Stellantis’ UAW-represented workers are set to receive profit-sharing checks this year that could hit $14,760, the largest payout per worker among the Detroit Three automakers. That amount, announced Wednesday, represents an increase from 2022, when the company said checks would total $14,670. At that time, the company said it was the largest profit-sharing amount the… Continue reading Stellantis workers to get profit-sharing of $14,760
Category: US Motoring Press
Lucid’s revenue falls short of estimates as it guides to higher EV production in 2023
Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona. Lucid Electric vehicle maker Lucid on Wednesday reported fourth-quarter revenue that fell short of expectations after building just 7,000 of its Air luxury sedans last year amid manufacturing challenges.… Continue reading Lucid’s revenue falls short of estimates as it guides to higher EV production in 2023
Lidar maker Luminar announces ‘multibillion dollar’ expansion of its deal with Mercedes-Benz
Austin Russell, Luminar founder and CEO, with Markus Schäfer, Mercedes-Benz AG chief technology officer at Mercedes-Benz’ Sindelfingen, Germany plant. Mercedes-Benz Lidar maker Luminar said Wednesday that Mercedes-Benz will incorporate its sensors and software in a “broad range” of vehicles starting mid-decade, in a significant expansion of an ongoing partnership between the two companies. Under the… Continue reading Lidar maker Luminar announces ‘multibillion dollar’ expansion of its deal with Mercedes-Benz
Nikola will offer a driver-assist system for its trucks starting next year
Nikola Motor Company Two truck Source: Nikola Motor Company Nikola will begin offering an advanced driver-assist system on its electric heavy trucks starting late next year, the company said Wednesday. The system, made by Plus and called PlusDrive, is similar to the highway driving systems offered by automakers including Tesla, General Motors and Ford Motor… Continue reading Nikola will offer a driver-assist system for its trucks starting next year
Jeep, Dodge maker Stellantis posts record annual profit, announces $4.47 billion shareholder payout
An engine undergoes assembly at the Stellantis Dundee Engine Complex on August 18, 2022 in Dundee, Michigan. Bill Pugliano | Getty Images Carmaker Stellantis on Wednesday announced record full-year results, reporting a 26% rise in net profit to 16.8 billion euros ($17.9 billion) and a 41% annual jump in global battery and electric vehicle sales.… Continue reading Jeep, Dodge maker Stellantis posts record annual profit, announces $4.47 billion shareholder payout
Bentley to end production of ultra-performance 12-cylinder engine as it transitions to EVs
A staff member checks a Bentayga SUV on the Bentley production line at their factory in Crewe, Britain, December 7, 2022. Phil Noble | Reuters Bentley Motors plans to end production of its 12-cylinder engine next April as the famed luxury carmaker transitions to electric vehicles. The British automaker of ultra-luxury performance cars said the… Continue reading Bentley to end production of ultra-performance 12-cylinder engine as it transitions to EVs
GM truck plant to take 2-week shutdown to maintain ‘optimal’ inventory levels
General Motors Co. is halting production at its Fort Wayne, Indiana, truck plant for two weeks this spring “to help the company maintain optimal inventory levels,” Assistant Plant Director Cherry Weiland wrote in a Wednesday note to employees obtained by The Detroit News. GM spokesperson Dan Flores confirmed the two-week shutdown at the light-duty truck… Continue reading GM truck plant to take 2-week shutdown to maintain ‘optimal’ inventory levels
As tech jobs melt, the trades beckon. This plumber makes $140K+
This content is only available to subscribers. Get unlimited digital access. $1 for 3 Months. Subscribe Now Your subscription supports: Unlimited access to subscriber only articles on desktop, tablet and mobile web. The eNewspaper, a digital replica of the print paper, every day. Trusted, up-to-date local Detroit and Michigan breaking news. Newsletters on topics that… Continue reading As tech jobs melt, the trades beckon. This plumber makes $140K+
Stellantis outdoes first year with $17.9B profit in 2022
Cost-cutting measures and few discounts fueled the maker of Jeep SUVs and Ram pickup trucks to a $17.9 billion (16.8 billion euro) net profit in 2022, surpassing Stellantis NV’s first-year profits in 2021 by 26%. With a 13% adjusted operating income margin compared to 11.8% a year ago, Stellantis achieved its double-digit margin expectations for the year. Its… Continue reading Stellantis outdoes first year with $17.9B profit in 2022
Stellantis workers could receive $14,760 in profit sharing
Employees of Stellantis NV, maker of Jeep SUVs and Ram pickup trucks, represented by the United Auto Workers could see profit sharing checks next month of $14,760, though some could be more and some less, the automaker announced Wednesday. There are 40,500 eligible workers for the checks. The payout is a less than 1% increase from last year following… Continue reading Stellantis workers could receive $14,760 in profit sharing