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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.

Maserati details the new, 630-hp V6 that will power its mid-engined MC20 coupe

Maserati is done leaning on former sister company Ferrari for technical support. It has unveiled the six-cylinder engine it designed and will build in-house to power the MC20 supercar that's scheduled to make its debut later in 2020. Ferrari's willingness to develop and/or build engines for Maserati shrank significantly when it split from former parent company Fiat-Chrysler Automobiles (FCA) in early 2016 and became independent. Insiders knew the division would be spun off, so they began designing Maserati's new engine (which is called Nettuno) in 2015 and accelerated the process in 2017. It's a 90-degree, 3.0-liter V6 with a dry sump and a twin-spark, pre-chamber ignition system rooted in racing. In this application, it's twin-turbocharged (the turbos are mounted on the outside of the engine rather than in the middle of it) and it's equipped with both direct and indirect fuel injection.  All told, the 485-pound Nettuno engine develops 630 horsepower at 7,500 rpm and 538 pound-feet of torque between 3,000 and 5,500 rpm. It continues revving to a redline of 8,000 rpm.  Matteo Valentini, Maserati's chief engineer, explained the Nettuno engine will ultimately power the company's entire range of vehicles, though he stopped short of naming the specific models that will use it after the MC20. He added the six-cylinder will "bring Maserati back into the world of racing," meaning its output will likely grow in the not-too-distant future. We'll learn more about the engine when the MC20 makes its debut September 9. What remains to be seen is whether Maserati will replace the V8 available in the Levante and the Quattroporte, or if it will surf the downsizing wave sweeping across the industry. Developed jointly with Ferrari in the early 2010s, that engine makes 590 horsepower when it's bolted in the Levante Trofeo's bay, meaning its output is eclipsed by the Nettuno V6's. Both engines are built around a 90-degree architecture, so the 3.0-liter V6 could turn into a 4.0-liter V8 if it's modular enough to gain a pair of cylinders — and if Maserati sees a market for another eight-cylinder. Featured Gallery Maserati Nettuno 3.0-liter V6 engine Maserati Coupe Performance

Maserati orders triple on strength of Quattroporte demand in China

Considering Maserati sold all of 6,300 cars globally in 2012, its goal of selling 50,000 by 2015 seemed like a bit of a stretch to say the least, but it turns the Fiat-owned automaker was on to something. Reuters is reporting that Maserati has already received about 17,000 orders for cars this year, with help from the new 2014 Quattroporte and strong demand in China.
The US continues to be the top market for Maserati sales, but the report quotes Harald Wester, brand chief executive, as saying that China is now the top market for Quattroporte. As big of an improvement as this is it bears mentioning that the Ghibli isn't even on sale yet and the Levante SUV, a redesigned GranTurismo and a new 911-fighting coupe are still waiting in the pipeline.