Contemporary Amperex Technology and Stellantis have jointly established a joint venture in Spain, with a total investment expected to be 4.038 billion euros.
Contemporary Amperex Technology (300750.SZ) announced further deepening the cooperation between the company and Stellantis N....
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U.S. stocks movement | Stellantis rises over 1.5% and plans to establish a joint venture with Contemporary Amperex Technology to build a Battery factory in Spain.
On December 10, Gelonghui reported that Stellantis (STLA.US) rose over 1.5%, trading at $13.95. In terms of news, Contemporary Amperex Technology and its subsidiaries signed a joint venture agreement with subsidiaries of Stellantis and other parties on December 10, 2024. Contemporary Amperex Technology and Stellantis plan to jointly establish a joint venture company in Spain, holding 50% of the shares each, and the joint venture company will construct a joint Battery factory in Zaragoza, Aragon, Spain. The total investment in this Battery factory is expected to be €4.038 billion.
According to reports, former Stellantis (STLA.US) CEO was criticized for being too focused on short-term costs and profits.
According to CNBC, Carlos Tavares, the former CEO of Stellantis (STLA.US), the fourth largest Auto Manufacturers in the world, focused too much on short-term costs and profits, which harmed the Business, product quality, employee relations, and relationships with suppliers, unions, and Dealers. The report also indicated that issues included a lack of support for new products and sales, pressure on supplier costs, and poor management of North American factories and products. Tavares announced his resignation in early December. Stellantis stated that it currently expects to appoint a successor in the first half of next year.
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Mercedes and Stellantis' joint battery venture ACC reaffirms: plans for factories in Germany and Italy will be announced in the first half of next year.
On December 10, Glonghui reported that the battery company ACC, a joint venture of Stellantis, Mercedes-Benz, and TotalEnergies, announced that it would reaffirm its plans to establish factories in Italy and Germany in the first half of next year. In June of this year, ACC stated that the construction of its factories in Kaiserslautern, Germany, and Termoli, Italy, would be put on hold due to a slowdown in electric vehicle sales and concerns about costs. The estimated total investment for these two gigafactories is approximately 5 billion euros.
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Stellantis to Form EUR4.1 Billion Battery JV in Spain With China's CATL
Stellantis and CATL to Invest Up to €4.1 Billion in Joint Venture for Large-Scale LFP Battery Plant in Spain
A former executive of Stellantis will return to the company to take charge of the Ram truck brand.
On December 10, according to Reuters, former Stellantis executive Timothy Kuniskis will return to the company a few months after announcing his retirement, as the auto manufacturer seeks to strengthen its leadership team following the unexpected resignation of CEO Carlos Tavares. Timothy Kuniskis will resume leadership of the Ram truck brand under Stellantis. Ram is one of the company's most important brands, and by the third quarter of 2024, sales of Ram in the usa had decreased by 24%. Currently,
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Correction to Article About Stellantis's Executive Shake-Up
'Jeep Maker Stellantis Shakes Up North American Executive Ranks; Moves Come After Recent Departure Of The CEO; Changes Include The Return Of Company Veteran Timothy Kuniskis, Who Retired Under Tavares' Tenure In June, To Run Stellantis's Ram Truck...
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