Hyperdrive Daily: Stellantis Piles Onto $150 Billion Spending Spree
Stellantis CEO Carlos Tavares at a news conference in January.
Photographer: Cyril Marcilhacy/BloombergWelcome to the Hyperdrive daily briefing, decoding the revolution reshaping the auto world, from EVs to self-driving cars and beyond.
In a matter of months, Volkswagen, Ford and GM have put out eye-popping budgets for the next few years totaling more than $150 billion, much of it going to the dozens of electric models they’re developing and vehicle and battery factories to build them. Their shares have surged on optimism they’ll hold their own with all-electric upstarts led by Tesla.