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Stellantis will build four electric vehicles in Italy, say union reps

MILAN — Stellantis will produce four medium-segment electric vehicles, of different brands, at its Melfi plant in southern Italy from 2024, the UILM union said on Tuesday. Since Stellantis was formed at the beginning of this year through the merger of Fiat Chrysler and France's PSA, production in Italy has been under scrutiny for costing more than elsewhere in Europe. "Stellantis announced that Melfi would be the first plant in Italy to get new models, based on post-2022 business plan," UILM said in a statement after workers' representatives met with the carmaker at Italy's industry ministry in Rome. Future production at Melfi will be based on a single enhanced production line that will merge the two existing ones, the union said, adding the restructuring will leave production capacity at the site unchanged at around 400,000 units. UILM's head, Rocco Palombella, said unions had not received all the answers they wanted as Stellantis was still working on its new business plan. "But the positive element is that the company has not absolutely called for structural redundancies," he said after the meeting. Stellantis Chief Executive Carlos Tavares has said the group would present its business plan late this year or in early 2022. Stellantis, the world's fourth-largest carmaker, gave no details about what was discussed at the meeting. In an earlier statement the company said it was working "with determination and speed" to support the energy transition of all its Italian sites. Italy's Industry minister, Giancarlo Giorgetti, however, said in a separate statement after the meeting that Stellantis had yet to decide where it would build its third electric battery plant in Europe. Stellantis, which already has two battery factory projects in France and Germany, has said adding gigafactories in Europe and the United States would be decided this year. The company is holding talks on this with Rome, as Italy is one of its main production hubs in Europe. Related video: Green Plants/Manufacturing Alfa Romeo Fiat Jeep Citroen Opel Peugeot Stellantis

Stellantis ready to kill brands and fix U.S. problems, CEO Tavares says

  MILAN — Stellantis is taking steps to fix weak margins and high inventory at its U.S. operations and will not hesitate to axe underperforming brands in its sprawling portfolio, its chief executive Carlos Tavares said on Thursday. The warning for lossmaking brands is a turnaround for Tavares, who has maintained since Stellantis was created in 2021 from the merger of Italian-American automaker Fiat Chrysler and France's PSA that all of its 14 brands including Maserati, Fiat, Peugeot and Jeep have a future. "If they don't make money, we'll shut them down," Carlos Tavares told reporters after the world's No. 4 automaker delivered worse-than-expected first-half results, sending its shares down as much as 10%. "We cannot afford to have brands that do not make money." The automaker now also considers China's Leapmotor as its 15th brand, after it agreed to a broad cooperation with the group. Stellantis does not release figures for individual brands, except for Maserati which reported an 82 million euro adjusted operating loss in the first half. Some analysts say Maserati could possibly be a target for a sale by Stellantis, while other brands such as Lancia or DS might be at risk of being scrapped given their marginal contribution to the group's overall sales. Stellantis' Milan-listed shares were down as much as 12.5% on Thursday, hitting their lowest since August 2023. That brings the loss for the year so far to 22%, making them the worst performer among the major European automakers. Few automotive brands have been killed off since General Motors ditched the unprofitable Saturn and Pontiac during a U.S. government-led bankruptcy in the global financial crisis in 2008. Tavares is under pressure to revive flagging margins and sales and cut inventory in the United States as Stellantis bets on the launch of 20 new models this year which it hopes will boost profitability. Recent poor results from global carmakers have heightened worries about a weakening outlook for sales across major markets such as the U.S., whilst they also juggle an expensive transition to electric vehicles and growing competition from cheaper Chinese rivals. Japan's Nissan Motor saw first-quarter profit almost completely wiped out on Thursday and slashed its annual outlook, as deep discounting in the United States shredded its margins. Tavares said he would be working through the summer with his U.S. team on how to improve performance and cut inventory.

Alfa Romeo Disco Volante Spider is a beauty in blue

Be still our beating hearts. The beautiful blue sportscar you see above is the Alfa Romeo Disco Volante Spider. It's the latest work from Italian design house Carrozzeria Touring Superleggera, which is celebrating its 90th anniversary. As you can see, it's a work of art, but what you can't see is that, like the hardtop version that came before it, this car is actually based on the bones of an Alfa Romeo 8C Competizione. That means it's bound to be a rare beast, since only 500 8C coupes and 500 8C Spiders were ever built. Apparently, just seven of these droptops are planned, and each one will be painted in a different color. The hue we see on the car that's debuting at the 2016 Geneva Motor Show is called Blue Ceruleo, which we figure pretty much means Sky Blue. Here's hoping at least one comes in a green scheme similar to the one shown off at Geneva back in 2014. We don't have any details about what powers the Disco Volante Spider, but we'd guess it uses the same 4.7-liter V8 and six-speed semi-automatic transmission that powered all the original 8C models. That would mean 444 horsepower and 350 pound-feet of torque, a 0-60 run 4-ish seconds and a top speed of around 180 miles per hour. But the actual performance seems mostly superfluous to the Disco Volante Spider's real mission, which is to look pretty. You'll want to check out our image gallery for more close-up shots. And if you just can't get enough, it seems that someone with early access to the show floor in Geneva smuggled in a camera. Check out the video above. Related Video: Related Gallery Alfa Romeo Disco Volante Spider by Carrozzeria Touring Superleggera View 17 Photos News Source: SellerieCimes via YouTube Design/Style Geneva Motor Show Alfa Romeo Convertible Luxury Special and Limited Editions Performance 2016 geneva motor show carrozzeria touring superleggera