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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.

2014 Maserati Quattroporte goes on a night run

While it was in development, Maserati rolled out its 2014 Quattroporte for a little testing, but rather than slather the big luxury sedan in gobs of camouflage to protect from it prying eyes, engineers used the cover of darkness to conceal the vehicle's design. Then they made a video about their cleverness and posted it on the Internet. The team spent some time whipping around the Balocco Proving Ground with chief test driver Fabrizio Galvan at the controls to evaluate the sedan's new drivetrain, noise levels and handling in the real world.
We got our hands on the 2014 Quattroporte last month for a first drive ahead of the vehicle's North American debut at the 2013 Detroit Auto Show. You can read our impressions here, but first, take a look at the video below for a new glimpse at the machine's development.

2020 Maserati Ghibli getting a hybrid powertrain, start of brand revamp

Maserati has officially announced its product plans for the next couple of years, and the company is beginning to embrace electrification. It all starts next year with the 2020 Maserati Ghibli, which will receive a hybrid powertrain. Maserati didn't specify whether it would be the only powertrain, but we would expect that it will still offer some fully gas-powered engines such as the 424-horsepower turbocharged 3.0-liter V6 in the current model. In the same year, we'll finally see Maserati's next sports car that the company has confirmed will have electric power. By all accounts, it should be the production version of the Alfieri concept that made its debut five years ago. Maserati also confirmed that the Alfieri will not replace the GranTurismo. Instead, the GranTurismo will be getting a new generation. Reports say the new GranTurismo will arrive in 2021. Maserati will also add another crossover to its lineup. Reports say it will be smaller than the Levante. We should see it sometime in 2020, since early production tests will wrap up late that year and in early 2021. Maserati didn't say specifically if there will be an electrified version, but past reports would suggest at least a hybrid will be available. Finally, Maserati mentioned that Quattroporte, Levante and Ghibli will all continue on with some updates. Expect mild facelifts and powertrain updates to them over the next couple of years, rather than a major redesign. Maserati will also be developing more advanced driver assist systems, including a system similar in scope to Cadillac Super Cruise that will allow hands-free highway driving and lane changes.