Cars News

There were no external investors participating in the round. The company did not provide any details on its valuation.

Panasonic unveiled the 4680 format (46 millimetres wide and 80 millimetres tall) battery in October.

Since merging Fiat Chrysler and Peugeot to create the world's No. 4 carmaker by production, Tavares has mapped out a 30 billion euro ($34 billion) electrification plan that helped Stellantis shares surge more than 60% in their first year.

Sales of EVs in the United States jumped to a record high earlier this month with 434,879 new units on the road, however, demand for their hybrid counterparts remained strong as many customers withdrew from EVs due to higher prices, limited driving range and fewer charging stations than required.

Great Wall plans to launch 10 new electrified products within three years in Brazil, four of which will be pure electric vehicles and six hybrids.

Stellantis' business performance in China improved markedly in 2021, with its Dongfeng Peugeot Citroen Automobile selling more than 100,000 vehicles.

"I would be shocked if we do not achieve full self-driving safer than human this year. I would be shocked," Elon Musk said.

Rivian Automotive Inc will delay deliveries of its electric pickup truck and sports utility vehicle with big battery packs to 2023, Chief Executive RJ Scaringe said in a mail to customers on Tuesday.