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Top United Auto Workers are close to a tentative agreement with Stellantis and will outline to local union officials on Saturday terms including reopening the automaker's Illinois assembly plant, two people familiar with the matter said.

Nov. 10 is a good guess on when the 2023 UAW-Detroit Three auto maker strike will end.

Chrysler parent company Stellantis (STLA) said it plans to spend 1.5 billion euros ($1.6 billion) to acquire a roughly 20% stake in Chinese electric vehicle startup Leapmotor, in a move that could help the Big Three automaker expand its presence in China.

The costly United Auto Workers (UAW) strike against Ford (F), General Motors (GM), and Stellantis (STLA), could complicate the Big Three automakers' already difficult transition to electric vehicles (EVs).

Guessing which Chinese EV startups will come out on top seems a high-risk game, and it is a measure of the challenge facing global automakers that Stellantis feels the need to play it.

Ford autoworkers were set to head back to work after the United Auto Workers (UAW) union reached a tentative labor deal with the company late Wednesday.

Stellantis is looking to boost its presence in China where it is a small player, while Leapmotor has ambitions to expand aggressively into Europe.

Stellantis NV (NYSE:STLA, EPA:STLA), the European automotive giant behind Fiat and Citroën, is investing €1.5 billion to acquire a 20% stake in Chinese electric vehicle (EV) start-up Leapmotor. The move aims to strengthen Stellantis's foothold in China's burgeoning EV market.

China's Zhejiang Leapmotor Technology on Thursday said it will issue shares worth HK$8.51 billion ($1.09 billion) to Stellantis NV.

After a difficult month, Stellantis (NYSE: STLA ) just offered investors a reason to be optimistic. The prominent automaker has been struggling for weeks as the United Auto Workers (UAW) strike drags on.