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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.

Alfa Romeo drops its Giorgio platform as it electrifies for the future

Alfa Romeo, a storied Italian automaker with a tremendous amount of goodwill from the automotive enthusiast crowd, is about to go through yet another major transformation. According to reports, including this one from Automotive News Europe, newly appointed Alfa Romeo CEO Jean-Philippe Imparato told Italian journalists during a roundtable event that all future vehicles from the company would be electrified and built on a new platform known internally as the STLA large-vehicle architecture that will be shared across brands under the Stellantis umbrella. "We are working on the Large platform of Stellantis and we will no longer use the Giorgio,” Imparato said. “We must take advantage of the volumes to take all possible opportunities and bring an EV range to Alfa Romeo, but always with the touch of Alfa Romeo.” That means the well-regarded Giorgio platform that currently underpins Alfa Romeo's only two mainstream products, the Giulia sedan and the Stelvio crossover, will come to an inglorious end. That's a shame. The Giorgio platform didn't just cost Alfa's previous parent company Fiat Chrysler Automobiles millions of dollars to engineer, it also gave the company a duo of vehicles that arguably drive better than anything else in their segments. Forbes reports that the Giorgio platform won't be entirely abandoned, as it will reportedly be integrated into the rest of the Stellantis portfolio in some way. We don't know exactly what that means, but perhaps it lives on in heavily modified form as the basis of crossovers and SUVs like the upcoming Jeep Grand Cherokee, which Jeep calls a completely new platform but one we believe shares engineering with the Giorgio. We also think it will underpin the upcoming Maserati Grecale. As for the future of Alfa Romeo, the next model coming from the brand is the Tonale, which was delayed by Imparato in order to get its plug-in hybrid powertrain just right. Tonale will use a platform shared with current Jeeps. Rumors suggest an even smaller crossover called the Brennero is on the way, also using a hybrid drivetrain. Past that, we'll just have to wait and see — Imparato says new 5-year and 10-year plans are currently being finalized. In any case, we doubt there will be any significant updates to the Giulia or Stelvio as the brand moves all its resources to its electrified intentions. Related video:

2024 Maserati GranTurismo revealed, twin-turbo V6 or 750-hp EV: 'We're going to let buyers decide'

Maserati is in the midst of a renaissance; it's branching out into new segments with cars like the MC20 and the Grecale. While it's counting on these models to widen its target audience, it's not forgetting about its existing customers and the cars that brought them to the brand. The new, second-generation GranTurismo is a blank-sheet redesign that's evolutionary where it counts and revolutionary where it needs to be. First, the elephant in the room: this is a big, luxurious coupe launched in an era when big, luxurious coupes are disappearing at an alarming rate. What's the point? Min Byung Yoon, Maserati's lead exterior designer, explained the grand tourer (a fast, upscale car designed to quickly and effortlessly drive across a country) is one of the pillars that the company's image is built on, and keeping this tradition alive is important. Customers care more about image and usability than tradition, however, so the new GranTurismo receives several important updates. Maserati will offer the GranTurismo in three different flavors: Modena, Trofeo and Folgore. The first two use a version of the excellent 3.0-liter, twin-turbocharged V6 inaugurated by the MC20 and also found in the Grecale. Known as the Nettuno engine internally, it develops 490 horsepower and 443 pound-feet of torque in the Modena, figures that increase to 550 and 479, respectively, in the Trofeo. It's bolted to an eight-speed automatic transmission in both applications, and it spins the four wheels — the original GranTurismo was rear-wheel-drive. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Andrea Baccino, the chief engineer for the Italian firm's electric powertrains, told me that making all-wheel drive standard across the range is a way to expand the GranTurismo's usability. It's now a viable year-round driver, even if you live somewhere in rural Vermont. The system is rear-biased but variable: it can send up to 100% of the engine's torque to the rear wheels or split it 50/50 between the front and rear axles. The V6 is front-mid-mounted to achieve a 52/48 front-rear weight distribution, and the GranTurismo weighs around 3,957 pounds, which is surprisingly low considering it's not exactly nimble: it measures about 195 inches long, 77 inches wide and 53 inches tall. Hitting 62 mph from a stop takes 3.9 seconds in the Modena and 3.5 seconds in the Trofeo, and top speed checks in at 187 mph and 198 mph, respectively.