LONDON (Reuters) -Under pressure from Chinese competitors, Stellantis and Renault are pushing hard to cut electric vehicle costs so they can have similar price tags and profit margins as fossil-fuel models, industry executives said on Thursday. Europe's automakers are trying to develop more affordable EVs, which are more expensive than combustion-engine equivalents, as electric car sales growth has slowed. Along with concerns over a lack of available charging infrastructure, the high cost of EVs has become a significant barrier to broader mass adoption for zero-emission cars.
By Giulio Piovaccari MILAN (Reuters) -Stellantis warned on Thursday of a turbulent year ahead after its operating profit fell 10% in the second half of 2023 when strikes caused long stoppages at its operations in North America, its profit powerhouse. Union strikes in North America, which ended with record salary increases for workers at the…
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By Gilles Guillaume and Giulio Piovaccari PARIS/MILAN (Reuters) -Shares in Stellantis shot to record peaks and Renault hit seven-month highs on Thursday .
(Reuters) -French automaker Renault on Wednesday reported a slightly lower than expected full-year 2023 net profit, but posted margin and revenue gains and offered more cash to investors with a huge increase in its dividend. Renault said it would propose a dividend of 1.85 euros ($1.98) for 2023, up from a payout of 0.25 euro for 2022, joining U.S. automakers Ford and General Motors in giving more cash to investors. The stronger cash position and margin growth are the latest sign that the carmaker's turnaround under Chief Executive Luca de Meo is bearing fruit.