Streetbeat News

STLA

Stellantis N.V.

https://www.stellantis.com

Industry

Auto - Manufacturers

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, and production systems worldwide. It provides luxury, premium, and mainstream passenger vehicles; pickup trucks, sport utility vehicles, and commercial vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services. The company offers its products under the Abarth, Alfa Romeo, Chrysler, Citroën, DS, Dodge, Fiat, Fiat Professional, Jeep, Maserati, Ram, Opel, Lancia, Vauxhall, Peugeot, Teksid, and Comau brand names. It sells its products directly, as well as through distributors and dealers. Stellantis N.V. was founded in 1899 and is headquartered in Hoofddorp, the Netherlands.

Open

13.39

Mkt cap

38B

Volume

5.9M

High

13.47

P/E Ratio

2.90

52-wk high

29.51

Low

13.32

Div yield

0.12

52-wk low

12.74

The Environmental Protection Agency (EPA) has submitted its final vehicle emissions regulation for 2032 to the White House for review, according to a document cited by Reuters. This regulation could have significant implications for automakers as they adjust to meet the new standards.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:20 pm

Deputy Press Secretary Dalton has announced that the White House is investigating reports of electric vehicles (EVs) not charging properly in cold weather conditions. This issue could potentially affect consumer confidence and the adoption rate of EVs, which are central to the administration's policy on reducing carbon emissions.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:04 pm

Goodyear Tire & Rubber Co (GT) has appointed Mark Stewart as the new CEO and President, effective January 29, 2024. Stewart, previously COO of North America at Stellantis N.V. (STLA), will succeed Richard J. Kramer. The change in leadership follows a shareholder activism campaign by Elliott Investment Management, which led to a cooperation agreement and the creation of a Strategic and Operational Review Committee at Goodyear. GT shares rose 2.13% to $14.18 following the announcement.

Portfolio Pulse from Lekha Gupta

January 18, 2024 | 4:05 pm

The U.S. Transportation Department is allocating $148.8 million to refurbish or replace approximately 4,500 existing electric vehicle (EV) charging stations across 20 states. This federal funding is part of an effort to improve the nation's EV infrastructure and support the growing adoption of electric vehicles.

Portfolio Pulse from Charles Gross

January 18, 2024 | 10:10 am

Stellantis has temporarily laid off 2,250 employees in Italy and terminated 539 temporary employees in the U.S., leading to a decline in its share price.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 8:42 pm

Stellantis NV (NYSE:STLA) has entered into a multi-billion euro agreement with SIXT, a mobility service provider, to supply up to 250,000 vehicles for SIXT's rental fleet over the next three years. The vehicles will be deployed across Europe and North America and will include a range of Stellantis' brands and vehicle classes, with various propulsion types, including battery electric vehicles (BEV). The partnership also explores cooperation in data services. The first major delivery is expected in Q1 2024. Meanwhile, STLA shares dropped by 3.18% to $21.59.

Portfolio Pulse from Shivani Kumaresan

January 16, 2024 | 7:15 pm

SIXT and Stellantis have announced a multi-billion euro agreement for SIXT to purchase up to 250,000 Stellantis vehicles by 2026 for its rental fleet in Europe and North America. The deal includes a variety of vehicle classes and propulsion types, including battery electric vehicles (BEVs), and aligns with both companies' decarbonization strategies. Deliveries will start in Q1 2024. The partnership also explores cooperation in data services and aims to enhance customer experience with connected vehicles and streamlined rental processes. Stellantis aims for a 100% BEV sales mix in Europe and 50% in the US by 2030, while SIXT targets a 70-90% electrified fleet in Europe by 2030.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:12 pm

SIXT and Stellantis have entered into a multi-billion euro agreement for SIXT to purchase up to 250,000 vehicles over the next three years for its rental fleet in Europe and North America. Significant deliveries will start in the first quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:04 pm

Stellantis NV (NYSE:STLA) is set to lay off approximately 2,250 employees at its Mirafiori facility in Italy due to weak demand, affecting workers involved in the production of the electric Fiat 500 and Maserati models. Additionally, the company will terminate 539 supplemental employees across its U.S. manufacturing units. These layoffs come despite a recent deal with the United Auto Workers, which included wage hikes for temporary workers.

Portfolio Pulse from Anan Ashraf

January 16, 2024 | 12:33 pm

U.S. automakers are expected to increase investment in automation following wage increases agreed with the United Auto Workers (UAW) union. Ford (NYSE:F), General Motors (NYSE:GM), and Stellantis (NYSE:STLA) face higher labor costs after a 25% wage hike. Ford anticipates $1.7 billion in lost profits for 2023 and $8.8 billion over four years due to the labor deal. The shift towards automation could negatively impact UAW workers in the long term. Companies like Rockwell Automation (NYSE:ROK) and Magna International (NYSE:MGA) could benefit as automakers deepen their automation investments.

Portfolio Pulse from Neil Dennis

January 15, 2024 | 7:48 pm

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