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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.

Recharge Wrap-up: DIY Tesla charging arm, Tesla vs. Maserati smackdown

A Tesla Model S owner built his own version of an automatic charging arm. Assumingly inspired by the creepy, snake-like prototype Tesla previewed a while back, Deepak Mital's autonomous robot – which he calls the Evtron – finds the plug on his Model S and connects the cable to begin charging. Mital says he plans to open source his design once he's finished. It may not be as "sensual" as Tesla's prototype, but people are less likely to flee it in terror. See the Evtron in action in the video above, and read more at Electrek. A Maserati dealership has taken down a comparison between the Ghibli and the Tesla Model S after a thrashing from the EV community. First of all, the Tesla corner pointed out that the listed price of the Model S 60 at $89,320 is misleading, as the current model starts at $66,000 (a loaded 2015 could be optioned up to the price stated by Maserati, but to call that a fair comparison to the $69,800 Ghibli is highly debatable). Other, older Tesla specs also angered the EV supporters. After a Reddit post and a subsequent backlash toward Maserati of Kirkland, the dealership removed the comparison from its website. Read more at Electrek. A new report predicts that the EV charging system market will generate $8.02 billion by 2022. The report from Allied Market Research, titled "World Electric Vehicle Charging System Market," says that the market will see a CAGR of 30.7 percent from 2016 to 2022. In terms of region, Europe will dominate the market, and home charging systems will outpace public chargers. Forces like unstable fuel prices and government programs to reduce carbon emissions will spur EV sales, which, in turn, will boost the market for charging systems. Read more in the press release below. Electric Vehicle Charging System Market is Estimated to Generate $8.02 Billion by 2022 A new report by Allied Market Research titled, "World Electric Vehicle Charging System Market", forecasts that the world electric vehicle charging system market would generate revenue of $8.02 billion by 2022, registering a CAGR of 30.7% during the forecast period, 2016-2022. In 2015, Europe was the highest revenue-generating region owing to the increasing penetration of home and commercial charging systems in countries such as the Netherland, Denmark, UK and France.

2025 Maserati GranCabrio Folgore is the third flash of Modena lightning

The debut of the 2025 Maserati GranCabrio Folgore completes Maserati's initial trio of battery-electric offerings, the Atlantis High powertrain in this car complementing the Nettuno V6-powered GranCabrio Trofeo that Maserati debuted in February. The first of its kind, the GranCabrio Folgore establishes the six-figure, four-seat, battery-electric luxury grand tourer convertible segment until something like an electric Porsche 911, Mercedes-AMG SL, or reborn Jaguar XKR comes along. At speeds of up to 31 miles per hour, the roof available in five colors folds in 14 seconds and raises in 16. With the top up, trunk space shrinks from the coupe's 9.5 cubic feet to 6.1 cubic feet. Stow the top, there are 4.6 cubic feet available for soft-sided bags. Neck warmers built into the seats come standard, a wind blocker lives on the options menu.   Built around the same 92.5-kWh (83 kWh usable) T-shaped battery and three-motor drivetrain as on the GranTurismo Folgore, maximum output differs from actual output: Each motor can produce 402 horsepower and 332 pound-feet of torque, but the full 1,206 hp needs to wait on stouter battery options. With today's chemistry, Maserati engineers decided to restrain combined output to 751 hp and 996 lb-ft., with even that figure only unlocked in Corsa mode with launch control. The catapult shot to 60 miles per hour is estimated at about 2.7 seconds; top speed is 180 miles per hour.      Shoppers will get a choice of six wheels in staggered 20-inch front and 21-inch rear sizes. Two of those wheel designs are aero-focused and wrapped in EV-specific rubber. Maserati gave a WLTP estimated range of up to 278 miles on a charge, an EPA-rated estimate of 250 miles, which would be on the aero options. Plugging into a DC fast charger capable of 270 kW is said to replenish the battery from 20% to 80% in 18 minutes, and add 62 miles in five minutes.  The interior's a mix of reborn Maserati and the special touches applied to the hardtop electric sibling, meaning the quartet of digital displays (gauge cluster, infotainment, HVAC, and clock), 18-way front seats in recycled Econyl or leather, 16-speaker Sonus Faber audio, and carbon fiber trim inlaid with copper filaments. The automaker's also giving owners a wallbox with purchase, and has hooked up a single-pay system to use a range of chargers from different infrastructure companies. Order books open in August, and Maserati anticipates deliveries beginning in Q4 this year.