financetom
Business
financetom
/
Business
/
Stellantis to invest over $406 mln in Michigan plants in EV, hybrid push
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Stellantis to invest over $406 mln in Michigan plants in EV, hybrid push
Sep 11, 2024 10:14 AM

Sept 11 (Reuters) - Stellantis ( STLA ) said on

Wednesday it would invest more than $406 million in three

facilities in Michigan to develop a platform that can be shared

for both electric and hybrid vehicles.

One of the facilities, the Sterling Heights Assembly Plant,

would become its first in the U.S. to build fully EVs, the

Chrysler-parent said.

The company said it will spend more to retool Warren Truck

Assembly Plant for making an electrified Jeep Wagoneer and raise

investment at Dundee Engine Plant for producing its recently

launched platform for cars, crossovers and SUV models.

It will spend more than 50 billion euros ($55.23 billion)

over the decade in its aim to reach 100% passenger car battery

electric vehicles sales (BEV) mix in Europe and 50% passenger

car and light-duty truck BEV sales in the U.S. by 2030.

($1 = 0.9053 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Treace Medical Concepts Sues Stryker for Patent Infringement
Treace Medical Concepts Sues Stryker for Patent Infringement
Oct 17, 2024
10:41 AM EDT, 10/14/2024 (MT Newswires) -- Treace Medical Concepts ( TMCI ) said Monday it filed a lawsuit against Stryker (SYK) and its Wright Medical Technology subsidiary for allegedly infringing nine patents related to Treace's Lapiplasty 3D bunion correction technologies. The lawsuit, lodged in the US District Court for the District of New Jersey, seeks injunctive relief and damages,...
Market Chatter: HSBC Reviewing China Digital Wealth Business' Expenses, Control
Market Chatter: HSBC Reviewing China Digital Wealth Business' Expenses, Control
Oct 17, 2024
10:31 AM EDT, 10/14/2024 (MT Newswires) -- HSBC Holdings ( HSBC ) started a review of expenses and operational controls at its China digital wealth business Pinnacle a few months ago, Reuters reported Monday, citing several unnamed sources. The bank is looking into staff salary structures and whether suppliers inflated expenses, adding to a sharp increase in costs that exceeded...
Cycle Pharma maintains takeover offer for Vanda Pharmaceuticals
Cycle Pharma maintains takeover offer for Vanda Pharmaceuticals
Oct 17, 2024
Oct 14 (Reuters) - UK-based Cycle Pharmaceuticals on Monday reaffirmed its offer to buy Vanda Pharmaceuticals ( VNDA ) in a deal that values the US drugmaker at $488 million, despite a regulatory setback for its stomach condition drug in September. Vanda in June rejected takeover offers from Cycle Pharma and a revised bid from contract manufacturer Future Pak. WHY...
Affirm Holdings to Benefit From Lower Interest Rate Environment, Wedbush Securities Says
Affirm Holdings to Benefit From Lower Interest Rate Environment, Wedbush Securities Says
Oct 17, 2024
10:32 AM EDT, 10/14/2024 (MT Newswires) -- Affirm Holdings ( AFRM ) is set to benefit from a lower interest rate environment, leading to lower funding costs and incremental growth in gross merchandise volume, or GMV, among others, Wedbush Securities said in a note to clients early Monday. The company has a balanced risk/reward and a number of ancillary GMV...
Copyright 2023-2026 - www.financetom.com All Rights Reserved