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Thursday is upon us as company Christmas parties seem to be in full swing across the country! Today we look into a surprising new development in the profitability of Stellantis’ EV unit, GM bringing employees back to the office, and Tesla calling their shots with a little letter to other OEMs.
Show Notes with links:
- Stellantis CEO Carlos Tavares announced the company's EVs were profitable in the U.S. and Europe, having closed the gap with internal combustion engines.
- Tavares emphasized the necessity of sharp cost management to maintain profitable and affordable pricing for middle-class consumers.
- Tavares also noted the gap in profit between EV and ICE is closing more quickly in Europe because they started there sooner.
- The company will be expanding its EV lineup, planning over 75 models globally by 2030, with a focus on models like the Ram ProMaster van and Jeep Recon in the U.S.
- A recent partnership with Chinese EV maker Leapmotor aimed to bring cost-competitive electric models to European markets.
- Tavares also noted that Stellantis is "fighting head-on" with Tesla in Europe while CFO Natalie Knight said Stellantis is now Europe's No. 2 EV seller, beating out Tesla
- General Motors (GM) has ended its flexible "Work Appropriately" policy, mandating office presence for three days weekly. This shift marks a significant change from the pandemic-era approach.
- GM CEO Mary Barra announced the end of the flexible remote work policy, requiring staff within 50 miles of a GM office to attend in person Tuesday to Thursday.
- The policy, effective January 8, 2024, aims to meet critical business needs and maintain company culture.
- GM initially allowed department-specific policies due to staff pushback but has now joined other firms in tightening remote work options.
- Tesla is distributing a free guide on 48-volt architecture to other car company CEOs, challenging them to enhance their electric vehicle (EV) manufacturing processes.
- This guide details the implementation of 48-volt systems, key for advanced features like "steer-by-wire" 4-wheel steering, marking a significant leap from traditional 12-volt systems.
- Tesla's move democratizes knowledge in the EV industry, typically characterized by closely-guarded technological secrets, fostering a more collaborative environment.
Jim Farley tweeted in reply to the news: “They weren’t joking. We received the document today, dated Dec.5th. Thanks Elon Musk. Great for the industry!”
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