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Tag Archives: Stellantis
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UAW president Shawn Fain says 21% pay hike offered by Chrysler parent Stellantis is a “no-go” – Face the Nation
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Step Aside Ford, GM: New Ram EV Pickup Boasts 500-Mile Range – Stellantis (NYSE:STLA), Tesla (NASDAQ:TSLA), Ford Motor (NYSE:F), General Motors (NYSE:GM), Rivian Automotive (NASDAQ:RIVN) – Benzinga
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Tesla, GM Among Car Makers Facing Senate Inquiry Into Possible Links to Uyghur Forced Labor
WASHINGTON—The Senate Finance Committee has opened an inquiry into whether auto makers including
Tesla Inc.
and
General Motors Co.
are using parts and materials made with forced labor in China’s Xinjiang region.
In a letter sent Thursday, the committee asked the chief executives of eight car manufacturers to provide detailed information on their supply chains to help determine any links to Xinjiang, where the U.S. government has alleged the use of forced labor involving the Uyghur ethnic minority and others.
The U.S. bans most imports from the region under the Uyghur Forced Labor Prevention Act. The letter to car companies cited a recent report from the U.K.’s Sheffield Hallam University that found evidence that global auto makers were using metals, batteries, wiring and wheels made in Xinjiang, or sourcing from companies that used Uyghur workers elsewhere in China.
According to that report, some car manufacturers “are unwittingly sourcing metals from the Uyghur region.” It said some of the greatest exposure comes from steel and aluminum parts as metals producers shift work to Xinjiang to take advantage of Chinese government subsidies and other incentives.
The U.S. ban on products linked to Xinjiang has already caused disruptions in the import of solar panels made there.
China has called Washington’s claim baseless. It disputes claims by human-rights groups that it mistreats Uyghurs by confining them in internment camps, with Beijing saying its efforts are aimed at fighting terrorism and providing vocational education.
Besides
Tesla
and GM, the letter signed by Finance Committee Chairman
Ron Wyden
(D., Ore.), was sent to
Ford Motor Co.
,
Mercedes-Benz Group AG
,
Honda Motor Co.
,
Toyota Motor Corp.
,
Volkswagen AG
and
Stellantis
NV, whose brands include Chrysler and Jeep.
GM said its policy prohibits any form of forced or involuntary labor, abusive treatment of employees or corrupt business practices in its supply chain.
“We actively monitor our global supply chain and conduct extensive due diligence, particularly where we identify or are made aware of potential violations of the law, our agreements, or our policies,“ the company said.
A Volkswagen spokesman said the company investigates any alleged violation of its policy, saying “serious violations such as forced labor could result in termination of the contract with the supplier.” A Stellantis spokesperson said the company is reviewing the letter and the claims made in the Sheffield Hallam study.
Other companies didn’t immediately provide comments.
“I recognize automobiles contain numerous parts sourced across the world and are subject to complex supply chains. However, this recognition cannot cause the United States to compromise its fundamental commitment to upholding human rights and U.S. law,” Mr. Wyden wrote.
The information requested includes supply-chain mapping and analysis of raw materials, mining, processing and parts manufacturing to determine links to Xinjiang, including manufacturing conducted in third countries such as Mexico and Canada.
General Motors says its policy prohibits forced or involuntary labor, abusive treatment of employees or corrupt business practices in its supply chain.
Photo:
mandel ngan/Agence France-Presse/Getty Images
The lawmakers are also asking the auto makers if they had ever terminated, or threatened to terminate, relations with suppliers over possible links to Xinjiang, and if so, provide details of the cases.
The committee’s action comes as the Biden administration and bipartisan lawmakers increase their focus on alleged forced-labor practices in China as a key component of their confrontation with Beijing over its economic policy. The United Auto Workers has called on the auto industry to “shift its entire supply chain out of the region.”
The State Department has said more than one million Uyghurs and other minorities are held in as many as 1,200 state-run internment camps in Xinjiang. Chinese authorities “use threats of physical violence” and other methods to force detainees to work in adjacent or off-site factories, according to the department.
The U.S. Customs and Border Protection investigated 2,398 entries with a total value of $466 million during the fiscal year ended September, up from 1,469 entries in the previous year and 314 cases in fiscal 2000.
Analysts expect the CBP’s enforcement activity to further increase this year, with a strong bipartisan push for a tougher stance on the forced-labor issue.
The researchers at Sheffield Hallam University found that more than 96 mining, processing, or manufacturing companies relevant to the auto sector are operating in Xinjiang. The researchers used publicly available sources, including corporate annual reports, websites, government directives, state media and customs records.
Write to Yuka Hayashi at Yuka.Hayashi@wsj.com
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Stellantis to close Illinois plant, lay off more than 1,000 workers, citing rising costs for EVs
New York
CNN
—
Stellantis is shuttering its Illinois plant in February resulting in indefinite layoffs for 1,350 employees, the company said in a statement, citing increasing costs in the electric vehicle market.
“Our industry has been adversely affected by a multitude of factors like the ongoing Covid-19 pandemic and the global microchip shortage, but the most impactful challenge is the increasing cost related to the electrification of the automotive market,” Stellantis said in a statement. The company said it is taking steps “stabilize production” and “improve efficiency” in its North American facilities.
The European carmaker said it will “idle” the assembly plant in Belvidere, Illinois on February 23 and said the layoffs are expected to exceed six months. Stellantis, the parent company of Chrysler, Dodge and Jeep, said it will “make every effort” to place the laid off employees in open positions and is looking for other opportunities to repurpose the Belvidere factory.
The United Auto Workers International Union said on Facebook it was “deeply angered” by the decision. The group’s president Ray Curry said it is “unacceptable” Stellantis isn’t allocating new products to the plant.
The Illinois plant builds the Jeep Cherokee and will continue to manufacture the vehicle until the factory closes, but the company had no comment about the future of that make and model.
“This is an important vehicle in the lineup, and we remain committed long term to this mid-size SUV segment,” Jodi Tinson, a Stellantis spokesperson, said in a statement.
In October, the company said its joint venture producing Jeep vehicles in China is filing for bankruptcy.
Last July, Stellantis made a $35.5 billion commitment to electric vehicles by the end of 2025 to expand its portfolio. The company planned for 70% of its European sales and 40% of its US sales to either be fully electric or plug-in hybrid vehicles within four years, CEO Carlos Tavares said.
– Peter Valdes-Dapena contributed to this report.
Automaker Stellantis lays off hundreds of American workers, blaming high cost of making electric cars
Economic expert David Bahnsen joins ‘Maria Bartiromo’s Wall Street’ to discuss the November jobs report and offers his outlook for 2023.
Multinational automaker Stellantis is indefinitely closing an assembly plant in Illinois in February and laying off hundreds of workers, in large part due to the high cost of making electric vehicles.
Stellantis noted in a statement emailed to FOX Business on Friday that the industry had been adversely affected by factors including the ongoing COVID-19 pandemic, the global microchip shortage and the increasing cost related to the electrification of the automotive market, which it said was the most impactful.
The automaker said that a number of actions had been taken to stabilize production and improve efficiency at its North American facilities to “preserve affordability and customer satisfaction in terms of quality.”
However, while considering other avenues to optimize operations, Stellantis said the decision had been made to idle the Belvedere plant starting on Feb. 28, 2023.
BLUE APRON LAYING OFF 10% OF CORPORATE WORKFORCE
Engines are lifted at the Stellantis Dundee Engine Complex on Aug. 18, 2022, in Dundee, Michigan. (Bill Pugliano/Getty Images / Getty Images)
A Stellantis sign outside company headquarters in Auburn Hills, Michigan, June 10, 2021. (REUTERS/Rebecca Cook / Reuters Photos)
“This difficult but necessary action will result in indefinite layoffs, which are expected to exceed six months and may constitute a job loss under the Worker Adjustment and Retraining Notification (WARN) Act. As a result, WARN notices have been issued to both hourly and salaried employees,” it said. “The company will make every effort to place indefinitely laid off employees in open full-time positions as they become available.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| STLA | STELLANTIS NV | 14.45 | -0.40 | -2.69% |
Stellantis also noted that it is working to identify other opportunities to repurpose the facility.
There are about 1,350 workers at the Belvedere plant, which produces the Jeep Cherokee.
Jeep Cherokees line a parking lot outside the FCA Belvidere Assembly Plant in Belvidere, Illinois, where the vehicle is produced, in 2018. Stellantis will shutter the plant indefinitely at the end of February. (Chris Sweda/Chicago Tribune/Tribune News Service via Getty Images / Getty Images)
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Stellantis reportedly told The Associated Press that that automaker would not comment on the future of the “Cherokee nameplate.”
“This is an important vehicle in the lineup, and we remain committed long term to this mid-size SUV segment,” Stellantis spokesperson Jodi Tinson told the agency.
FILE PHOTO: The Chrysler Belvidere Assembly plant in Belvidere, Illinois. (REUTERS/Frank Polich/File Photo / Reuters Photos)
Stellantis has said it will invest more than $31 billion through 2025 on electrifying its vehicle lineup, with electric vehicles to make up half of its U.S. sales by 2030.
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A spokesperson for Gov. J.B. Pritzker’s administration, Jordan Abudeyyeh, said a response team from the state’s Department of Commerce and Economic Opportunity had been assembled to help displaced workers find new employment.
She said the administration will work with local elected officials, community colleges and others to ensure that appropriate retraining programs are available, and with Stellantis to find new uses for the Belvidere plant.
Reuters and The Associated Press contributed to this report.
Why Stellantis Built a New Twin-Turbo I6 Engine on the Eve of Electrification
In case you haven’t heard, Stellantis just announced a fun new engine in one of the greatest configurations: a twin-turbo inline-six. Dubbed the Hurricane, it’s available in standard- and high-output versions with each one making at least 400 and 500 horsepower, respectively. That’s all well and good, especially if you’re a car enthusiast, but it’s far from an electric motor—heck, this thing isn’t even a hybrid.
This all-new engine comes at a time when most automakers are pushing toward electrification rather than investing precious R&D budgets on internal combustion platforms. Stellantis, though, feels that gasoline will still have its place for years to come. It’s all about balance, then—a balance of power and lower emissions.
Now, it’s not like Stellantis looked at Jaguar Land Rover’s work on the old AJ126 engine and slapped an Uno reverse card on the table—this isn’t its inline-four with two extra cylinders adjoined.
“The Hurricane I-6 has the same bore and stroke and cylinder spacing as the Stellantis global 2.0-liter turbocharged four-cylinder engine. But we didn’t just add two more cylinders to the 2.0-liter,” said Stellantis spokesperson Dale Jewett to The Drive. “The Hurricane I6 is designed and optimized from the ground up for its targets of reduced emissions and improved power.”
The note specifically about optimizing the Hurricane for emissions reduction is key. That’s how Stellantis can justify the development of an all-new engine amidst an industry-wide shift to battery power. Even still, Stellantis CEO Carlos Tavares has said that the parent brand is aiming for at least 50 percent of its U.S. sales to be full battery electric vehicles by 2030.
“[T]here’s still 50 percent of something else that needs to be out there. We still need highly efficient and customer-pleasing engines for our brands throughout the decade,” Jewett continued.
More specifically, Jewett noted that the manufacturer has a responsibility to its customers to offer engines with desirable performance, all while fulfilling its obligation to ensure those engines are as efficient as possible—hence the move away from the existing lineup of V8s. This is also important when considering the unknown future of what Corporate Average Fuel Economy (CAFE) regulations will require as more brands push toward electrification. Even a 15 percent reduction in emissions could be the difference in a brand meeting or beating strict footprint requirements in 2026 and beyond.
Stellantis says that its twin-turbo I6 is a “no-compromise” engine with performance that rivals its V8s, all while being around 15 percent more efficient. That efficiency is delivered in both tailpipe emissions and fuel usage, and it’s made possible by high-pressure fuel delivery, low-inertia turbochargers, water-to-air charge cooling, and fancy new cylinder bore coating for reduced mechanical friction.
And, of course, the OEM also designed its power plant to be integrated with electrification, should the time come.
The first vehicle that will receive the Hurricane I6 remains unnamed, though what looks like an accidental leak on Jeep’s website (which has since been corrected) revealed that it could potentially be the Jeep Grand Wagoneer. Stellantis says that the new Hurricane engine will be found in STLA Large and STLA Frame platforms, and that the engine will be in a product on dealer lots sometime this year.
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Stellantis recalling nearly 20,000 plug-in minivans for fire risks
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Chrysler parent Stellantis is recalling 19,808 plug-in hybrid minivans and urged owners to stop recharging them, after reports of 12 fires in parked vehicles.
The automaker said the recall covers 2017-2018 Chrysler Pacifica Hybrid vehicles. All were parked and turned off, while eight were connected to chargers. Stellantis said it was unaware of any related injuries or accidents.
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Stellantis is advising owners to refrain from recharging the vehicles and to park them away from structures and other vehicles. The automaker said it is working to confirm the cause of the fires.
Chrysler 2017 Pacifica hybrid minivan is unveiled during the press preview of the 2016 North American International Auto Show in Detroit, Michigan. (Photo credit should read JEWEL SAMAD/AFP via Getty Images)
Owners can keep operating the vehicles using the internal combustion engine.
STELLANTIS AND FOXCONN PARTNERING ON AUTOMOTIVE SEMICONDUCTOR BUSINESS
The National Highway Traffic Safety Administration declined to comment.
The recall comprises 16,741 vehicles in the United States, 2,317 in Canada and another 750 outside North America.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| STLA | STELLANTIS NV | 18.69 | -0.41 | -2.15% |
Other automakers have faced fire issues with plug-in hybrid or full electric vehicles.
General Motors Co halted production of its Chevrolet Bolt electric vehicle in August and has extended that halt through the end of this month.
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The largest U.S. automaker in August widened its recall of the Bolt to more than 140,000 vehicles to replace battery modules after a series of fires. GM has also indefinitely halted retail sales of new Bolt vehicles.
(Reporting by David Shepardson; Editing by Leslie Adler and David Gregorio)
After flying start, Stellantis must tackle Tesla and China
A view shows the logo of Stellantis at the entrance of the company’s factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol
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MILAN, Jan 18 (Reuters) – If playing catch up with Tesla is what everyone in the auto industry is about then Stellantis, the company formed from the merger of Fiat Chrysler and Peugeot, has had a good start – its shares have far outpaced its U.S. rival in its inaugural year.
But this is just the first lap.
Fixing its business in China and overcapacity in Europe are just two areas where analysts want to see Stellantis (STLA.MI) making progress when Chief Executive Carlos Tavares unveils his detailed business plan on March 1.
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After all, despite its shares surging more than 60% since their debut on Jan. 18, 2021 – compared with a 27% gain for Tesla’s (TSLA.O) – Stellantis’ market value of 59 billion euros ($67 billion) is still just 6% of its U.S. rival’s.
A strong first year augurs well, though, with Jefferies analysts saying Tavares has shown vision and ambition with a “sustained stream of strategic initiatives.”
Since forging the world’s No. 4 carmaker by production, Tavares has mapped out a 30 billion euro electrification strategy, and formed alliances with Amazon and iPhone assembler Foxconn to accelerate development of software and semiconductors for future connected vehicles. read more
He has also drawn up plans for five battery plants and cut deals with unions to keep streamlining its European operations – side-stepping potential labour conflicts and pushing the company’s operating profit margin up to around 10%.
Excluding former Peugeot-controlled parts maker Faurecia (EPED.PA), Stellantis’ workforce was almost unchanged in the past year at around 300,000 – keeping Tavares’ promise not to cut jobs or close plants following the merger.
All this despite facing a semiconductor and supply chain crunch that cost global automakers millions of vehicles in lost production last year and is not expected to ease quickly.
Marco Santino, a partner at management consultants Oliver Wyman, said Tavares was living up to his reputation as a practical man avoiding a “muscular” approach with unions and the outlines of his strategy were in place.
“The path has been mapped out already, it needs to be consolidated,” he said. “I don’t expect fireworks from his business plan”.
CHALLENGES
But many say more bold action is needed.
Jefferies analysts, for example, say Stellantis’ 14 brands – including Jeep, Ram, Citroen, Opel and Maserati – walk “a fine line between differentiation and internal competition.”
This at a time when Tesla is leading the industry transition to an electric and software-driven future with a single brand and a highly focused strategy.
Tavares has said every aspect of the group is under the microscope, including its brands, some of which analysts have suggested could be eliminated to save money.
“For the time being, we love them all and you cannot kill what you love,” the 63-year old said last year.
“When you love them, you give them a chance,” he said, adding each brand would be given 10 years to prove itself profitable.
As the group enters its second year, another long term challenge is reviving its fortunes in China, the world’s biggest auto market, where Fiat Chrysler and Peugeot-owner PSA had almost negligible market shares.
“We are now negotiating and changing very many things at core,” Tavares has said about his China plans, without giving details.
Jefferies analysts said the company could look to leverage its strong Jeep and Maserati brands there. It could also consider using China as an export base to the rest of Asia, or deepen its ties with Foxconn beyond their current joint venture, they said.
“Luckily for Tavares, he’s got time,” Oliver Wyman’s Santino said. “Investors’ focus is on Europe’s turnaround at the moment. And on that he is delivering”.
($1 = 0.8775 euros)
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Additional reporting by Danilo Masoni in Milan, Brenda Goh in Shanghai and Gilles Guillaume in Paris
Editing by Mark Potter and Carmel Crimmins
Our Standards: The Thomson Reuters Trust Principles.