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EV cost burden pushing automakers to their limits, says Stellantis' CEO Tavares

DETROIT — Stellantis CEO Carlos Tavares said external pressure on automakers to quickly shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle with EVs' higher costs. Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said. "There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost. Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said. Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm. "Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said. "The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits." Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade. Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from both establishment automakers such as GM, Ford, VW and Hyundai, as well as start-ups such as Tesla and Rivian. The latter electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the highly profitable Jeep and Ram brands. That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035.

Ferrari launches 2014 Formula One engine, tests it in a LaFerrari? [w/videos]

Ferrari is the last of the three engine manufacturers remaining in Formula One to reveal its 2014 power unit. Called the 059/3, like the Mercedes and Renault units it is a turbocharged, 1.6-liter V6 further boosted by an energy recovery system that is twice as powerful as before. The 2013 KERS was good for 80 horsepower, could power the car for six seconds and reduce a lap time by about 0.3 seconds. For 2014, the energy recovery system puts out 160 hp, powers the car for 30 seconds on full batteries and, according to Ferrari, can shave a massive three seconds per lap.
The car that surrounds this engine doesn't have a name yet - that will be chosen by Ferrari's social media followers in January from a selection of names provided by the Scuderia.
Ferrari didn't provide an audio sample of the power unit at its introduction, but a brief video taken at Fiorano has led folks to believe that the team has been testing the engine in a revised LaFerrari chassis. The clip shows a camouflaged version of the marque's new supercar fitted with a roof intake and sounding nothing at all like a V12 as it takes the hairpin and powers onto the straight.

Ferrari V6 hybrid said to arrive in May with as much as 723 horsepower

Ferrari has five debuts planned this year, one of which we've seen in the F8 Tributo. The next four will add to and update the mid-engined sports car range as well as the front-engined GT range. Car magazine thinks it has a bead on the long-awaited Ferrari six-cylinder engine that will sit in the middle of some new sports car definitely not named Dino. According to Car's sources, the 2.9-liter twin-turbo V6 works up 610 horsepower and 443 pound-feet of torque by itself. Given plug-in hybrid assistance and an e-motor between the engine and transmission, the numbers grow to 723 hp and almost 800 lb-ft. The magazine says there's also room for an e-motor powering the front axle "at a later stage." Since Ferrari CEO Louis Camillieri nixed the Dino name, it's said the moniker 486 could get a call-up when Ferrari reveals the powerplant, expected to happen in May. We just need to see where that engine is going to go, since the carmaker's V8 hybrid is also due this year, and also rumored for a May reveal. The V8 hybrid will fit inside a new flexible platform and power a mid-engined model above the 710-hp F8 Tributo in the range and more profitable than the 812Superfast. The F8 Tributo sits on a heavily updated version of the 488 platform, which itself was a heavily updated version of the 458 platform from 2009. The new mid-engined model will focus on track performance. Ferrari has confirmed that its new mid-mounted platform will be able to adopt the V6 family. The brand's SVP of commercial and marketing, Enrico Galliera, told Australia's WhichCar, "So the technology we are going to have, V12, V8, V6 turbo. Hybrid will give us the possibility to have a platform that we can mix to achieve emissions targets." Since the other three Ferrari debuts are predicted to be in the GT and ultra-luxe categories, it's possible the V6 will introduce an entry-level option for a model like the Portofino. Or it could grace a new, more traditional model. There's a new "front-engine hybrid architecture for host of new cars, including Purosangue SUV," the SUV not due now until 2022. Galliera also told WhichCar, "We are developing some products that are designed to give the same emotion as a Ferrari." They will be sports cars, "but with this design that it is more elegant that is more for everyday driving in order to attract those people that maybe are not considering to buy a Ferrari, because they are not willing to have a highly sporty car.