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Stellantis wants to trim 3,500 hourly U.S. jobs, UAW says

WASHINGTON — Chrysler-parent Stellantis NV wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages, according to a United Auto Workers union letter made public Tuesday. The automaker is looking to reduce its hourly workforce offering incentive packages that include $50,000 payments for workers hired before 2007, UAW Local 1264 said in a letter dated Monday posted on its Facebook page. Stellantis spokeswoman Jodi Tinson declined to comment. A person briefed on the matter said the figure might be lower than the figure cited in the UAW letter. In late February, Stellantis indefinitely halted operations at an assembly plant in Illinois, citing rising costs of electric vehicle production. The action impacted about 1,350 workers at the Belvidere, Illinois, plant that built the Jeep Cherokee SUV and resulted in indefinite layoffs. The automaker has warned it may not resume operations as it considers other options. The UAW letter said openings created by workers leaving would be filled by workers on indefinite layoff. Stellantis said in February that about 40,000 U.S. hourly workers were eligible for profit sharing. Last week, UAW President Shawn Fain said Stellantis' decision to idle the Illinois plant was "a flat-out violation" of the union's contract with the UAW and is unacceptable. The UAW will enter talks with the Detroit Three before labor contracts expire in mid-September. Earlier this month, General Motors said about 5,000 salaried workers accepted buyouts to leave the automaker. GM CEO Mary Barra said February job cuts of a few hundred jobs and the 5,000 buyouts "provided approximately $1 billion towards" a $2 billion cost cutting target. Ford Motor Co recently announced significant job cuts in Spain, Germany and other parts of Europe and in August said it would cut a total of 3,000 salaried and contract jobs, mostly in North America and India. Hirings/Firings/Layoffs UAW/Unions Chrysler Dodge Fiat Jeep Maserati RAM Stellantis

Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

330-horsepower Ghibli Hybrid is Maserati's first electrified model

Maserati kicked off its electrification campaign by releasing a hybrid version of the Ghibli, its entry-level model. The sedan gains a mild hybrid system, subtle visual tweaks, and many technology upgrades inside. Unveiled online, the brand's first production-bound electrified car features a gasoline-electric powertrain built around a turbocharged, 2.0-liter four-cylinder engine. It works jointly with a 48-volt belt-driven starter-generator and what the company calls an e-booster that's essentially an electric supercharger. The system's total output checks in at 330 horsepower at 5,750 rpm and 332 pound-feet of torque at 4,000 rpm, and it channels its power to the rear wheels via an eight-speed automatic transmission and a limited-slip differential. Maserati quotes a 5.7-second sprint from zero to 62 mph, and a 159-mph top speed. While fuel economy figures are still being finalized, preliminary estimates peg the Hybrid's fuel consumption at about 27.6 mpg in a combined cycle, a figure which — if accurate — makes it less efficient than the 31.3-mpg diesel model it will replace. Adopting 48-volt technology was the best way to electrify the Ghibli, according to the brand. "We thought about a plug-in option for the Ghibli, but when you put a lot of batteries — and a lot of other stuff — into the car, it adds weight and it's going to jeopardize the performance and the fun-to-drive quotient that is key for Maserati. I'm not saying this to diminish the good points of the plug-in hybrid technology, but it's not the best solution here," Francesco Tonon, Maserati's head of global product planning and marketing, told Autoblog. Tonon pointed out making the Ghibli a hybrid wasn't an excuse to make it dull; it still needed to drive and sound like a Maserati. It's 176 pounds lighter than the diesel-burning model, and it offers better weight distribution because there is a lighter engine under the hood and some of the hybrid components are installed in the back. As for the sound, Tonon proudly explained his team gave the Ghibli a unique exhaust note worthy of the storied trident emblem without resorting to an amplifier, by tweaking the system and adopting resonators. Subtle design changes set the Hybrid model apart from the non-electrified Ghibli.