Volkswagen (VWAGY), Renault (RNLSY) and Stellantis (STLA) are exploring tie-ups with sworn competitors to make cheaper electric vehicles and fend off existential threats, Bloomberg’s Albertina Torsoli, Stefan Nicola, and Monica Raymunt report. As Chinese rivals and Tesla (TSLA) expose competitive weaknesses at Europe’s biggest mass-market carmakers, it’s become clear that a sense of urgency is growing and a business-as-usual approach is a losing option, the authors say.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on VWAGY:
- Stellantis initiated with an Outperform at Wolfe Research
- Truckmakers form association to push for electric vehicle charges, NYTimes says
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Volkswagen price target raised to EUR 146 from EUR 140 at RBC Capital
- Volkswagen price target lowered to EUR 180 from EUR 190 at Deutsche Bank
