Latest news with #US-European
Budapest Times
9 hours ago
- Business
- Budapest Times
FM: Major US investments planned in Hungary
Péter Szijjártó, Minister of Foreign Affairs and Trade, said negotiations are at an advanced stage on several major US investments planned in Hungary. Minister Szijjártó said the next US investment is expected to be announced on Friday, and another three projects will follow. Growing US FDI arriving in Hungary and the jobs created by these investments will offset the damage done by the European Commission in terms of the new trade tariffs, he said. Communication between Prime Minister Viktor Orbán and US President Donald Trump is continuous, he said and added that a personal meeting could be arranged at any time if it looked necessary. 'As for any secondary tariffs, we very much hope to avoid those,' he added. 'Hopefully, there will be a solution in Ukraine within the deadline projected by Donald Trump, and then the issue of secondary tariffs can be taken off the agenda,' he said. On the US-European trade deal signed the previous day, Minister Szijjártó noted that Hungary's government had already proposed at the time of President Trump's inauguration that the EC should immediately reduce tariffs on US imports. 'If the EC had moved then, then the tariff ordeal that the European Union has been forced to take part in recent months would not have taken place,' Minister Szijjártó said. 'This tariff ordeal of EC President Ursula von der Leyen and the Commission has caused serious damage to the EU and the European economy. We could have avoided a worse deal with the United States than that of our competitors if the EC had taken the necessary decisions in time, when Trump took office,' he said.
Time of India
19-07-2025
- Automotive
- Time of India
Shareholders in Jeep owner Stellantis back new CEO
Shareholders in US-European auto giant Stellantis , owner of Jeep , Fiat and Peugeot , on Friday gave their overwhelming approval to new CEO Antonio Filosa , a company veteran who last month succeeded Carlos Tavares in the job. His nomination was backed nearly unanimously -- by 99.2 per cent -- in the extraordinary shareholders' meeting, allowing him to sit on the board of the world's fourth-biggest auto group. Filosa, a 52-year-old Italian, was in May tapped to take over from Tavares, the company's Portuguese boss who was sacked in December. Filosa took up his new role on June 23. His task will be to jump-start performance at the struggling group, whose 14 brands also include Chrysler, Dodge and Maserati. Filosa previously headed Stellantis's North America operations, and will continue to do so as CEO. That region accounts for most of the company's profits. The company's chairman, John Elkann, heir to the family that founded Fiat, said Filosa was "deeply involved" in efforts to "constructively interact" with the government of US President Donald Trump, who has slapped 25-per cent tariffs on car imports.
The Sun
03-07-2025
- Automotive
- The Sun
Stellantis recalls 636,000 units over diesel engine
CHARTRES-DE-BRETAGNE: US-European automaker Stellantis group has begun a recall of hundreds of thousands of Peugeot, Citroen, Fiat, Opel and DS cars equipped with the 1.5 BlueHDi diesel engine, a group spokesperson told AFP Thursday. Produced between 2017 and 2023, the models concerned have experienced problems with the timing chain that synchronises the opening and closing of the intake and exhaust valves. Overall, 636,000 vehicles will be gradually recalled in France and still more in European countries affected. The small 1.5 BlueHDI engine (called 'DV5') powers dozens of popular models, including the Citroen C3, C4, Opel Corsa, Mokka, and Peugeot 208, 2008, and 308. Owners of those vehicles have expressed concern at issues including engine knocking or chirping sounds which could lead to broken valves or actual engine failure. The manufacturer will be contacting affected owners. When the vehicle arrives at the dealership an app can analyse the extent of the problem and see if parts should be replaced if premature wear is diagnosed. Stellantis has extended the warranty on units affected to ten years or 240,000 kilometres (140,000 miles), the group said. Customers who have had timing chain problems will be able to claim compensation for related expenses, Stellantis said, 'provided that the vehicle's maintenance and diagnostics follow the brand's recommended guidelines.' The issue is the latest in a number of recent reliability issues to hit Stellantis. The group's new CEO, Antonio Filosa, has made vehicle quality a top priority. – AFP
Time of India
03-07-2025
- Automotive
- Time of India
Electric Van Sales: Stellantis warns of plant closures as e-van sales stall, ETHRWorld
Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. Hordain: US-European automaker Stellantis may close factories in the coming months because sales of electric light commercial vehicles are not finding enough clients, its European chief warned Imparato also said EU targets for increasing the bloc's fleet of e-van vehicles would be impossible to reach, putting the company at risk of billions of euros in fines."We're just a few months' away from disaster," Imparato said at the Stellantis factory in Hordain, northern France, where around 2,600 employees produce commercial vans for the group's Citroen, Peugeot, Fiat and Opel company has said it faces fines of 2.6 billion euros ($3.1 billion) over the three years to end-2027 if e-vans remain at the current level of nine percent of the European says EU targets call for e-vans to represent 13 percent of the overall fleet in 2025 before rising to 24 percent in 2027."Everybody tells me, 'Don't worry, you won't have to pay them'," Imparato said."But for now all I have are statements. There's no sense of urgency," he said."If I have to pay this penalty, I shut down factories, it's inevitable," he said, because the targets mean Stellantis would have to cut back on production of diesel company also has van factories in Britain, Germany, Italy, Poland and is one of Europe's biggest producers of light commercial vehicles, used for transport of both goods and automakers are bristling as e-vehicle sales lag despite Brussels' target that they make up 100 percent of new sales by automotive sector is the jewel in Europe's industrial crown, employing around 13 million people and contributing around seven percent to the bloc's May, EU countries gave final approval to a reprieve for European carmakers over new emission targets, as they seek to balance climate goals with support for the struggling industry.
The Citizen
02-07-2025
- Automotive
- The Citizen
Stellantis warns of factory closures as e-van sales stall in Europe
Stellantis has warned that European emission goals may force it to halt diesel van production and close plants. US-European automaker Stellantis may close factories in the coming months because sales of electric light commercial vehicles are not finding enough clients, its European chief warned Wednesday. Jean-Philippe Imparato also said EU targets for increasing the bloc's fleet of e-van vehicles would be impossible to reach, putting the company at risk of billions of euros in fines. 'We're just a few months' away from disaster,' Imparato said at the Stellantis factory in Hordain, northern France, where around 2 600 employees produce commercial vans for the group's Citroen, Peugeot, Fiat and Opel brands. Stellantis faces hefty fines The company has said it faces fines of 2.6 billion euros ($3.1 billion) over the three years to end-2027 if e-vans remain at the current level of nine percent of the European market. It says EU targets call for e-vans to represent 13 percent of the overall fleet in 2025 before rising to 24 percent in 2027. 'Everybody tells me, 'Don't worry, you won't have to pay them',' Imparato said. ALSO READ: Reports claim Rosslyn to be one of Nissan's plants facing closure 'But for now all I have are statements. There's no sense of urgency,' he said. 'If I have to pay this penalty, I shut down factories, it's inevitable,' he said, because the targets mean Stellantis would have to cut back on production of diesel vans. Big producer in Europe The company also has van factories in Britain, Germany, Italy, Poland and Spain. Stellantis is one of Europe's biggest producers of light commercial vehicles, used for transport of both goods and people. Lag of e-vehicle sales in Europe European automakers are bristling as e-vehicle sales lag despite Brussels' target that they make up 100 percent of new sales by 2035. The automotive sector is the jewel in Europe's industrial crown, employing around 13 million people and contributing around seven percent to the bloc's GDP. In May, EU countries gave final approval to a reprieve for European carmakers over new emission targets, as they seek to balance climate goals with support for the struggling industry. NOW READ: Tyre giant hits the brakes: Numsa laments Goodyear closure affecting 900 jobs
