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Stellantis previews 4 electric platforms: Here's how they'll be used

Stellantis EV Day is hitting hard and fast this morning, with big news coming from Dodge and Ram and Jeep and the rest. But to support those brand transformations, a core initiative within Stellantis will help it become a leader in electrification. To do that, the group is developing platforms and technologies with cross-shared components and systems. This starts with four flexible BEV platforms: STLA Small, STLA Medium, STLA Large and STLA Frame. As for targeted numbers, they’re lofty: By 2024, Stellantis aims for over 500 miles of range, 0-62 mph in 2 seconds and charging 200 miles of range in 10 minutes. The four platforms will offer battery capacities from 37 kWh to more than 200 kWh. More specifically, STLA Small will offer 37-82 kWh and up to 300 miles of range. STLA Medium will have 87-104 kWh and up to 440 miles. STLA Large will provide 101-118 kWh and up to 500 miles of range. The truck-focused STLA Frame will provide 159-200+ kWh and up to 500 miles of range (and will support an electric Ram 1500 pickup). Chrysler EV Front 34 View 8 Photos Stellantis has big plans for the STLA Large platform, and is currently developing eight vehicles for it in the next three to five years. Examples of possible vehicles shown include a midsize Ram truck and a Jeep off-roader that could fight against the likes of the Toyota 4Runner. Stellantis design boss Ralph Gilles could be seen in a presentation looking over a Chrysler electric crossover based on this platform. We also saw a Wagoneer badge teased momentarily. There was a rendered silhouette of a crossover that looked like it could compete with the Ford Mustang Mach-E. Gilles said the platform would allow Stellantis to “create a long-range luxury sedan, an all-conquering muscle car, a heart-of-the-market DUV, a heart-of-the-market SUV, a very capable Jeep off-roading white-space opportunity vehicle as well as a new mid-sized truck.” See for yourself in this video starting at the 90-minute mark. As for powertrains, Stellantis is developing three electric drive modules with a shared, scalable inverter, and other common components, as well as in-house software to control them. Those drive units will offer from 70 to 330 kW (94-402 horsepower). More specifically, one EDM will provide 70 kW, a second will provide 125-180 kW, while the most potent can produce 150-330 kW.

Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

Michigan Gov. Gretchen Whitmer says manufacturing can reopen May 11

Michigan Governor Gretchen Whitmer on Thursday said the state's factories can reopen next Monday, May 11, removing one of the last major obstacles to North American automakers bringing thousands of laid-off employees back to work amid the coronavirus pandemic. While reopening the manufacturing sector, Whitmer also extended her state's stay-at-home order by about two weeks to May 28, citing a desire to avoid a second wave of COVID-19, the respiratory illness caused by the novel coronavirus. “WeÂ’re not out of the woods yet, but this is an important step forward," Whitmer said in a statement. "As we continue to phase in sectors of our economy, I will keep working around the clock to ensure our businesses adopt best practices to protect workers." This week, General Motors and Fiat Chrysler Automobiles said they were targeting resuming vehicle production in North America on May 18, but suppliers would need time to prepare ahead for that date. Ford has not said what date it is targeting. The governor previously extended the state's coronavirus stay-at-home order through May 15, but had lifted restrictions for some businesses. Neighboring Ohio had allowed manufacturing to resume this past Monday, putting pressure on Whitmer to follow suit. Michigan's shutdown had stymied efforts by the Detroit Three and rival automakers to restart vehicle assembly anywhere in the United States, because so many critical parts suppliers are based in the state. Automakers and their suppliers already have begun gearing up for a possible resumption of work at their U.S. plants, but needed the official go-ahead from Whitmer. Industry officials had been pressing Whitmer to allow suppliers to reopen starting May 11 so the automakers could resume operations on their target date. They also wanted the green light so they can press Mexico to open its auto sector as suppliers there are also critical for the industry restart. The automakers' plans were tacitly approved on Tuesday by the United Auto Workers union, which represents the Detroit automakers' hourly U.S. plant workers. The union had previously said early May was "too soon and too risky" to restart manufacturing. Under Whitmer's new order, factories must adopt measures to protect workers, including daily entry screening, no-touch temperature screening as soon as possible and use of protective gear like face masks. Automakers have already rolled out such policies.