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John Elkann: Italian dynasty heir at the helm of Stellantis [Video]

John Elkann, who is taking the wheel at Jeep and Fiat owner Stellantis after the ouster of its CEO, is the discreet but steely heir to an Italian dynasty associated with Juventus, Ferrari and The Economist.

The 48-year-old billionaire manages the Agnelli family estate as chief executive of Exor, a holding company with stakes in the Serie A football club, the luxury car company and the business weekly.

The day after embattled Carlos Tavares was ousted with immediate effect from Stellantis on Sunday, Elkann was on a plane to the United States, his home country and once the group’s cash cow.

Dealerships there, as in Europe, are now struggling, leaving Stellantis — like car manufacturers across the board — in dire straits.

Exor is the main shareholder of Stellantis, a 15-brand behemoth born from the 2021 merger of Fiat Chrysler Automobiles (FCA) and Peugeot-Citroen (PSA), with a fleet that includes …

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BMW Manufacturing set to build 6 fully electric models by 2030 [Video]

The excitement inside of BMW Manufacturing's Plant Spartanburg was high as the first vehicles rolled onto the newly expanded assembly line on Thursday morning. WYFF News 4 was given an exclusive look. To watch the story, click on the video above. The nearly $2 billion upfit expanded the assembly hall by more than 50 percent and will allow for the assembly of fully electric, hybrid and internal combustion engines. That diversity is part of BMW's "Technology Openness Approach." WYFF News 4 was also granted an exclusive interview with Oliver Zipse, chair of the Board of Management BMW AG.He said that strategy is all about the quality of the vehicle and the brand."Whether it's highly efficient combustion engines, whether it's plug-in hybrid, or fully electric, or even M models, we make that independent of the drivetrain, and customers have a choice. I think our current model success shows that we don't tell people what to buy, we supply what they want. We manage the complexity behind it, and we will continue that strategy here in Spartanburg," Zipse said. The expansion will enable BMW to build at least six fully electric models by 2030, and the high voltage batteries to fuel those vehicles will be assembled right down the street in Woodruff. Our tour gave us another exclusive peek today inside "Plant Woodruff," which is one year from completion. Zipse visited the plant for the first time since announcing the plan in 2022.He said he's pleased with the progress."We believe first of all in the technology, second that people would like to contribute for local value added and especially in the highly valued and very expensive electric drive train. So that is a big step for us, but also a big step for our customers," Zipse said. It's hard to overstate the economic value of South Carolina's relationship with the BMW Group for the past thirty years. The group has invested more than $14.8 billion and is now completing its seventh expansion. According to the Darla Moore School of Business at USC, the annual overall economic impact of BMW in South Carolina is $26.7 billion.Zipse said South Carolina feels like a second home."Now, 30 years later, we are the largest exporter in value of vehicles from the United States, so we are not only supplying the local market, we supply the world with our vehicles, and because we are investing, we see a grand future here in South Carolina for the world," Zipse said. He points to the company motto as the BMW Group and South Carolina look to the next 30 years, "Building Legacy - Driving Future."