1972 Lancia Fulvia 1.3s on 2040-cars

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Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

Stellantis and LG launch joint venture for North American battery plant

Stellantis has struck a preliminary deal with battery maker LG Energy Solution (LGES) to produce battery cells and modules for North America, as the world's No. 4 automaker rolls out its 30 billion euro ($35 billion) electrification plan. Global automakers are investing billions of euros to accelerate a transition to low-emission mobility and prepare for a progressive phase-out of internal combustion engines. Stellantis and LGES's joint venture will produce battery cells and modules at a new facility with an annual capacity of 40 gigawatt hours (GWh), the two firms said on Monday. No financial details of the deal were provided. The plant is scheduled to start production by the first quarter of 2024, with groundbreaking expected in the second quarter of 2022, the companies said in their statement. Its location is under review and will be announced later. Stellantis, formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, has said it wants to secure more than 130 GWh of global battery capacity by 2025 and more than 260 GWh by 2030. The batteries produced under the deal will supply Stellantis' U.S., Canadian and Mexican assembly plants for installation in hybrid and fully electric vehicles, supporting its goal of e-vehicles making up more than 40% of its U.S. sales by 2030. The company, whose brands include Peugeot, Fiat, Opel and U.S. best-sellers Jeep and Ram, earlier this year announced it would invest more than 30 billion euros through 2025 on electrifying its vehicle lineup. Stellantis has said it would build three battery plants in Europe and two in North America, including at least one in the United States. Intesa Sanpaolo analyst Monica Bosio said the deal was positive, and a further step ahead in Stellantis' electrification process. It comes weeks after Stellantis and its partner TotalEnergies agreed to open up their battery cell joint venture ACC to Daimler, to expand their European sourcing of battery cells. Stellantis is also targeting more than 70% of sales in Europe to be of low-emission vehicles by 2030, and aims to make the total cost of owning an EV equal to that of a gasoline-powered model by 2026. Related video: Green Plants/Manufacturing Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Maserati RAM Citroen Lancia Opel Peugeot Vauxhall Electric Hybrid EV batteries LG

Maturo Stradale another sweet Lancia Delta restomod

On the one hand, what we have here is (yet) another vintage World Rally Championship Lancia restomod. On the other hand, we just haven't (yet) got tired of vintage WRC Lancia restomods. This one hails from The Netherlands, quite a bit further north than the Swiss and Italian takes we've seen so far. A company called Maturo Competition Cars in Veghel, which specializes in prepping old Delta Integrales for rallying, decided to work up a Delta HF Integrale 16v in the manner of the Group A cars that won WRC Manufacturer's Championships in 1990 and 1991. The trio of men behind it decided they wanted to stay close to the feel of the original in order to provide a similar driving experience — with more horsepower, naturally — built with far more reliable and luxurious components.  The hatchback now known as the Maturo Stradale starts with a Delta HF Integrale in serviceable condition. The chassis is stripped, then sandblasted. Welders install a full custom roll cage and add spot welds in 250 places, increasing rigidity. These much stronger bones are then primered and repainted for corrosion resistance.   While all that's being done, the 2.0-liter four-cylinder goes in for an even greater overhaul. The Group A Lancias made about 200 horsepower. Upgrades bolt on a larger carbon airbox, rebuilt Garrett turbo, larger intercooler, upgraded injectors and fuel system, new wiring harness and reprogrammed motorsports ECU. New internals include forged rods and pistons, and lighter valves. There's a thicker timing belt, and the balance shafts are gone. Peak boost climbs from 1.2 bar to 1.8 bar, upping peak power to about 355 hp. The company says the engine "Will deliver a completely reliable 380 hp or more and more than 550 Nm [405 lb-ft] of torque.” The original five-speed gearbox is rebuilt with stronger gears, and can be further revised with straight-cut gears in a dogleg pattern for power shifting. The original Deltas went without a locking front diff, making do with a Ferguson viscous center diff and a Torsen rear differential. Maturo puts in a new viscous center differential and mechanical locking diffs on both axles, meshed with driveshafts formed from an alloy created for Formula 1 cars that can endure angles of up to 40 degrees without deformation.  The four-way adjustable suspension derives from the firm's rally-spec cars, and can be enhanced with a hydraulic ride height control system.