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Stellantis announces ‘Circular Economy’ business to drive revenue, decarbonization

Stellantis has already announced its plans to reach net-zero carbon emissions by 2038. Today, the automaker has announced a new business unit to help it reach that goal while generating 2 billion euros per year in revenue by 2030. The “Circular Economy” business will help make revenue less dependent on finite, rare and ecologically problematic materials. The Circular Economy model features what Stellantis calls a “4R” strategy, comprising remanufacturing, repair, reuse and recycling. The goal is to make materials last as long as they can, reducing reliance on the acquisition of those precious new materials in the future by returning them to the business loop when theyÂ’ve reached the end of their first life. Through these processes, Stellantis says it can save up to 80% raw material and 50% energy compared to manufacturing a new part. Remanufacturing, or “reman” in Stellantis shorthand, means dismantling, cleaning and rebuilding parts to OEM spec. Nearly 12,000 remanufactured parts are available for customers to purchase. Some remanufacturing is done in-house, and some with partners and through joint ventures. Repair is pretty obvious — fixing parts to put back into vehicles. This also consists of reconditioning, to make a vehicle feel like new. Stellantis boasts 21 “e-repair” centers for repairing electric vehicle batteries.  Reuse refers to parts still in good condition from end-of-life vehicles sold as-is. Stellantis says it has 4.5 million multi-brand parts in inventory. These are sold in 155 countries through the B-Parts e-commerce platform. Reuse also refers second-life options, such as using batteries outside of automotive purposes. Recycling involves dismantling parts and scraps back into raw material form that is then looped back into the manufacturing process. Stellantis says it has collected 1 million parts for recycling in the past six months. Recycling doesnÂ’t get counted in that aforementioned 2 billion euros of revenue, but it does save the company money on acquisition of raw materials. As for batteries, specifically, Stellantis expects this recycling business to ramp up after 2030, when the packs currently in service begin to reach the end of their lifecycle. Stellantis will use its new “SUSTAINera” label to denote parts that are offered as part of its Circular Economy business.

Maserati Levante is Italy's answer to the Porsche Cayenne

When Maserati released the first images of the new Levante – and said little else about it – we wondered what it would be under the hood. Crossover or not, it is still a Maserati, after all. The full details are now here. Globally speaking, Maserati will offer the Levante with three engine options. All of them are turbocharged 3.0-liter V6s, but they vary widely in output and even burn different types of fuel. The base model packs 350 horsepower and 368 pound-feet of torque for a 0-62 time of 6.0 seconds flat – the same as the base Ghibli, but four tenths slower with a bigger form to move. The Levante S offers a rather impressive 430 hp and 427 lb-ft (more than the Ghibli S) for a 5.2-second sprint. And while the diesel model has the least power, it also offers the most torque, at 275 hp and 442 lb-ft (slightly more than the oil-burning sedan) for a 6.9-second time. Whichever engine is chosen, it comes mated to an eight-speed automatic transmission, all-wheel drive, and a limited-slip differential. Those output figures compare rather favorably to the Porsche Cayenne with which the Levante will invariably be compared. But Porsche and Maserati aren't the only high-end, old-world automakers that have now broken into the crossover game. So have Bentley and Jaguar, and soon so will Aston Martin, Lamborghini, Lotus, and Rolls-Royce. It's all part of an onslaught of crossovers coming from some of Europe's most vaunted marques. And while Maserati hasn't gotten there first, it hasn't gotten there last, either. With two sedans already out and a new sports car on the way, the Levante puts the Modenese automaker in prime position to grow, and grow big. View 21 Photos View 4 Photos Related Video: MASERATI LEVANTE DEBUTS AT THE GENEVA MOTOR SHOW Maserati's first SUV receives its eagerly-anticipated world unveiling at the Geneva International Motor Show Modena, 01 March 2016 – Maserati has chosen the 86th Geneva International Motor Show to introduce the first SUV in its hundred-year history: the Levante. As with many Maseratis from the past, the new car's name is inspired by a wind: the Levante is a warm Mediterranean wind that can change from a light breeze to an irresistible natural force in an instant, mirroring the character of the first Maserati SUV. The Levante is the ideal complement to the Maserati range. Combined with the Quattroporte, Ghibli, GranTurismo and GranCabrio, the range now covers the entirety of the global luxury automotive market.

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.