Stellantis Stock Collapses As Jeep Maker Takes $26 Billion Hit In Latest EV Pivot

[Cmar]

You can still buy solar shingles - at one time hyped as the next biggest thing - but I think that hasn't proved out. In the devlopment I live in all houses are required to have tile roofs and most if not all are concrete tiles and they are heavy, supposedly more difficult to install solar panels. Expensive roof but supposed to last 50+ yrs.

Yes tile roofs are harder to install panels on because you have to cut and waterproof some tiles to screw to the battens underneath. But because concrete tiles are heavy, particularly when wet, they usually sit on nice sturdy roofs. Iron roofs are much simpler they can simply remove some of the roofing screws, put on the mounting brackets and replace the screws for a good strong mount.

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[LaBalbe]

Going back to the original topic, Stellantis just sold their 49% stake in a battery plant near Windsor, ON, to LG, who already owned the other 51%. How much did LG pay? A whopping $100 (presumably CAD, not USD)!! The LG execs probably spent more than that celebrating the deal!

Apparently, they're going to pivot away from EV batteries to other large batteries, so I get Stellantis pulling out, but to give away a 49% stake in a facility for $100 is insane. Even if it was a decrepit, abandoned building, it would be worth more than that. No wonder they're taking such a huge hit on this pivot.

https://www.theglobeandmail.com/bus...lution-stellantis-ev-battery-nextstar-energy/

 

[AzScorpion]

Going back to the original topic, Stellantis just sold their 49% stake in a battery plant near Windsor, ON, to LG, who already owned the other 51%. How much did LG pay? A whopping $100 (presumably CAD, not USD)!! The LG execs probably spent more than that celebrating the deal!

Apparently, they're going to pivot away from EV batteries to other large batteries, so I get Stellantis pulling out, but to give away a 49% stake in a facility for $100 is insane. Even if it was a decrepit, abandoned building, it would be worth more than that. No wonder they're taking such a huge hit on this pivot.

https://www.theglobeandmail.com/bus...lution-stellantis-ev-battery-nextstar-energy/

Selling it for $100 is most likely easier for them to write the whole place off on their taxes than just a percentage. Now they get a 100% write off for all their EV losses and can go on to their next big adventure failure.

 

[Grumpaw]

I found these spy shots of what Stellantis is going to try to market as their next eco friendly vehicles......
Thankfully nothing like this from Ford.........yet !!!
Third photo is spy shot of GM offering......GM claims it also produces copious amounts of fertilizer for your garden......

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