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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.

Bid on the incredible George Barris Supervan in Scottsdale

Barrett-Jackson's upcoming Scottsdale, AZ, auction features the groovy Barris SuperVan, which came from the mind of car customizing legend George Barris. He even autographed the interior. Passengers enter the SuperVan through the hinged windshield, and once inside they can party in style thanks to the roof-mounted disco ball. However, occupants can't get too wild because the massive side windows don't leave much room for privacy. Barris built the van around a 1966 Dodge Tradesman A-100 with a three-speed manual gearbox and a 318-cubic-inch V8. Barris originally called the van the "The Love Machine," and it later had quite a Hollywood career. Its on-screen appearances included the '70s movie SuperVan, and a repainted version served as a Hill Valley Transit bus in Back to the Future II. After his passing at age 89 last year, Barris' creation might see a further boost in value. Barrett-Jackson doesn't offer a price estimate for the SuperVan, but we can't wait to see what this groovy vehicle sells for with no reserve. Collectors already valued Barris' work before his death. For example, his 1960s Batmobile, which was likely Barris' most famous creation, went for $4.62 million at a Barrett-Jackson auction in 2013. Related Video: Lot #1306 1966 DODGE TRADESMAN A-100 BARRIS CUSTOM SUPERVAN Auction Scottsdale 2016 Reserve NO RESERVE Status Available Price Request Bidder Info Lot 1306 Location Tent 7 B - 1 Year 1966 Make DODGE Model TRADESMAN A-100 Style BARRIS CUSTOM SUPERVAN *Includes Buyer Commission Details VIN 24653301 Exterior Color RED/BLUE/SILVER Interior Color RED/BLUE Cylinders 8 Engine Size 318 Transmission 3-SPEED MANUAL Description Lot #1306 - Originally designed by George Barris as "The Love Machine" and reincarnated by Barris for the movie "SuperVan." It was used for many movies and TV shows after that, such as the Hill Valley Transit bus in "Back to the Future II," "Sea Quest" and the 1970 movie "Solar Crisis." The van has been completely restored to its "SuperVan" look and has since been signed by George Barris. Manual transmission. Featured Gallery Barris SuperVan Auction News Source: Barrett-Jackson Dodge Auctions Minivan/Van Special and Limited Editions Classics george barris barris

Weekly Recap: Toyota propels hydrogen fuel cells

Toyota is serious about hydrogen fuel cells, and it wants the auto industry to follow suit. The Japanese automaker said this week it's releasing 5,680 fuel cell patents from around the world, including technologies used on its upcoming sedan, the 2016 Mirai. The move is unusual, but not unprecedented, as Tesla similarly released its electric vehicle patents last year. The idea for Tesla, and now for Toyota, is to spur development of alternative propulsion. "By eliminating traditional corporate boundaries, we can speed the development of new technologies and move into the future of mobility more quickly, effectively and economically," said Bob Carter, Toyota Motor Sales senior vice president of automotive operations, in a statement. Toyota's fuel cell patents will be free to use through 2020, though patents related to producing and selling hydrogen will remain open forever. Toyota said it would like companies that use its patents to share their own hydrogen patents, but won't require it. "What Toyota's doing is really a logical move, and really a good move for the industry," Devin Lindsay, principal powertrain analyst with IHS Automotive, told Autoblog. The announcement was made at the Consumer Electronics Show in Las Vegas. It comes as Toyota prepares to launch the hydrogen-powered Mirai in a limited number late this year in California. The launch will be extended to the Northeastern United States next year. Toyota also has announced plans to support networks of fueling stations in each region to try to smooth consumer adoption. The Mirai has a 300-mile range on a tank of hydrogen, and it takes about five minutes to refill. Fuel cells have been receiving increased attention recently, and Audi and Volkswagen debuted hydrogen-powered cars at the 2014 Los Angeles Auto Show. Honda, another proponent of the technology, also showed its updated FCV concept in November in Japan. The company, however, has delayed its fuel cell sedan a year until 2016. Like Toyota, Honda says its hydrogen-powered car will have a range of 300 miles or more. Meanwhile, Hyundai currently offers leases for fuel-cell powered Tucsons, which have a 265-mile range, in Southern California. Despite the optimism some automakers have for fuel cells, the technology still faces barriers. A lack of filling stations has long held it back, and many consumers are not familiar with the potential benefits.