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Facing Rising Production Costs, Automakers Ford, GM, Stellantis and Toyota Urge Congress to Lift the Cap on the $7,500 EV Tax Credit

Facing Rising Production Costs, Automakers Ford, GM, Stellantis and Toyota Urge Congress to Lift the Cap on the $7,500 EV Tax Credit

With rising inflation in the U.S. it's not just consumers dealing with higher prices, the world’s biggest automakers are also dealing with rising costs of raw materials like nickel and cobalt used in electric vehicle batteries. As automakers invest billions into electrifying their models lineups they are now asking Congress to lift the 200,000 vehicle cap on the $7,500 federal EV tax credit.

Eric Walz2022-06-13 10:00 PT

FCA to Pay $300 Million Fine for Emissions-Cheating Vehicles

FCA to Pay $300 Million Fine for Emissions-Cheating Vehicles

The investigation found that more than 100,000 Ram and Jeep vehicles with the available 3.0-liter turbodiesel engine were equipped with defeat devices that would help them pass emissions testing.

Vineeth Joel Patel2022-05-29 18:45 PT

Stellantis Launches a $300 Million Euro Venture Capital Fund That Will Invest in Innovative Automotive Technology Startups

Stellantis Launches a $300 Million Euro Venture Capital Fund That Will Invest in Innovative Automotive Technology Startups

Automaker Stellantis has launched a venture capital fund called Stellantis Ventures that will help support innovative startups working on advanced mobility solutions for the auto industry, such as autonomous driving, software, advanced materials, vehicle connectivity and related technology. Stellantis Ventures will initially invest €300 million (US$331 million) in early and late-stage startup companies.

FutureCar Staff 2022-03-16 15:00 PT

Jeep’s First Electric SUV Coming in 2023, But it Won’t Be a Wrangler

Jeep’s First Electric SUV Coming in 2023, But it Won’t Be a Wrangler

Stellantis also teased the upcoming all-electric Ram 1500, highlighting the lights on the upcoming pickup.

Vineeth Joel Patel2022-03-05 06:40 PT

Stellantis CEO Claims EVs Cost Up to 50 Percent More to Build

Stellantis CEO Claims EVs Cost Up to 50 Percent More to Build

As Stellantis looks to rapidly expand on the number of electric vehicles it sells globally, its CEO believes that it’s going to take some work to keep costs down for consumers.

Vineeth Joel Patel2022-02-27 15:00 PT

Tesla Chief Executive Elon Musk Says New Chip Factories Will End the Global Shortage in the Industry by Next Year

Tesla Chief Executive Elon Musk Says New Chip Factories Will End the Global Shortage in the Industry by Next Year

​Speaking at Italian Tech Week on Friday, Tesla Chief Executive Elon Musk announced that new semiconductor factories currently under construction will supply enough chips to end the global shortage that has plagued the auto industry for the past 18 months.

FutureCar Staff 2021-09-25 08:15 PT

Mercedes-Benz Parent Daimler Takes a 33% Stake in Automotive Cells Company (ACC), to Source Batteries for its European Market EVs

Mercedes-Benz Parent Daimler Takes a 33% Stake in Automotive Cells Company (ACC), to Source Batteries for its European Market EVs

Mercedes-Benz parent Daimler has taken a 33% equity stake in European battery manufacturer Automotive Cells Company (ACC) together with automaker Stellantis and French petroleum giant TotalEnergies. As Mercedes Benz transitions to becoming an electric-only automaker by the end of the decade, ACC will help the company to scale up development and production of next-generation battery cells and modules.

FutureCar Staff 2021-09-24 10:15 PT

U.S. President Joe Biden Aims for 50% of New Vehicles Sales in the U.S. be Electrified by 2030

U.S. President Joe Biden Aims for 50% of New Vehicles Sales in the U.S. be Electrified by 2030

The U.S. auto industry has gotten its biggest endorsement yet for building more fully-electric vehicles. President Joe Biden is set to sign an executive order on Thursday aimed at making half of all vehicles sold in the U.S. be low-emissions and electrified by 2030. In addition, Biden will propose new emission rules through 2026 for automakers.

Eric Walz2021-08-05 10:00 PT

Tesla to Lose Around $240 Million in Revenue in 2021 as Automaker Stellantis Says it Will No Longer Need to Buy Emission Credits

Tesla to Lose Around $240 Million in Revenue in 2021 as Automaker Stellantis Says it Will No Longer Need to Buy Emission Credits

Stellantis announced on Wednesday that it will no longer need to purchase emissions credits from Tesla as the European automaker expects to reach its emission targets this year. The emission credits purchased by Stellantis would have given Tesla an additional $240 in revenue this year.

FutureCar Staff 2021-05-05 12:30 PT

Newly Formed Auto Group 'Stellantis' Debuts on European Stock Markets, Shares Rise Nearly 8%

Newly Formed Auto Group 'Stellantis' Debuts on European Stock Markets, Shares Rise Nearly 8%

Shares of newly created auto conglomerate Stellantis NV began trading on the European stock markets in Paris and Milan on Monday and the new company is off to a strong start. Milan-listed shares of Stellantis started trading at 12.758 euros ($15.40) and rose nearly 8% to 13.55 euros ($16.36), giving the automaker a market cap of 39.2 billion euros ($47.3 billion).

Eric Walz2021-01-18 12:15 PT