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Stellantis says its 2021 performance has been better than expected

MILAN — Stellantis softened up investors ahead of its electrification strategy event on Thursday by flagging that 2021 got off to a better-than-expected start despite a chip shortage that has hit automakers worldwide. Stellantis, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, faces an investor community keen to hear how it plans to come up with a range of electrified vehicles (EVs) to rival Tesla. At its "EV Day 2021" kicking off at 1230 GMT, Stellantis will disclose significant investments in electrification technology and connected software as it aims to be an industry frontrunner, it said in a statement. In April, Chief Executive Carlos Tavares said it would offer low-emission versions — either battery or hybrid electric — of almost all of its European models by 2025, and they should make up 70% of European sales and 35% of U.S. sales by 2030. Stellantis, the world's fourth-biggest automaker, has 14 brands in its stable, including Jeep, Ram, Opel, Fiat, Peugeot and Maserati.   Stellantis EV Day coverage: Dodge will launch the 'world's first electric muscle car' in 2024 Fully electric Ram 1500 will begin production in 2024 Jeep will have 4xe plug-in hybrid models across the lineup by 2025 Stellantis teases mystery electric Chrysler concept Stellantis previews 4 electric platforms: Here's how they'll be used Fiat says all Abarth models to be electric from 2024 Opel Manta E will be the electric revival of the classic German coupe Stellantis says its 2021 performance has been better than expected   At a similar EV strategy event last week, French rival Renault announced that 90% of its main brand models would be all-electric by 2030, whereas previously it had included hybrids in its target. Germany's Volkswagen, the world's second-biggest automaker after Toyota, expects all-electric vehicles to make up 55% of its total sales in Europe by 2030, and more than 70% of sales at its Volkswagen brand. Stellantis said its margins on adjusted operating profits in the first half of 2021 were expected to exceed an annual target of between 5.5% and 7.5%, despite production losses due to a global shortage of semiconductor supplies. Stellantis shares listed in Milan were down 2.6% at 0920 GMT, underperforming the broader European car index. Bestinver analyst Marco Opipari said Thursday's news was positive but that the stock was suffering from profit taking as it had moved up about 20% since the end of April.

2023 New York Auto Show Mega Photo Gallery: See all the new cars from the show

The 2023 New York Auto Show was a rather lively show full of North American vehicle debuts and a lot of new metal we’ve never seen before. As always, we were on the ground covering it from every angle for you, including photographing all the reveals on the show floor. There were a ton of new EVs shown and even a stunning concept with the Genesis GV80 Coupe Concept. YouÂ’ll be able to see them all, from the production Ram REV to the little (but now much bigger) Kona, in the numerous galleries below.   2024 Kia EV9 2024 Kia EV9 View 7 Photos 2024 Kia EV9 GT-Line 2024 Kia EV9 GT-Line View 5 Photos 2025 Ram REV 2025 Ram 1500 REV View 6 Photos Genesis GV80 Coupe Concept Genesis GV80 Coupe Concept View 9 Photos 2024 Hyundai Kona Electric, N Line and Limited 2024 Hyundai Kona Electric View 21 Photos 2024 Jeep Wrangler 2024 Jeep Wrangler 4xe View 22 Photos 2024 Subaru Crosstrek Wilderness 2024 Subaru Crosstrek Wilderness View 14 Photos 2024 VW Atlas Peak Edition 2024 VW Atlas Peak Edition View 7 Photos Hyundai Ioniq 5 Disney100 Platinum Concept Hyundai Ioniq 5 Disney100 Platinum Concept View 9 Photos   Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Genesis GV80 Coupe Concept is coming to reality

Vile Gossip: Ladies who launch

Jean Jennings has been writing about cars for more than 30 years, after stints as a taxicab driver and as a mechanic in the Chrysler Proving Grounds Impact Lab. She was a staff writer at Car and Driver magazine, the first executive editor and former president and editor-in-chief of Automobile Magazine, the founder of the blog Jean Knows Cars and former automotive correspondent for Good Morning America. She has lifetime awards from both the Motor Press Guild and the New England Motor Press Association. Look for more Vile Gossip columns in the future. The year was 2006. We were driving a Bugatti Veyron 16.4 across the Florida Panhandle from Jacksonville to Panama City, only because I couldn't convince Bugatti to let me be the first to drive its exotic powerhouse, the world's fastest car at that time, all the way across America. One gleaming example had arrived in time for the Amelia Island Concours d'Elegance, where the journos massed for their quick test drives out the front drive of the Ritz Carlton, down a short stretch of the A1A, and back to the Ritz. Not far enough for me. I wanted to take the Veyron in all of its 16-cylinder, 1,001-horsepower, $1.3-million-dollar glory on a coast-to-coast extravaganza of a road trip. Never hurts to ask. I asked. Once the Bugatti guys stopped hyperventilating, I explained that the coastal adventure would be contained wholly within the state of Florida, from the Atlantic coast to the Gulf of Mexico. My secret destination, however, was to be Vernon, Florida, home of the great Errol Morris' classic documentary about a town in the Panhandle with the highest per-capita population of citizens who'd blown off or whacked off a limb for insurance money. (Google "Nub City.") The Swiss head of Bugatti public relations thought it hilarious. He showed up in a van with a couple of German mechanics to follow us and a failed French Formula 1 driver to serve as my chaperone. I came with a photographer from Germany and one of the most infamous of bad-boy auto magazine tech editors, the irrepressible Don Sherman. Sherman had his own reason for going, and it had nothing to do with a Veyron to Vernon. Once we gave up looking for nubbies, he ordered me to veer south to the handgrip of the Panhandle, familiarly known as the Redneck Riviera. The Don was aiming to secretly execute the Veyron's first Launch Control blastoff in captivity.