Stellantis (STLA) invests in direct lithium extraction project

Stellantis (STLA) AEG report shows a union strike could cost the U.S. auto industry $5.5B

August 21, 2023 3:11 PM UTC

Anderson Economic Group (AEG) released a report late last week highlighting the potential economic impact of a 10-day auto union strike. According to the report, AEG estimates a strike on all three automakers by 143,000 United Auto Workers (UAW) members could result in a total economic loss of more than $5 billion after 10 full days.

The assessment adopts a holistic perspective, considering not only the impacts on workers and manufacturers, but also the potential repercussions on car dealers and parts suppliers that could result from a... More

Stellantis (STLA) threatened to move RAM 1500 production to Mexico, union leader says

August 21, 2023 2:36 PM UTC

United Auto Workers (UAW) union Vice President, Rich Boyer revealed Sunday that Dodge-Chrysler parent Stellantis (NYSE: STLA) threatened to relocate production of their Ram 1500 pickup trucks from its location in metro Detroit to a facility in Mexico.

The threat comes as contract negotiations for thousands of autoworkers have reached a near boiling point. The UAW will hold a vote this week to award... More

California DMV probes GM's Cruise robotaxi following crash

August 21, 2023 11:20 AM UTC

The California Department of Motor Vehicles (DMV) announced Friday that the state auto regulator has opened an investigation into recent concerning incidents surrounding General Motors (NYSE: GM) Cruise autonomous vehicle unit. The DMV has also asked that GM remove half of their robotaxis from service while the investigation is under way.

The statement from the California DMV follows an incident involving a Cruise robotaxi and an emergency vehicle in San Francisco late on Thursday, the latest accident involving the self-driving cars.

"The DMV reserves the right,... More

Cisco Systems and Ball rise premarket; CVS, Wolfspeed and Tapestry lower

August 17, 2023 8:59 AM UTC

Investing.com -- U.S. futures traded higher Thursday, rebounding after two consecutive days of losses amid more earnings from the retail sector and weekly jobless claims data.

Here are some of the biggest premarket U.S. stock movers today:

Walmart (NYSE: WMT) stock fluctuated after raising its full-year forecast as... More

Stellantis (STLA) Invests $100M in CTR

August 17, 2023 6:03 AM UTC

Stellantis Invests in CTR to Strengthen Low Emissions U.S. Lithium Production

Stellantis invests over $100 million to advance the development of geothermal lithium project in California and encourage decarbonization of battery electric vehicle supply chainsNew agreement includes a supply increase from the initial plan of 25,000 metric tons to up to 65,000 metric tons per year of battery-grade lithium hydroxide... More

GM invests $60M in EV battery startup, Mitra Chem

August 16, 2023 10:13 AM UTC

General Motors (NYSE: GM) announced Wednesday that the American automaker will be investing in Silicon Valley startup, Mitra Chem with an aim to help the new company speed the development of a more affordable battery chemistry for use in electric vehicles.

GM is set to spearhead a $60 million investment in Mitra Chem. The startup... More

VinFast shares slip after soaring in debut trading day

August 16, 2023 9:55 AM UTC

Investing.com -- Shares in VinFast Auto (NASDAQ: VFS) slumped sharply in early U.S. trading on Wednesday after the Vietnamese electric vehicle start-up's stock soared by 255% in their debut on the Nasdaq Global Select Market on Tuesday.

The firm, which went public via a merger with special-purpose acquisition company Black Spade, ended the prior session valued at... More

Hyundai to purchase GM’s India plant as American OEM prepares market exit

August 16, 2023 9:26 AM UTC

Hyundai Motors is set to acquire General Motors' (NYSE: GM) Talegaon plant located in the western state of Maharashtra. This strategic step not only facilitates the departure of the U.S. automaker from the Indian market but also helps to supplement Hyundai's annual manufacturing output.

Hyundai revealed Wednesday that the automaker plans... More

GM backs EV battery startup as it shifts future focus to cheaper materials

August 16, 2023 8:16 AM UTC

By Akash Sriram and Paul Lienert

DETROIT (Reuters) - General Motors is investing in a Silicon Valley startup to help it speed development of a more affordable battery chemistry for its future electric vehicles, the company said on Wednesday.

GM will lead a $60 million investment in Mitra Chem, a two-year-old Mountain View, California, company that uses artificial intelligence to accelerate development of lithium-ion battery materials.

Mitra Chem will help the automaker develop advanced iron-based cathode active materials such as lithium manganese iron phosphate (LMFP) that could be used in some of GM's next-generation Ultium batteries after 2025.

... More

Target to report, VinFast's market debut - what's moving markets

August 16, 2023 6:09 AM UTC

Investing.com -- U.S. stock futures inch into the green, hinting at a recovery from declines in the preceding session, as investors looked ahead to results from big-box retailer Target . Elsewhere, private equity TPG reportedly approaches EY over purchasing a stake in the financial services group's consulting arm, while VinFast's backdoor listing sees the value of the Vietnamese electric vehicle start-up climb above U.S. car giants Ford and General Motors.

1. Futures rise after declines on Wall Street

U.S. stock... More

Target to report, VinFast's market debut - what's moving markets

August 16, 2023 6:09 AM UTC

Investing.com -- U.S. stock futures inch into the green, hinting at a recovery from declines in the preceding session, as investors looked ahead to results from big-box retailer Target . Elsewhere, private equity TPG reportedly approaches EY over purchasing a stake in the financial services group's consulting arm, while VinFast's backdoor listing sees the value of the Vietnamese electric vehicle start-up climb above U.S. car giants Ford and General Motors.

1. Futures rise after declines on Wall... More

UAW to hold a vote authorizing a strike as talks continue at slow pace

August 15, 2023 2:01 PM UTC

Union President Shawn Fain released a statement Tuesday indicating that negotiations with Detroit automakers continues to move at a snails pace and have yet to even address the issues surrounding wages and other economic issues.

The United Auto Workers union (UAW) boasts a membership of approximately 146,000 members who will vote next week on authorizing their leaders to call strikes against the Big Three. The unions contracts with General Motors (NYSE: GM), Ford (NYSE: F) and... More

Home Depot, Tesla, Tencent Music fall premarket; Nvidia, DR Horton rise

August 15, 2023 8:35 AM UTC

Investing.com -- U.S. futures fell Tuesday, ahead of the release of key retail sales data, while weak Chinese economic data raised concerns about slowing global growth.

Here are some of the biggest premarket U.S. stock movers today:

Home Depot... More

General Motors (GM) option IV amid union contract talks

August 15, 2023 5:05 AM UTC

General Motors (NYSE: GM) 30-day option implied volatility is at 32; compared to its 52-week range of 27 to 60 into their current union contracts end on September 14.

... More

Stellantis (STLA) option IV amid union contract headlines

August 15, 2023 5:04 AM UTC

Stellantis (NYSE: STLA) 30-day option implied volatility is at 28; compared to its 52-week range of 23 to 423 into their current union contracts end on September 14.

... More