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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.

Marchionne: FCA, but not Ferrari, interested in Formula E

It seems like automakers have been clamoring to get on board with Formula E lately. In just the last few weeks a number of manufacturers have either become more directly involved, or otherwise announced entry into the series in coming years. That includes Audi, BMW, Mercedes-Benz and Porsche, with the latter two abandoning other series to join the electric one. Now, FCA CEO Sergio Marchionne says his company might join Formula E as well, according to Motorsport. Previously, Marchionne had toyed with the idea of bringing Ferrari into the Formula E field, but now says that would be unlikely. Instead, he thinks an FCA brand would be a better fit, perhaps Alfa Romeo or Maserati. At the moment, Maserati seems like the best fit, as Marchionne just announced that the brand would electrify its entire lineup after 2019, with each car it sells having either a hybrid or electric powertrain. Fans would probably be excited to see Maserati return to racing, and Formula E would be a good test laboratory for the development of electric propulsion technology. Still, another brand could represent FCA in Formula E, and apply the knowledge learned there to its vehicles, as Marchionne says half of the FCA fleet will be electrified by the end of the company's five-year plan ending in 2022. Marchionne said that while Ferrari won't be directly involved, he doesn't know which FCA brand – Alfa Romeo, Dodge, Chrysler, Fiat, or Maserati – would enter. As interesting as an electric Dodge race car would be, it seems unlikely, especially because of, well, Maserati. We're hoping it's Jeep, though. Related Video: News Source: MotorsportImage Credit: ALBERTO PIZZOLI/AFP/Getty Images Green Alfa Romeo Ferrari Maserati Green Culture Electric Racing Vehicles Sergio Marchionne FCA Formula E

Barbie-themed Maserati Grecale Trofeo: Stick that in your dream house

A new live-action Barbie movie is coming, which means brand collaborations across several industries. The car-crazy Barbie world is teaming up with Maserati and Neiman Marcus to create a one-off Grecale Trofeo SUV with so much pink that the Mary Kay paint factory may be running low for a while.  As a whole, the Barbie universe is incredibly car-friendly and has featured some iconic models over the years, including Corvettes, a 911, a Ferrari, and various Jeeps. Maserati’s hoping to get on that list with its new Grecale Trofeo SUV. The automaker partnered with Neiman Marcus on the car as part of its Fantasy Gift Launch and to celebrate the release of the new Barbie movie. Only one Grecale Trofeo will be available in the United States as part of the promotion (did they think that's all they could sell?). Like other Trofeos, it uses the 530-horsepower V6 Nettuno engine from the MC20 and features the classic Barbie pink exterior colors. Logos and other graphics accent the loud exterior color. Inside, the black interior features full leather upholstery and leather covering the dash, doors, and other components. The seats feature pink “B” stitching. Maserati and Neiman Marcus estimate the value of the SUV at $330,000. Ten percent of the sales will go to the Barbie Dream Gap Project, so this is more than a vanity project for Maserati and the department store chain. We donÂ’t know much about the other cars that will make appearances in Margo RobbieÂ’s upcoming Barbie remix, but the movieÂ’s teaser poster shows her driving a C1 Corvette with what appears to be a charging port door. An electrified first-generation Corvette would make waves, but even something as unique as that will have a hard time competing with the Grecale for attention. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.