Ayvens* (Euronext: ALD) and Stellantis (NYSE: STLA) said today that they have reached a multi-billion euro agreement “that encourages Ayvens’ affiliates to buy as many as 500,000 vehicles for its long-term leasing fleet across Europe during the next three years. The first significant delivery volumes are expected to begin in the first half of 2024 and continue throughout the year.
“One of the shared priorities will be integrating Stellantis’ innovative range of sustainable vehicles to support Ayvens’ multi-brand strategy,” the mobility companies said. Their stock prices are contrary with Stellantis near record highs and Ayvens near record lows. Stellantis also has its own leasing business, which is to a degree a competitor of Ayvens.
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Ford Recalls Expeditions, Navigators for Bad Seat Belts
Ford Motor Company (NYSE: F) is recalling 2018-2020 Expedition and Lincoln Navigator vehicles, according to documents made publicly available by the National Highway Traffic Safety Administration this morning.
The seat belt pretensioner in the driver and/or front passenger seat may inadvertently deploy and lock the seat belt, which will not allow the belt to retract or extend. About 80,000 SUVs are involved in a safety defect that occurs because of rust.* Continue reading →