India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Global automaker Stellantis is reportedly planning to increase its investment in the United States by up to $10 billion, as part of its strategy to expand electric vehicle (EV) production and strengthen its North American footprint.
According to industry sources, the potential investment would support the development of battery manufacturing facilities, EV assembly plants, and advanced supply chain networks across key states. The move aligns with Stellantis’ long-term plan to achieve carbon net-zero by 2038 and accelerate EV adoption in the U.S. market.
The company, which owns brands such as Jeep, Dodge, Chrysler, and Ram, is evaluating partnerships with American battery producers to localize supply and reduce dependency on overseas raw materials.
This proposed investment comes amid intensifying competition among global automakers, including General Motors, Ford, and Tesla, who are ramping up their EV and battery production capacities under U.S. clean energy incentives.
Analysts view Stellantis’ expansion as a major step to reinforce its presence in the world’s second-largest automotive market, boost local employment, and advance the Biden administration’s goal of building a sustainable, domestic EV ecosystem.
Also Read : Canada seeks to support the steel sector amid US tariffs US extends sanctions on Russian iron & steel companies
Union Minister of Road Transport & Highways, Nitin Gadkari, has unveiled a significant allocatio...
Press Releases 06-Feb-2024
Greenhouse gas emissions from the aluminium sector have been slipping in recent years even as output...
Non-Ferrous 29-Feb-2024
Revenue in China’s steel sector fell by 4.2% compared to the same period in 2023 – to CN...
Ferrous 29-May-2024
According to a report, the government's infrastructure-led growth goal generated a 26% increase in s...
Construction 07-May-2024
Panasonic's battery business must focus on boosting productivity, according to the group CEO Yuki Ku...
USA 22-Jan-2024
September futures on iron ore, the largest traded commodity on the Dalian Commodity Exchange, have r...
Ferrous 15-May-2024