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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.

2020 Maserati Quattroporte S Q4 Drivers' Notes | Lost that loving feeling

The 2020 Maserati Quattroporte is the Italian brand’s flagship sedan. ThereÂ’s only one other Maserati sedan — the Ghibli — but the Quattroporte commands the big bucks with its blend of opulent luxury and performance, all topped off by a Ferrari-sourced engine. We drove the Quattroporte S Q4 in GranLusso trim, which is the less powerful and cheaper partner of the GTS. Since it's the GranLusso, it added silk-and-leather upholstery, heated and cooled seats, a chrome front fascia insert, 20-inch wheels and glossy black brake calipers. An impressive, high-tech 3.0-liter twin-turbocharged V6 engine lurks under the S Q4Â’s hood making 424 horsepower and 428 pound-feet of torque, both respectable numbers for a boosted six-cylinder. ItÂ’s paired with a ZF eight-speed automatic transmission thatÂ’ll send this big sedan from 0-60 mph in just 4.8 seconds. The all-wheel drive system is no slouch. It sends 100% of the power to the rear wheels in most driving conditions, but can quickly send as much as 50% of torque to the front wheels if it detects a loss of grip. It also has a limited-slip rear differential. At about 207 inches in length, thereÂ’s no disguising that the Quattroporte is a large car. ItÂ’s about the same size as a BMW 7 Series, Audi A8 or Mercedes-Benz S-Class sedan. When youÂ’re competing with those names, the standards for excellence tend to be off the charts. Of course, Maserati comes with its own expectations and standards of performance. This carÂ’s electrically-controlled adaptive dampers, Brembo brakes and unique exhaust note go a long way toward enhancing the driving experience, but read on to see what our editors think after spending a week in the driverÂ’s seat. Senior Editor, Green, John Beltz Snyder: Hearing the word “Maserati” evokes something. A sense of exotica and exclusivity, notions of performance and luxury, whiffs of elitism and maybe even envy. When people see a Maserati Quattroporte in person, very little of that happens. People will eye a Bentley, give a thumbs-up to a passing Porsche, and straight-up gawk at the right Jaguar. By contrast, no one seemed to notice this Maserati, be it on the highway or when parked next to them in the parking lot. I canÂ’t blame them. Its design doesnÂ’t really scream, well, anything. Under normal driving, the 3.0-liter V6 under the hood doesnÂ’t either. In Sport mode, though, the twin-turbocharged Ferrari-sourced engine raises its voice in a sonorous growl.

Stellantis announces ‘Circular Economy’ business to drive revenue, decarbonization

Stellantis has already announced its plans to reach net-zero carbon emissions by 2038. Today, the automaker has announced a new business unit to help it reach that goal while generating 2 billion euros per year in revenue by 2030. The “Circular Economy” business will help make revenue less dependent on finite, rare and ecologically problematic materials. The Circular Economy model features what Stellantis calls a “4R” strategy, comprising remanufacturing, repair, reuse and recycling. The goal is to make materials last as long as they can, reducing reliance on the acquisition of those precious new materials in the future by returning them to the business loop when theyÂ’ve reached the end of their first life. Through these processes, Stellantis says it can save up to 80% raw material and 50% energy compared to manufacturing a new part. Remanufacturing, or “reman” in Stellantis shorthand, means dismantling, cleaning and rebuilding parts to OEM spec. Nearly 12,000 remanufactured parts are available for customers to purchase. Some remanufacturing is done in-house, and some with partners and through joint ventures. Repair is pretty obvious — fixing parts to put back into vehicles. This also consists of reconditioning, to make a vehicle feel like new. Stellantis boasts 21 “e-repair” centers for repairing electric vehicle batteries.  Reuse refers to parts still in good condition from end-of-life vehicles sold as-is. Stellantis says it has 4.5 million multi-brand parts in inventory. These are sold in 155 countries through the B-Parts e-commerce platform. Reuse also refers second-life options, such as using batteries outside of automotive purposes. Recycling involves dismantling parts and scraps back into raw material form that is then looped back into the manufacturing process. Stellantis says it has collected 1 million parts for recycling in the past six months. Recycling doesnÂ’t get counted in that aforementioned 2 billion euros of revenue, but it does save the company money on acquisition of raw materials. As for batteries, specifically, Stellantis expects this recycling business to ramp up after 2030, when the packs currently in service begin to reach the end of their lifecycle. Stellantis will use its new “SUSTAINera” label to denote parts that are offered as part of its Circular Economy business.