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...A long-standing US investor in one of Toyota’s largest subsidiaries has blamed the sprawling car group’s structure for recent data scandals and called for an urgent governance overhaul, as well as the unwinding...
...These included a one-off dividend of $3.5bn from Fiat Chrysler ahead of the merger with PSA to form Stellantis in 2020 to equalise the value of the combining companies....
...Its driverless vehicles have been operating in certain US cities including San Francisco as a taxi service....
...Fiat was almost bust in the early 2000s. Chrysler was bankrupt. Peugeot was bailed out in 2014, while Opel was sold by General Motors after decades of accumulated losses....
...The company was formed in early 2021 through the merger of France’s PSA, the maker of Peugeot, and Italian-US peer Fiat Chrysler....
...Fiat merged with US group Chrysler in 2014....
...The Paris-based carmaker, created in 2021 from the merger between Italy’s Fiat-Chrysler and France’s PSA, seemingly backtracked last week in a bid to ease tensions with Rome and unions....
...Stellantis was formed by the merger of Peugeot owner PSA — which itself bought lossmaking Opel and Vauxhall from General Motors — and Fiat Chrysler, a business created when the bankrupt Chrysler was sold...
...Last year, the three biggest US carmakers — Ford, General Motors and Stellantis, which owns Chrysler — suffered strikes during wage negotiations with the United Auto Workers union....
...The carmaker, born out of the 2020 merger between Italy’s FCA (Fiat Chrysler) and Groupe PSA (Peugeot Citroën), has raced well ahead....
...To settle the United Auto Workers’ strike in November last year, GM, Ford and Stellantis (formed by the merger of Fiat Chrysler and PSA in 2021) have agreed to offer a pay rise to UAW workers of 25 per cent...
...Stellantis, which also produces European brands such as Peugeot and Fiat and owns the Jeep brand in the US, said demand was strong in its key markets, including in the US....
...China started commercial driverless development in 2013, about five years after groups in the US....
...Brazil is the world’s sixth-biggest automobile market, according to Statista....
...Altogether the company’s response was attributed to “poor leadership, mistakes in judgment, lack of co-ordination, an ‘us versus them’ mentality with regulators, and a fundamental misapprehension of Cruise...
...The United Auto Workers on Saturday said it had reached a tentative labour agreement with Fiat Chrysler parent Stellantis, which would raise wages and end a six-week strike....
...Its market capitalisation topped $85bn, at least $27bn higher than either Ford, General Motors or Fiat Chrysler owner Stellantis....
The standalone business has yet to prove itself roadworthy
...“We’re not Ford, GM and Chrysler building these $30, $40 or $50,000 cars,” he said. “Our cars are $100,000-plus. So why would we not deserve this? Because we live in Alabama?...
...Last year VinFast listed in the US through a merger with a special purpose acquisition company....
...Commercial vehicles already account for a third of revenues for Stellantis, which was formed by the merger of Fiat Chrysler and PSA in 2021, and about half of its profits....
...Stellantis, which was formed by the merger of Italian-American group Fiat Chrysler and France’s PSA in 2021, has found it difficult to compete in China....
...US car worker strikes cost Stellantis €3bn in lost revenues, the Chrysler maker said on Tuesday, as it reported higher sales for the third quarter....
...richard.waters@ft.com Letter in response to this article: Driverless cars in search of Edison lightbulb moment / From Michael Ayres, San Francisco, CA, US...
...“GM is pleased to have reached a tentative agreement with the UAW that reflects the contributions of the team while enabling us to continue to invest in our future and provide good jobs in the US,” Mary...
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