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Stellantis says its 2021 performance has been better than expected

MILAN — Stellantis softened up investors ahead of its electrification strategy event on Thursday by flagging that 2021 got off to a better-than-expected start despite a chip shortage that has hit automakers worldwide. Stellantis, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, faces an investor community keen to hear how it plans to come up with a range of electrified vehicles (EVs) to rival Tesla. At its "EV Day 2021" kicking off at 1230 GMT, Stellantis will disclose significant investments in electrification technology and connected software as it aims to be an industry frontrunner, it said in a statement. In April, Chief Executive Carlos Tavares said it would offer low-emission versions — either battery or hybrid electric — of almost all of its European models by 2025, and they should make up 70% of European sales and 35% of U.S. sales by 2030. Stellantis, the world's fourth-biggest automaker, has 14 brands in its stable, including Jeep, Ram, Opel, Fiat, Peugeot and Maserati.   Stellantis EV Day coverage: Dodge will launch the 'world's first electric muscle car' in 2024 Fully electric Ram 1500 will begin production in 2024 Jeep will have 4xe plug-in hybrid models across the lineup by 2025 Stellantis teases mystery electric Chrysler concept Stellantis previews 4 electric platforms: Here's how they'll be used Fiat says all Abarth models to be electric from 2024 Opel Manta E will be the electric revival of the classic German coupe Stellantis says its 2021 performance has been better than expected   At a similar EV strategy event last week, French rival Renault announced that 90% of its main brand models would be all-electric by 2030, whereas previously it had included hybrids in its target. Germany's Volkswagen, the world's second-biggest automaker after Toyota, expects all-electric vehicles to make up 55% of its total sales in Europe by 2030, and more than 70% of sales at its Volkswagen brand. Stellantis said its margins on adjusted operating profits in the first half of 2021 were expected to exceed an annual target of between 5.5% and 7.5%, despite production losses due to a global shortage of semiconductor supplies. Stellantis shares listed in Milan were down 2.6% at 0920 GMT, underperforming the broader European car index. Bestinver analyst Marco Opipari said Thursday's news was positive but that the stock was suffering from profit taking as it had moved up about 20% since the end of April.

Abarth trim of Fiat 124 Spider reportedly debuts in Geneva

Keep your eyes open for the possible debut of the high-performance Abarth version of the Fiat 124 Spider at the Geneva Motor Show, which opens March 1. Alfredo Altavilla, FCA's chief operating officer for Europe, told Italian newspaper Corriere Della Sera the hotter droptop would debut in Switzerland, according to Road & Track. Unfortunately, he simply said the convertible would be there and didn't offer any details about its upgrades. Rumors paint a fairly complete picture about what to expect from the Abarth 124. European models would likely make 170 horsepower from a tuned version of the regular one's 1.4-liter turbocharged engine. However, there would also be an even hotter EsseEsse trim, which the US would get, with around 220 horsepower. Achieving that much power might require a new engine, and it's possible the convertible could borrow the 1.75-liter turbo unit from the Alfa Romeo 4C. Spy shots show the Abarth has a more aggressive look to match its extra performance. The body features larger front takes, bigger side sills, and dual-exit exhausts at each corner of the rear. Reports also suggest Fiat would borrow from the classic 124 Spider by offering options like a removable hardtop and blacked-out hood. During the standard 124 Spider's debut at the LA Auto Show, Olivier Francois, global head of the Fiat brand, said the company plans to market the new convertible as a relatively affordable but distinctly Italian sports car. A Ferrari might be out of a buyer's reach, but a Fiat is attainable. The Abarth's extra performance seems like a perfect way to further that message, and we can't wait to see it. Related Video:

Fiat previews a new Panda, and a whole Panda-based range of global cars

Fiat isn't attending the Geneva Motor Show, but that hasn't stopped it from going to Geneva ... Italy. That's right, there's a dainty patch of ground in Brescia called Ginevra, which is Italian for Geneva. Fiat CEO and Stellantis' chief marketing officer Olivier Francois has pulled another sly one, hosting his own miniature auto show at a bar in Ginevra to showcase Fiat's coming range of global models. The presentation is all about the Panda, old and new, with Fiat reworking the spirit and ethos of the 44-year-old nameplate into four concepts that start with an all-new Panda on Stellantis' global platform, then branch into two updates on popular current products and two all-new products. After winning the Stellantis family sales title with 1.3 million units moved last year, Francois said of the brand, "[Our] next step will be to transition from local products to a global offer that can benefit all of our customers everywhere in the world," embodying the philosophy that "functionality should never exist without fun." A plan for sharing up to 80% of parts between models, on top of that shared platform, is the key enabler. And just as we mentioned yesterday with Jeep, Fiat's talking big about the range of available powertrains, with ICE, EV, hybrid and PHEV in the mix.   Here's the heart of the new range, your all-new Panda just like it says on the door, called "City Car" in the video. Fiat will present this one to itself and the world in July this year during the company's 125th anniversary. In it can be seen the basic idea of the concept Fiat presented to itself as a 120th birthday present, the Centoventi Concept revealed at the 2019 Geneva Motor Show (the one in Switzerland). We heard nothing about the Centoventi after that, its fundamentals showing up first in the Citroen C3, and from there back to Fiat with this all-new Panda. Francois called this a sort-of "Mega Panda," a phrase we want on a T-shirt, boasting a crossover-like upright design, higher driving position, and increased roominess. The entire range will emphasize sustainability, ease-of-use, and modularity. The Panda demonstrates ease with the retractable charging cable emerging from the hood. Inside, the oval motif in places like the dashboard and seats recalls Fiat's original factory in Turin, the Lingotto building with the oval test track called the La Pista 500 on its roof. If you're looking for competition to the dashing little Renault 5 that did make the trek to Switzerland, this is it.