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Stellantis earnings rise along with EV sales

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.

Jeep bringing Renegade Hard Steel with adorable matching trailer to Geneva

Trailers are hardly an uncommon site. They can, after all, be an effective way of adding cargo capacity when you need to haul more than you can fit in your car and truck. But there's something that just gets us about trailers made to match the vehicle behind which they're being towed. Like this one, attached to this unique Jeep Renegade. Set to be unveiled at the Geneva Motor Show mere days from now, the Renegade Hard Steel concept is a joint effort between various elements of the Fiat Chrysler Automobiles group, including Jeep, Mopar and the FCA Style Centre. It's based on the Trailhawk off-road model, but is distinguished by its unique metallic finish, offset by matte black trim and a full raft of available and custom Mopar accessories. Though Jeep has yet to show us what it looks like inside, it's said to have a specially coated leather finish. And of course there's that trailer. Designed to mimic the Renegade's rear-end styling, the appendage will be used on the floor of the Geneva Palexpo to showcase the vehicle's Uconnect Live infotainment system through an oversized pop-up touchscreen display that mirrors the new 5- or 6.5-inch display that'll soon be available on the littlest of Jeeps, offering streaming content including music, news, social media and traffic conditions. We have no indication that a similar trailer could be going into production (minus, of course, the infotainment stuff), but it's worth noting that Jeep has indeed done something similar before. Feel free to read more in the press release, below. Related Video: 27 February 2015 Renegade Hard Steel Jeep Showcar The Renegade Hard Steel Jeep showcar, which blends style, off-road vocation, and technology, will be making its debut and the 2015 Geneva International Motor Show. Created by the Jeep brand, in collaboration with the Mopar brand and backed by the FCA Style Centre, the showcar "explores" the potential of a model that provides countless customization options, while also providing an outlook for potential future Mopar accessories dedicated to the new Renegade. Based on the Trailhawk - the off-road version of the range - the prototype is not a simple customisation in aftermarket but a design project that, with due respect to the peculiarities of original models, has led us to the creation of a unique and fascinating article.

Autoblog Minute: FCA hit with record fine, issues recall and buyback

FCA, found in violation of the Motor Vehicle Safety Act, agrees to buyback recalled models as part of record penalties issued by National Highway Traffic Safety Administration. The cars in question are more than half a million Chrysler vehicles with defective suspension parts that could cause cars to lose control, and more than a million Jeeps that are prone to deadly fires. Autoblog's Eddie Sabatini reports on this edition of Autoblog Minute, with expert commentary from Pete Bigelow. Show full video transcript text [00:00:00] FCA faces record penalties as the National Highway Traffic Safety Administration finds the automaker in violation of the Motor Vehicle Safety Act. I'm Eddie Sabatini and this is your Autoblog Minute. Penalties for the automaker include submitting to increased government oversight, a hundred and five million dollar civil penalty, as well as, mandates to buy back defective vehicles from owners and payment for repairs. The cars in question are [00:00:30] more than half a million Chrysler vehicles with defective suspension parts that could cause cars to lose control, and more than a million Jeeps that are prone to deadly fires. Autoblog's Pete Bigelow discussed the NHTSA findings with us. [00:01:00] [PETE BIGELOW INTERVIEW] This fine and buyback recall, combined with the 1.4 million vehicles recalled over remote hacking concerns makes for a rough couple of weeks for FCA. For Autoblog, I'm Eddie Sabatini. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.