energy Solution are reviewing an enhanced subsidy deal from Ottawa designed to save an electric vehicle battery factory worth 2,500 Canadian jobs. Construction on the $3.7 billion factory was halted on May 15th when the companies alleged the federal government wasnt holding up its end of a deal.
Stellantis and LGES are in receipt of a written offer that is currently under financial and legal review, Stellantis Canada communications head LouAnn Gosselin told reporters.
Canadian Prime Minister,... More
EPA to scrap proposed EV volumes from biofuel blending rule
June 6, 2023 2:38 PM EDTReuters reports today, citing three unnamed sources familiar with the matter that the Biden administration is planning to discard a proposal to include the electric vehicle industry into the U.S. biofuel blending program. Additionally, the administration intends to retract tradable credits worth potentially billions of dollars that were associated with this initiative.
It was first reported in early May that the Environmental Protection Agency (EPA) was considering delaying the EV program over concerns the plan could trigger lawsuits. The... More
