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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.

NHTSA investigating 2015 Jeep Cherokee after new owner's total-loss fire [w/video]

The National Highway Traffic Safety Administration has opened a Preliminary Evaluation into the 2015 model year Jeep Cherokee after a single example caught on fire in California. This investigation will decide the cause, scope and frequency of this possible problem and will decide whether a recall is necessary for 50,415 potentially affected examples. According to Automotive News, the Cherokee's owner only purchased the CUV about two days before the fire, and it had been driven less than 100 miles. The new buyer reported parking the Jeep, and noticed a smell like smoke. Shortly after, the vehicle was consumed in flames. There were no injuries, but much of the incident was captured on video. NHTSA is also trying to decide whether another report is related. In this case, a driver noticed smoke under the hood of a 2015 Cherokee with just 45 miles on it, while driving at 60 miles per hour. According to the complaint to the agency, "the vehicle was not diagnosed or repaired," but FCA was notified. Read below NHTSA's announcement of the Preliminary Evaluation. CBS News 8 - San Diego, CA News Station - KFMB Channel 8 INVESTIGATION Subject : Engine compartment fire Date Investigation Opened: JAN 13, 2015 Date Investigation Closed: Open NHTSA Action Number: PE15003 Component(s): ENGINE Vehicle Make Model Model Year(s) JEEP CHEROKEE 2015 Manufacturer: Chrysler (FCA US LLC) SUMMARY: The Office of Defects Investigation (ODI) has received one complaint (VOQ) of engine compartment fire in model year (MY) 2015 Jeep Cherokee vehicles alleging a severe engine compartment fire incident resulting in a total vehicle loss (VOQ # 10672201). The consumer alleges that the entire vehicle was engulfed in flames approximately 20 feet high within seconds of parking the vehicle. The complaint alleged white smoke coming from under the hood immediately after parking the vehicle and while the ignition is off. In addition, ODI has identified field report data submitted as part of Early Warning Reporting that relate to the alleged defect. A Preliminary Evaluation has been opened to assess the cause, scope and frequency of the alleged defect. The following VOQ numbers are associated with the issues discussed in this opening resume: 10670034, 10672201.

Cadillac CTS-V and Suzuki e-Survivor | Autoblog Podcast #527

This week, Editor-in-Chief Greg Migliore is joined by General Manager Adam Morath. They discuss driving the Cadillac CTS-V and talk about the Suzuki e-Survivor concept. Other news includes possible Jaguar Land Rover acquisitions, the Jeep Grand Cherokee Trackhawk and the Autoblog Car Finder. Autoblog Podcast #527 Your browser does not support the audio element. Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Topics and stories we mention Rundown Jaguar Land Rover acquisitions? Suzuki e-Survivor concept Tesla Model 3 Autoblog Car Finder tool Jeep Grand Cherokee Trackhawk Cadillac CTS-V What we've been driving: Jaguar F-Pace Ken Block's "Climbkhana" Spend my money Feedback Email – Podcast at Autoblog dot com Review the show on iTunes Green Podcasts Cadillac Jaguar Jeep Suzuki Electric Performance Videos Sedan jaguar land rover