FIAT CHRYSLER
1 million to $13 million in 5 yrs: 'Indian Warren Buffet' Mohnish Pabrai shares his success journey
Mohnish Pabrai, an Indian-American investor and founder of Pabrai Investment Funds, credits his success to emulating Warren Buffett's investment principles. Pabrai's journey, marked by substantial returns and strategic bets, showcases the efficacy of Buffett's methods. Known for his high-return investments and avoidance of startups and IPOs, Pabrai's approach emphasizes value investing and selectivity. His net worth and insights on investment strategies highlight the power of disciplined, long-term investing.
Stellantis considering India manufacturing of affordable EVs
The group, which owns several brands including Chrysler, Citroën, Fiat and Jeep, is considering locally manufacturing affordable electric vehicles from its Chinese joint venture partner Leapmotor at its facility in Thiruvallur, Tamil Nadu.
Stellantis resets China strategy with $1.6 billion stake in EV firm Leapmotor
Stellantis, the parent company of Chrysler, is purchasing a 21% stake in Chinese electric vehicle (EV) maker Leapmotor for $1.6 billion. This move is part of Stellantis' strategy to focus on EVs in China after struggling with poor sales in the country. Stellantis will also establish a joint venture with Leapmotor, giving it exclusive rights to export, sell, and manufacture Leapmotor's products outside of Greater China. This partnership reflects the growing trend of automotive alliances in China and highlights the country's emergence as a global center for EV technology.
Ford, GM lay off about 500 more US workers due to strike
Ford and General Motors have announced that approximately 500 more workers have been temporarily laid off as a result of the ongoing strike by the United Auto Workers (UAW) at the "Big Three" automakers in Detroit. These employees were sent home due to the UAW strikes on assembly plants, while most of the union's hourly auto workers remain on the job.
What's at stake as 13,000 workers go on strike at major US auto makers
Approximately 13,000 auto workers have gone on strike at three factories after failing to reach an agreement with Detroit's automakers. The United Auto Workers union is seeking higher wages and improved benefits from General Motors, Ford, and Stellantis. The union also wants concessions that were made by workers during the companies' financial difficulties to be reinstated.
Stellantis weighs Fiat relaunch in India
The erstwhile Fiat Chrysler Automobile India (as it was called before it became part of Stellantis in 2021) stopped making Fiat cars in India amid low sales and increasing competition from the rival brands. Globally, Fiat which is one among the 14 brands overseen by Stellantis outsold them all in the first half of the current calendar year with 645,000 cars globally, a 10% increase year-on-year.
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India major centre of gravity for Stellantis: Co official
Stellantis considers India a significant "centre of gravity" as it expands internationally, with its digital and software hubs in Hyderabad and Bangalore supporting the organization's technological future. India serves as the transformation and innovation hub for Stellantis as a whole and drives the group's global IP strategy. Moreover, India has grown to become one of the largest in-house ICT and digital organizations within the Stellantis group.
US court allows M&M arm to keep producing, selling post-2020 version of Roxor
Mahindra & Mahindra on Thursday said a US court has allowed its subsidiary to keep producing and selling the post-2020 version of its off-road vehicle Roxor in the American market. The Eastern District Court of Michigan on July 19, 2023, issued its opinion and order on Fiat Chrysler Automobile's (FCA's) renewed motion to enjoin the Post-2020 Roxor and based on its analysis declined to apply the safe distance rule to this case as sought by FCA, Mahindra & Mahindra said in a regulatory filing.
Dodge unveils 2023 Challenger SRT Demon 170 with supercharged V-8 engine. Here's what you should know
Dodge has revealed the 2023 Challenger SRT Demon 170. It comes with a 6.2 liter supercharged V-8 engine. It is estimated to reach a speed of blazing 60 miles per hour in merely 1.66 seconds.
Stellantis shuts down Jeep factory in Belvidere, Illinois due to cost burdens
Stellantis NV is planning to stop production in a Jeep factory in Belvidere, Illinois, citing an increment in production cost as they shift towards electric models.
TPG backed, premium car retailer Landmark Cars to file for an IPO of Rs 800 crore
TPG-backed Landmark Cars is India's biggest seller of premium vehicles of automakers Mercedes Benz, Volkswagen, Honda and Fiat Chrysler. It may be amongst the first automotive dealership companies in India to float an IPO. It is also the first automotive dealership company to receive private equity investment.
Michael Burry of ‘Big Short’ fame reveals $530 million bet against Tesla
Scion Asset Management said in a regulatory filing on Monday that it had bearish put options on 800,100 shares in Tesla as of the end of the first quarter that were worth $534 million.
Roland Bouchara appointed as CEO and MD of Stellantis India, to lead Jeep and Citroën brands
Bouchara was leading the entry of PSA’s Citroën brand in India as the senior vice president of sales and marketing prior to this. He will oversee Jeep and Citroën national sales companies in India as well as the group’s manufacturing operations, as per a company statement.
VW, Ford unveil SUVs at China auto show under virus controls
The latest models reflect accelerating momentum toward electrification and designing models for Chinese tastes. Automakers rely increasingly on research and design centers in China to create models for global sale.
Rubber scarcity creates new headache for beleaguered automakers
The rubber industry is dominated by smallholders, making it difficult for producers to adjust quickly as demand changes, prices fluctuate or supply chain problems emerge.
European car sales suffer worst plunge ever in pandemic
New car registrations sank by 23.7%, or 3 million vehicles, to 9.9 million units, according to new figures released Tuesday by the European Automobile Manufacturers Association. It said lockdowns and other restrictions "had an unprecedented impact on car sales across Europe."
Toyota resumes some production lines in China after temporary suspension
Some production lines were halted Monday at GAC Toyota Motor Co, its joint venture with China's GAC Group, but operations resumed by the next day, a Toyota spokeswoman said, without giving any indication of the car models affected.
FCA may bring back Fiat cars to India
The Fiat brand was an “active” part of FCA India’s portfolio and the company has not closed the door on a Fiat car for India, according to Partha Datta, managing director, FCA India.
Fiat Chrysler, Peugeot shareholders approve merger
Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris.
Fiat Chrysler, PSA Peugeot shareholders to vote on merger
Shareholders vote Monday on a deal to create the world's fourth-largest carmaker, to be called Stellantis, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in synergies.
Tesla delivered record number of cars in 2020
The pioneering high-end electric vehicle maker delivered 180,570 cars to customers and produced 179,757 in the fourth quarter of the year, it said in a statement Saturday.
European Union gives green light to Fiat Chrysler, PSA merger
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 automaker in terms of volume, and number three in terms of sales.
Vaccine carrots or sticks? U.S. businesses grapple with getting employees inoculated
Workplace programs could come following U.S. approval of the first vaccine this week. But the array of choices reflects huge hurdles. A Pew Research poll shows 21% of Americans are firmly opposed, with 60% likely to get a shot. That split, and worries about side effects, have led to a wide variety of potential options.
Fiat, PSA to win EU approval for $38 billion merger: Sources
The green light from the European Commission would formalise the creation of Stellantis, a carmaking group that could tap hefty profits from selling Ram pickup trucks and Jeep SUVs to U.S. drivers to fund the expensive development of zero-emission vehicles for sale in Europe and China.
Apple supplier Foxconn aims to supply to 10% of global electric vehicles
The Taiwanese contract manufacturer, formally called Hon Hai Precision Industry Co Ltd and a major supplier to Apple Inc , is looking at fresh growth from sectors such as electric vehicles, digital health and robots in a drive to diversify its global investments.
Peugeot maker PSA Group says strong rebound underway, PSA shares up more than 3%
Peugeot maker PSA Group's net profit for the first half of 2020 stayed in positive territory, at 595 million euros, down from 1.83 billion euros a year ago.
Peugeot CEO confident Fiat Chrysler merger is on track
The deal to create the world's fourth-largest carmaker has become even more vital because of the impact of the coronavirus crisis and to speed up cost savings, Carlos Tavares told PSA's annual shareholder meeting on Thursday.
Europe car sales tank 55% in March on coronavirus lockdowns
The European carmaker's association, ACEA, said Friday that new car registrations `'recorded a dramatic drop'' of 55% to 567,308 units.
BMW to shut down European factories over virus
German carmaker BMW said Wednesday it would close European and South African factories accounting for half its output for a month, matching other car giants stricken by coronavirus containment measures.
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