Stellantis (STLA) option IV increases
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Stellantis (STLA) to present new offer as UAW contract nears end
September 11, 2023 11:46 AM EDTDetroit automaker and Chrysler-parent, Stellantis (NYSE: STLA) announced Monday their plans to present a new counteroffer to the United Auto Workers (UAW) after the Union submitted their own revised offer to the company on Sunday. The unions current contract is scheduled to expire at midnight on Thursday.
The UAW on Friday had rejected revised offers from... More
Stellantis (STLA) launched 3rd round of share buybacks
September 11, 2023 10:41 AM EDTStellantis (NYSE: STLA) announced Monday that they have teamed up with an independent investment firm to buy back some of its shares as part of the companys third round of its buyback program.
Back in February 2023, Stellantis, the parent company of... More
Stellantis (STLA) to expand battery capacity to meet EV demand
September 8, 2023 2:39 PM EDTThe head of global propulsion systems at Stellantis (NYSE: STLA) announced Friday the company's intention to increase its battery production capacity to 400 GWh in order to meet the rising demand for electric vehicles.
"We have already announced about 250 gigawatt hours of capacity around the world. We believe... More
Stellantis (STLA) offers 14.5% wage increase to UAW's hourly workers
September 8, 2023 1:56 PM EDTChrysler-Dodge parent Stellantis (NYSE: STLA) revealed Friday that the Detroit automaker has proposed a 14.5% wage increase over a four-year period to U.S. hourly workers as part of its offer to the United Auto Workers (UAW) union, just prior to the contract's September 14 expiration date.
The proposed wage increase falls significantly short of the union's demand for a 46% salary raise. The UAW has declared that 97% of its... More
Wells Fargo sees looming risk for Detroit 3; 'The strike will be temporary, but the labor concessions are permanent'
September 8, 2023 11:09 AM EDTWells Fargo remains underweight on Ford (NYSE: F) and General Motors (NYSE: GM) as they continue to see significant risks for the OEMs heading into the expiring UAW contract, which expires on September 14th.
We expect a D3-wide strategic or "bottleneck" strike vs. national strike. This would shut down most D3 production without drawing on the strike fund. Writes analyst, Colin Langan
The strike will be temporary, but the labor concessions are permanent. He added.
Wells Fargo's primary scenario anticipates a strike lasting approximately 45 days involving... More
