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EV cost burden pushing automakers to their limits, says Stellantis' CEO Tavares

DETROIT — Stellantis CEO Carlos Tavares said external pressure on automakers to quickly shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle with EVs' higher costs. Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said. "There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost. Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said. Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm. "Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said. "The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits." Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade. Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from both establishment automakers such as GM, Ford, VW and Hyundai, as well as start-ups such as Tesla and Rivian. The latter electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the highly profitable Jeep and Ram brands. That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035.

Vin Diesel reveals first poster for Furious 8

Vin Diesel unveiled the first poster for Furious 8. The image shows Dom standing on a deserted road with his Dodge Charger with the tagline: "New roads ahead." Diesel's post doesn't offer any other new details about the much-anticipated action film, which is still a year away from theaters. While this image is teasing, we continue to get a better idea of Furious 8's cast. Scott Eastwood, Clint Eastwood's son, has a prominent role in the film, and Charlize Theron plays a villain. Dwayne Johnson also confirmed his return as Hobbs. Plot details still vague, though. An earlier teaser from Diesel hinted that some of the movie might take place in Manhattan, which could be an amazing setting for automotive stunts. The crew has also been filming north of Reykjavik, Iceland, which would be a great locale for off-road action. Furious 8 will hit theaters on April 14, 2017. According to Diesel, part 9 will arrive on April 19, 2019, and Fast & Furious 10 will potentially end the main franchise on April 2, 2021. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video:

Our video tribute to Star Wars with a Stormtrooper Charger

When the refreshed Dodge Charger debuted, the white one was immediately compared to a Star Wars Stormtrooper helmet. Chrysler recently ran with that idea and decorated a fleet of cars, including some Chargers, for use in a marketing stunt to hype its wares alongside the no-hype-necessary Episode VII: The Force Awakens film. We got our hands on one for a day and had some fun making a few videos. Above are a few shorts with names that we at least think are funny. There's one that includes the latest example of video producer Chris McGraw's patented nightlapse technology (it's a hyperlapse shot at night, which just looks plain neat). In the clip below, you can see all of the car's various Stormtrooper-inspired details. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The car started out as a bright white Charger R/T Scat Pack and was treated to a partial vinyl wrap on the body and the glass. The fantastic 485-horsepower Hemi V8 was left alone. Watch the videos and then tell us how they're non-canon in the comments. Humor Dodge Videos Original Video star wars dodge charger scat pack