Stellantis (STLA) and Credit Agricole sign agreement to acquire activities of ALD and LeasePlan

LG Energy in talks with Toyota (TM) to supply EV batteries

March 24, 2023 2:16 PM EDT

LG Energy CEO Kwon Young Soo announced Friday that the South Korean battery giant has entered into talks with Toyota Motors (NYSE: TM) in the hopes of supplying the automaker with EV batteries.

When asked about the negotiation progress with... More

UBS survey shows slowing pace of EV sector

March 24, 2023 7:38 AM EDT

UBS conducted the seventh wave of its annual UBS Evidence Lab EV consumer survey with results showing 46% of consumers are likely to consider buying a fully electric car (BEV), a 3%-pts decrease y/y, marking the first sequential decline since the surveys inception in 2016. Analyst Patrick Hummel believes that the decline was driven by European markets on affordability concerns.

Hummel wrote in a note, While we... More

VW aiming for 3M small EVs produced in Spain between 2025-2030

March 22, 2023 8:48 AM EDT

Wayne Griffiths, the chairman of Volkswagen's Spanish unit SEAT, said on Wednesday that the German carmaker plans to produce 3 million small electric vehicles at its two plants in Spain between 2025 and 2030.

Griffiths said in a news conference that SEAT aims to assemble 500,000 electric cars a year in the... More

Stellantis (STLA) to invest €130M in German assembly plant

March 22, 2023 8:14 AM EDT

Stellantis (NYSE: STLA) announced Wednesday that the American automaker will invest over 130 million in the Eisenach Assembly Plant in Germany to add production of the BEV successor vehicle to the Opel Grandland compact SUV currently built at the location. The new vehicle will be built on the all-new STLA Medium platform. Production of the new BEV is scheduled to begin in the second half of 2024.

Eisenach, our most compact plant in Germany, has demonstrated a strong drive in quality improvements, said Arnaud Deboeuf,... More

Nike, First Republic and Luminar fall premarket; GameStop, Virgin Orbit soar

March 22, 2023 8:14 AM EDT

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, March 22nd. Please refresh for updates.

First Republic Bank (NYSE: FRC) stock fell 5.3% ahead of the Fed rate decision even as negotiators in Washington and on Wall Street discuss potential government... More

Stellantis (STLA) and Credit Agricole JV to Acquire Activities of ALD in Portugal and LeasePlan in Luxembourg

March 22, 2023 5:56 AM EDT

Stellantis and Crédit Agricole Consumer Finance Joint Venture Plans to Acquire Activities of ALD in Portugal and LeasePlan in Luxembourg

NewCo, resulting from the consolidation of Leasys and Free2move Lease and owned equally by Stellantis and Crédit Agricole... More

Stellantis (STLA) to Invest EUR 130M in Eisenach Assembly Plant

March 22, 2023 5:53 AM EDT

Stellantis Invests 130 Million in Eisenach Assembly Plant in Germany for Electric Opel Grandland Successor

New battery electric vehicle (BEV) production on the STLA Medium platform set to launch in the second half of... More

Prepare for lower margins as Tesla (TSLA) price cuts become a 'feature' of EV market - Morgan Stanley

March 20, 2023 11:51 AM EDT

Morgan Stanley reiterated an Overweight rating and $220.00 price target on Tesla (NASDAQ: TSLA) as analyst Adam Jonas believes that investors should anticipate further price cuts in EVs.

Jonas wrote in a note, We believe EV price cuts are not a fad, but a trend. While subject to volatility, investors should anticipate further price cuts in EVs with cost-leader Tesla setting the tone.

One of the reasons Jonas... More