Volvo has announced plans to build a battery assembly plant in the U.S. The plant will help support the brand's bold electrification plans, including assembling a battery for an electric version of the XC90 crossover. The plant is part of a planned $600 million investment Volvo is making into its Ridgeville, South Carolina assembly plant, according to Automotive News. The… Read More...
The mechanics of the pending merger between Fiat Chrysler Automobiles and PSA Group have been disclosed, but the nuts and bolts of its impact on the respective companies product development have not been discussed - until now. Reportedly, FCA is going to lean very heavily on switching its vehicles to PSA architectures. According to Automotive News the combined automaker plans to quickly… Read More...
Fiat Chrysler Automobiles and PSA Group have reportedly signed off on a merger deal worth about $50 billion. The deal will create a combined automaker that sells around 8.7 million vehicles per year. Reuters reports the two automakers could make the formal merger announcement as early as later this week. The announcements will undoubtedly provide additional details of the combination, but… Read More...
General Motors and battery supplier LG Chem are taking their long-standing relationship a step further with the formation of a new joint venture company. This new JV will aid the automaker in building electric vehicles, starting with a new battery cell production site. The partnership's first manufacturing facility will be at a greenfield site near Lordstown, Ohio, a community that… Read More...
Fiat Chrysler Automobiles and the United Auto Workers union have reached a tentative collective bargaining deal. Both sides have confirmed the deal, which is coming amid significant turmoil for both parties. The deal reportedly includes a $4.5 billion investment commitment from FCA, which translates into 7,900 UAW jobs over the course of the four-year deal. The $4.5 billion pledge is… Read More...
Ford Motor Company and the United Auto Workers have reached a tentative agreement, sparing the automaker of a labor strike like cross-town rival General Motors endured for 40 days. As part of the agreement, Ford is planning to close one of its engine plants. The tentative agreement between the two parties indicates Ford will close its Romeo Engine Assembly Plant… Read More...
Fiat Chrysler Automobiles and PSA Group have announced plans for a merger of equals between the two automakers. The proposed deal will create the world's fourth largest automaker; bringing iconic brands such as Jeep and Peugeot together, under one roof. The automakers are valuing the deal at $48 billion and calling it a 50/50 merger. The merged entity will sell about… Read More...
It wasn't long ago Fiat Chrysler was in talks with Renault regarding a potential merger, but that isn't stopping FCA from courting someone else. Both FCA and French automaker PSA Groupe have confirmed the two automakers are currently engaged in merger talks. The confirmation came from both parties after recent reports suggested the two were interested in potentially merging. Talks… Read More...
The United Auto Workers and General Motors have confirmed the UAW's membership has ratified a new four-year contract between the two parties. The new agreement puts an end to a six-week labor strike that started back on Sept. 16th. “General Motors members have spoken,” said Terry Dittes, UAW vice president and director of the UAW-GM Department. “We are all so… Read More...
General Motors and the United Auto Workers union have reached a tentative deal after a 31-day labor strike. Details of the deal have yet to be released, but union officials are claiming some "big wins" for the members. Both GM and the union have issued official statements confirming the deal, but neither have offered any details. Some sources are suggesting… Read More...
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