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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.

Audi gets Q2 and Q4 badges in trademark swap with FCA

Audi has swapped trademarks with Fiat Chrysler Automobiles to snare the rights to the Q2 and Q4 badges for upcoming crossover SUVs. Audi CEO Rupert Stadler confirmed at the Detroit Motor Show that the automaker had finally persuaded FCA to release the two names that would let Audi lock up the Q1 to Q9 badges for its growing SUV family. Audi already plans to drop the Q2 name onto its MQB-based city crossover five-door this year, while the Q4 badge will slot onto the rump of a coupe-like version of the next Q3. It will also reserve the Q1 badge for a 2018 baby crossover, based around the architecture of the next A1 hatch. The A1 will share a lot of its engineering with Volkswagen's Polo-based soft-roader, dubbed T-Cross in concept form. The German company has also pounced on the naming rights for SQ versions of all of its Q-cars, along with F-Tron to cover the day when it pushes hydrogen fuel cell cars into production. Stadler insisted that no money had changed hands in order to pry the two badges off FCA, admitting that they had "each found something we needed." "We promised each other we wouldn't disclose what it cost, but it was not something they were willing to sell," Stadler said. "We tried to get it years ago and they said 'No, never,' but there is never 'never' in business. ... This year I went back to them with a proposal and we talked and there were some negotiations and then we agreed to it." Those negotiations are believed to have centered on a trademark swap with a Volkswagen Group name that FCA desperately (evidently) wants to use on a Fiat, Alfa Romeo, Chrysler, Dodge or Maserati. Asked if Audi had given FCA a trademark in return for Q2 and Q4, Stadler replied, "Something very much like that, yes." Audi has used Italian names on past concept cars that FCA could be interested in, such as the 2001 Avantissimo concept and the 2003 Nuvolari coupe. The latter was named after legendary pre-war racer Tazio, who won grands prix for both Alfa Romeo and Audi's forerunner, Auto Union. Both are unlikely trade chips, with laws in Europe preventing the trademarking of the names of actual people. There is always "quattro" (Italian for "four"), but after investing nearly four decades locking it in as an Audi all-wheel-drive name, it's just not anything like trade bait.

2019 Maserati Levante Trofeo Drivers' Notes Review | A mixed bag

The first thing you need to know about the 2019 Maserati Levante Trofeo is that it's the most powerful vehicle Maserati currently makes, outgunning models like the GranTurismo and Quattroporte GTS by a good margin. In fact, the only production Maserati more powerful than the Levante Trofeo was the V12-powered MC12 Versione Corse. The Trofeo's 3.8-liter twin-turbo V8 is built by Ferrari and shares more than a little with that company's current crop of V8 engines. The biggest difference is that this engine uses a cross-plane crankshaft in place of Ferrari's flat-plane crank as well as a wet sump oiling system. The Trofeo hits 60 mph in just 3.7 seconds on its way to a top speed of 187 mph. The styling is more aggressive than the already bold Levante GTS thanks to 22-inch wheels, carbon fiber trim and a new hood with vents to help cool the engine. Inside the cabin, nearly every surface is covered with leather and carbon fiber. Now, all this comes at a cost. The Levante Trofeo starts at $169,980, $39,000 more than a Levante GTS and more than twice as much as a base model. You're mostly paying for performance and styling since most of the features on our tester like the upgraded leather upholstery and four-zone climate control can be found on lesser Levantes. Editor-in-Chief Greg Migliore: Ferrari is ending its deal to supply engines to Maserati. That's a shame — for Maserati. The 3.8-liter twin-turbo V8 in the Levante Trofeo is a riot, and it gives this golden-retriever-hauling crossover the feel of a true Italian sports car. You might know this engine from the Ferrari Portofino. It's lightly modified and built on the same line in Maranello, Italy. Mash the gas and this thing emits a growl that grows more guttural as the revs build. It sounds pretty good at 3,000 to 4,000 rpm, which is about all you can sensibly summon in the suburbs. I've driven the twin-turbo V6, which is also solid and also supplied by Ferrari, but trust me, you want the V8. The rest of the Levante is attractive, though it's not the most practical thing around. I was able to get a rear-facing car seat in the back, and my toddler certainly enjoyed his first ride in a Maserati. Other thoughts: I like the elevated ride height, toothy grille and curvy fenders. The Levante is a compelling option in this expensive segment designed for Rich Uncle Pennybags. If that's you, don't scrimp with six cylinders. Go with the V8.