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DoJ charges Stellantis units in diesel exhaust detectors; impending guilty plea (NYSE: STLA)

Interior Maserati Levante Italian luxury SUV

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Judicial Stellantis’ (NYSE:STLA) Fiat Chrysler US business with criminal conspiracy on Thursday in a years-long emissions fraud investigation involving diesel-powered vehicles, as reported by Reuters.

DoJ said Fiat Chrysler (STLA) deceived US regulators and sold their vehicles “in the knowledge that those vehicles did not meet US emissions standards” and deceived customers “by misrepresenting the facts and misleading.”

Reuters reported last week that Stellantis (STLA) has agreed to plead guilty to one charge of conspiracy to commit a crime in the case and pay ~300 million dollars in fines.

According to Reuters, the imminent guilty plea represents the last significant action US officials are expected to take against the company in the matter of emissions cheating.

Separately, Stellantis (STLA) many words reached an agreement to secure lithium to produce electric vehicles in North America from a Controlled Heat Source, operating in California’s Salton Sea.

The automaker says CTR will supply up to 25,000 tonnes of lithium hydroxide per year over the 10-year term of the deal.

Stellantis (STLA) has outlined plans to have 75 battery electric vehicle models on the market and sell 5 million EVs per year by 2030.

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