By Reuters Staff
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FILE PHOTO: The logo of Stellantis is seen at the main entrance of the FCA Mirafiori plant in Turin, Italy, January 18, 2021. REUTERS/Massimo Pinca/File Photo
MILAN (Reuters) - Stellantis is looking at nearly tripling its global sales of electric vehicles this year, the head of holding company Exor, the carmaker’s main shareholder, said on Thursday.
The world’s fourth largest carmaker targets global sales of 400,000 high voltage vehicles this year from 139,000 in 2020 thanks to the launch of 11 additional models, John Elkann, who also serves as Stellantis chairman, said in a letter to Exor shareholders.
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(Reuters) - Automakers on Thursday reported a rebound in first-quarter U.S. sales from a coronavirus-induced slump last year, but volumes were capped by a global chip scarcity that forced many companies to cut production.
FILE PHOTO: Chevrolet Equinox SUVs are parked awaiting shipment next to the General Motors Co (GM) CAMI assembly plant in Ingersoll, Ontario, Canada October 13, 2017. REUTERS/Chris Helgren/File Photo
The need for increased personal safety during the COVID-19 pandemic has boosted sales for automakers, as people prefer traveling by their own cars to using public transportation.
The semiconductor chip shortage and severe winter weather in south west United States in February have caused automakers to shut factories, turning analysts cautious about the speed of the sector’s recovery in 2021.
A Volkswagen joint venture in China has agreed to buy green car credits from Tesla to help meet local environmental rules, three people briefed on the matter told Reuters.
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SEOUL/BEIJING/FRANKFURT (Reuters) - Days before Volkswagen AG held an event to announce a major ramp-up in its electric vehicle production, the German car maker abruptly told its South Korean battery suppliers their current technology would be largely excluded from those plans.
FILE PHOTO: FILE PHOTO: A Volkswagen logo is seen at a construction completion event of SAIC Volkswagen MEB electric vehicle plant in Shanghai, China November 8, 2019. REUTERS/Aly Song/File Photo/File Photo
The decision by the world’s second largest automaker to move the bulk of its cars to a different battery cell in two years came as a shock to LG Energy Solution and SK Innovation, three people with knowledge of the situation told Reuters.
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(Reuters) - BMW expects at least half of its sales to be zero emission vehicles by 2030, setting a more conservative target than some rivals in the race to embrace cleaner driving.
In the short term, the German carmaker forecast on Wednesday a big rise in pretax profit for this year, with a strong performance in all areas - from MINIS through its upmarket BMW brand to top-of-the-range Rolls-Royces.
Its shares rose as much as 4.9% to a 2-1/2 year high of 84.42 euros, buoyed by its forecast for a strong recovery from a pandemic-hit 2020.
Bernstein analyst Arndt Ellinghorst said BMW had entered 2021 “very confidently.”