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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.

The Maserati MC20's new Nettuno V6 is a high-tech showpiece

It's been more than two decades since Maserati was in the business of developing an in-house 90-degree V6 engine, and the last one it had traced its genealogy back 30 years. That story started in 1968, when Citroen took a controlling stake in Maserati, and the French requested that the Italians create an engine for the 1970 Citroen SM. Famed Maserati engineer Giulio Alfieri designed a 2.7-liter V6 producing 170 horsepower that could be built using Maserati's existing V8 tooling, hence the 90-degree angle. Alfieri then revised that V6 and bored it out to three liters, upping output to 187 hp, for use in the 1972 Maserati Merak. A decade later, Maserati – now owned by Alejandro de Tomaso, who had fired Alfieri — started with Alfieri's V6 philosophy when developing a mill for a new sports car. The resulting V6 unit, in 2.0-, 2.5-, and 2.8-liter displacements, was the first twin-turbocharged motor put into a production car. That car? The hot, gorgeous mess known as the 1984 Maserati BiTurbo. Almost 10 years on, the 1992 Maserati Ghibli II would get a 2.0-liter version of this 90-degree V6 making 306 horsepower. The 1995 Ghibli Cup turned that mill up to 330 hp, crowning the 2.0-liter V6 as the most power-dense engine in a production car, surpassing 1990s icons like the Jaguar XJ220 and original Bugatti EB110 (both 155 horsepower per liter). When the Ghibli exited production in 1998, Maserati ceded engine development duties to Ferrari by order of Fiat, which owned both automakers. 2022 Maserati MC20 View 47 Photos Nettuno, the new beating heart of Maserati Now we have the Nettuno, a 90-degree 3.0-liter V6 created to power Maserati's renaissance and making its debut in the chunky, aerodynamic form known as the MC20. At 630 horsepower and 538 lb-ft of torque, the engine almost picks up where the Ghibli Cup left off: with 210 horsepower/liter, the Nettuno is one of the most power-dense in the world. The Bugatti Chiron, Ford GT, and McLaren 756LT don't crack 200 hp/l. The only production cars in the ballpark are Euro specials like the Mercedes-AMG A45 (208.4 hp/l). Beyond it are seven-figure hypercars like the SSC Tuatara (229 hp/l) and Koenigsegg Jesko (256 hp/l on gas, 320 hp/l on E85). The word we're looking for in Italian is bentornato. Welcome back, Maserati.

Maserati recalls 26k sedans for rear suspension failure

The Basics: Maserati is recalling all 26,464 examples of the 2014-16 Quattroporte and Ghibli sedans it manufactured between February 1, 2013, and September 18, 2015 and sold or leased to customers in the United States. The Problem: The bolt securing the tie-rod to the hub carrier assembly in the rear suspension may not have been properly tightened during manufacturing, which could cause the suspension to fail and the driver to lose control of the vehicle. Injuries/Deaths: The manufacturer reports that it is unaware of any accidents or injuries to have resulted from this issue. The investigation was prompted by reports of excessive noise. The fix: Dealers will check the bolts in question and replace the hub carrier assembly if necessary. If you own one: Look out for a letter from the manufacturer to arrange service at your local dealer. Related Video: RECALL Subject : Improperly Torqued Rear Tie Rod Bolt Report Receipt Date: MAY 02, 2016 NHTSA Campaign Number: 16V264000 Component(s): SUSPENSION Potential Number of Units Affected: 26,464 Manufacturer: Maserati North America, Inc. SUMMARY: Maserati North America, Inc. (Maserati) is recalling certain model year 2014-2016 Quattroporte and Ghibli vehicles manufactured February 1, 2013, to September 18, 2015. During the assembly process, the rear tie-rod to hub assembly attaching bolt may not have been properly tightened. CONSEQUENCE: An improperly tightened rear tie-rod to hub carrier assembly attaching bolt may allow the tie-rod to separate from the hub carrier, resulting in a loss of control, increasing the risk of a crash. REMEDY: Maserati will notify owners, and dealers will inspect the left and right rear tie-rod to hub carrier assembly attaching bolts to verify that they are properly tightened, replacing the rear tie-rod to hub carrier assembly as necessary, free of charge. The recall is expected to begin on July 1, 2016. Owners may contact Maserati customer service at 1-201-510-2369. Maserati's number for this recall is 303. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. Featured Gallery 2014 Maserati Quattroporte S Q4: First Drive View 31 Photos News Source: National Highway Traffic Safety AdministrationImage Credit: Copyright 2016 AOL Recalls Maserati Luxury Performance Sedan maserati ghibli