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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.

Lancia Ypsilon HF gets back to brand's rally racer heritage

At the end of 1992, Lancia walked away from the Martini-sponsored Delta HF Integrale 8V race car and the World Rally Championship a winner, drivers Juha Kankkunen and Didier Auriol delivering the Constructor's Championship. We haven't seen a racy factory-backed Lancia since, nor one that races. The dry spell is over, the Italians unveiling their new Ypsilon HF, the hot-hatch version of the standard Ypsilon, and a motorsports version for FIA Group Rally4. Starting with the street car, it gets the powertrain shared with the Alfa Romeo Junior Veloce, a single electric motor turning the front axle. Instead of the e-motor making 154 horsepower as in the standard Ypsilon, the Ypsilon HF makes 237 hp, shortening the dash to 62 miles per hour to 5.8 seconds, which is 2.9 seconds quicker than the plain Ypsilon.  Handling credentials get upgraded with a wider track and lowered suspension. The package is made to look the part with a sharper front fascia, the much larger lower intake bearing the HF logo and the side intakes getting black underlining. We haven't been given a view of the rear, but we expect there are flourishes there as well, perhaps even the large black bumper seen on the rally racer. A set of six-spoke wheels complete the attitude adjustment.     Because the World Rally Championship hasn't gone electric yet — and gave up on hybrids after just three years — the Ypsilon Rally 4 HF slides a 1.2-liter three-cylinder gas-powered mill up front. That engine sends 209 hp to the front wheels through a five-speed transmission and a limited-slip differential. A pair of hood scoops aid engine cooling, a roof scoop at the top of the windshield does the same for driver and co-driver. The white, 15-spoke wheels look back to the multi-spoke wheels on the Delta Integrale, and we'll be looking to the start line next year to see if the real racer gets Martini sponsorship. The way Lancia worded its press release, we suspect the Rally 4 car will also be pitched to privateers as "a serious candidate for drivers aspiring to victory in the R4 class and in the two-wheel drive championships." These two cars set the template for future HF makeovers already promised for the eventual Gamma crossover and reborn electric Delta. Another question we have, especially now that hybrids are taking the fore, is whether the Ypsilon with the mild-hybrid powertrain has a chance of getting the HF treatment.

Lancia Pu+Ra HPE concept combines the next 10 years of design and tech

The teaser campaign that started with a stylized sculpture last November culminates in this, the Lancia Pu+Ra HPE concept. This represents the long awaited — and perhaps overdue — reboot of a storied brand's design and tech vision for the next ten years. As such, designers packed so much of the past and the future that it's better to see the Pu+Ra as a combination of elements and philosophies coming to future Lancias instead of as a 1:1 template for how Lancias will look. There's also the matter of Lancia's sole market being Italy and tempered expansion from there taking place over a few years. That means a lot of what's here speaks loudest to the single market, which also happens to be the home market.  The HPE looks back to the 1970 Beta HPE shooting brake, when HPE stood for High Performance Estate. After Pu+Ra which mean Pure + Radical, those letters now stand for High Performance Electric and some impressive tech targets. Lancia wants a range of more than 435 miles on the WLTP cycle, battery efficiency of less than 10-kWh per 62 miles, and battery recharging times from 10% to 80% in ten minutes.   The big design strokes are simple geometric shapes, the light signature grille that doubles as a battery level readout, hollow round taillights a la the Stratos, the new Lancia logotype, and the new Lancia badge.     Inside, Lancia plans to create a "home feeling," similar to the 'living room space' characterization that often comes up in relation to autonomous vehicles. Lancia's called the tech component of this concept S.A.L.A., initials for Sound, Air, Light, and Augmentation that happen to spell the Italian word for living room, sala. No swiveling seats here, though. Interior designers worked with Italian furniture maker Cassina on fabrics and textures, resulting in a pair of deep bucket armchairs in wool cloth that look procured from a villa in Via Reggio. They're separated by an armrest that ends in a freestanding table. Elsewhere around the cockpit can be found sustainable wool, velvet, wood marquetry, door panels fabricated from marble dust, and nubuck leather produced without chrome tanning.  S.A.L.A.