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The funding lets Lyten acquire intellectual property related to energy storage systems, in addition to its previously announced deal on Northvolt’s Polish assembly plant.

Stellantis sales in the U.S. fell 10% in the second quarter despite resilient demand for Jeep SUVs and Ram trucks.

“It would be a shame to build these facilities and then all of a sudden you have to scale back on the most important part of it, which is people,” a Ford vice president told reporters.

Ram is putting the Hemi V8 engine back in its light-duty pickup trucks, part of a blitz of changes from brand head Tim Kuniskis to claw back lost share in the hyper-competitive truck market.

Stellantis is bringing a cheaper version of its Michigan-made Ram pickup truck to the U.S. market in a bid to bolster sales and minimize its tariff bill.

President Donald Trump signed an executive order easing the impact of his auto tariffs, yielding to weeks of intense lobbying from automakers, parts suppliers and car dealers.

It’s unclear what percentage of the cost Stellantis is willing to pay and suppliers would have to meet a number of requirements in order to qualify for the program.

Jeep maker Stellantis is offering fresh discounts across its brands while Hyundai pledged to hold prices steady until June 2 in a bid to ease fears that tariffs will make cars more expensive.

Stellantis NV is temporarily halting work at factories in Canada and Mexico as U.S. tariffs begin to impact operations across the automotive industry.

The automaker hasn’t decided where to build certain new vehicles such as the replacement for the Jeep Cherokee midsize SUV, which ceased production in the key segment in 2023.