According to Automotive News Canada, the Stellantis (stock code: STLA) Canadian factory began a strike on October 29th local time due to labor negotiations failing to reach a preliminary agreement. The strike involved approximately 8200 workers from the Canadian Federation of Trade Unions at the Stellantis factory.
According to public information, Stellantis Group was formed by the merger of PSA Group and Fiat Chrysler Group in 2021. Its automotive brands include Abbas, Chrysler, Citroen, DS, Jeep, Lancia, Opel, Peugeot, Vauxhall, and others.
In addition, on October 26th, Stellantis Group reached a global strategic partnership with Zero Motor, planning to invest approximately 1.5 billion euros to acquire approximately 20% equity in Zero Motor. (Previously reported: Zero Run Motors received € 1.5 billion in investment from multinational car company Stellantis and sold 20% equity)
In the secondary market, as of the close of trading on the 27th Eastern Time, Stellantis fell 2.28% to $18.04 per share.
Source: Reading and Innovation Finance Comprehensive