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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.

FCA recalls 2 million Ram trucks over airbag issues

Airbag issues have prompted Fiat Chrysler Automobiles to issue another pair of recalls. The two separate issues both affect Ram pickups, one campaign stemming from oversensitive sensors, the other from a wiring harness. Between them, the problems affect an estimated combined total of some 2 million units. The first recall affects 2013-15 Ram 1500, 2500, and 3500 trucks, specifically four-door models, manufactured between June 20, 2012, and January 26, 2015. The calibration of the side impact sensor in those affected units may to be too sensitive. As a result, if the door is slammed too hard, the side-curtain airbag and seatbelt pre-tensioner may inadvertently activate. FCA reports that this issue affects an estimated 667,406 units in the United States, plus 153,011 in Canada, a further 8,272 in Mexico, and another 14,847 in markets outside of North America, amounting (in Chrysler's estimation) to less than 0.005 percent of those vehicles produced. The automaker says it is aware of two minor injuries (but no accidents) that may have resulted from the glitch, and is taking action to have the Occupant Restraint Control module recalibrated in the affected units. The second issue also affects Ram pickups, including 1500, 2500, 3500, 4500, and 5500-series models from the 2012 to 2014 model years, built between January 18, 2011, and October 7, 2014, and fitted with the optional Electronic Vehicle Information Center. The problem here stems from a wiring harness in the steering wheel that may rub against a retainer spring in the air bag control module, which in turn could cause an electrical short and deploy the driver's side air bag unexpectedly. In the United States alone, the issue is estimated to affect 1,060,531 units, which will need to be inspected and, where necessary, have their steering wheel wiring harnesses secured, with protective caps added to the ends of the airbag retainer spring. These do not represent the first issues we've seen from Fiat Chrysler in recent days. The automaker recently issued a recall for approximately 1.4 million vehicles to have their Uconnect software updated to prevent hacking. A few days ago it also announced a recall for 350,000 Dodge Journey (and Fiat Freemont) crossovers to secure loose engine covers. And the National Highway Traffic Safety Administration is expected to issue Fiat Chrysler Automobiles a $105-million fine for mishandling other recent recalls and safety issues.

Ford F-150 could be affected by tornado-damaged supplier in S.C.

The disruption caused by a tornado that severely damaged a South Carolina auto-parts plant and killed a contract security guard last week could be felt by more automakers than just Ford and affect more than just its best-selling F-Series pickup, which is due for an update. And there’s still no estimate for when operations might resume at the plant. The Detroit Free Press reports that the BorgWarner plant in Seneca, near Greenville, makes transfer cases for F-150 and Super Duty pickups, the Ford Explorer and Expedition, Transit cargo vans, and Lincoln Navigator and Aviator SUVs. ItÂ’s also a supplier for the Ram 1500 and Toyota Tundra trucks. Transfer cases shift power from the transmission to the front and rear axles in four-wheel-drive vehicles. BorgWarner says it still has no update for when it might partially or fully resume operations. The tornado that ripped through the area in the western part of the state on April 13 tore the roof, walls and signage off the factory and killed a 77-year-old contract worker when the security building he was sheltering in collapsed. Only four or five others were inside the plant, which has been idled because of the coronavirus outbreak, when the tornado struck. In an SEC filing on Friday, Ford said it has sent employees to the site to help BorgWarner and assess the damage to FordÂ’s tooling. “Initial assessments indicate that the Ford tooling was not materially damaged in this incident,” Ford said in the filing. “We do not have sufficient information to estimate when the facility will be back on-line or whether or the extent to which this incident will impact our plans to resume production of four-wheel drive and all-wheel drive vehicles.” A Fiat Chrysler spokeswoman also told the Freep the company was working with BorgWarner on recovery plans. A Toyota spokesman told Autoblog that "we are collaborating with BorgWarner to help restore production for transfer cases for Tundra assembly. We are confident that theyÂ’ll fully recover over time." Like other automakers, Ford shut down production at its U.S. plants last month as a precaution against the coronavirus pandemic. But Ford hasnÂ’t yet said when it plans to reopen its factories. FCA is targeting May 4 to resume production. Models like the F-150 and Lincoln Navigator are major sources of profit for Ford, which estimated it lost $2 billion in the first quarter.