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Stellantis says its 2021 performance has been better than expected

MILAN — Stellantis softened up investors ahead of its electrification strategy event on Thursday by flagging that 2021 got off to a better-than-expected start despite a chip shortage that has hit automakers worldwide. Stellantis, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, faces an investor community keen to hear how it plans to come up with a range of electrified vehicles (EVs) to rival Tesla. At its "EV Day 2021" kicking off at 1230 GMT, Stellantis will disclose significant investments in electrification technology and connected software as it aims to be an industry frontrunner, it said in a statement. In April, Chief Executive Carlos Tavares said it would offer low-emission versions — either battery or hybrid electric — of almost all of its European models by 2025, and they should make up 70% of European sales and 35% of U.S. sales by 2030. Stellantis, the world's fourth-biggest automaker, has 14 brands in its stable, including Jeep, Ram, Opel, Fiat, Peugeot and Maserati.   Stellantis EV Day coverage: Dodge will launch the 'world's first electric muscle car' in 2024 Fully electric Ram 1500 will begin production in 2024 Jeep will have 4xe plug-in hybrid models across the lineup by 2025 Stellantis teases mystery electric Chrysler concept Stellantis previews 4 electric platforms: Here's how they'll be used Fiat says all Abarth models to be electric from 2024 Opel Manta E will be the electric revival of the classic German coupe Stellantis says its 2021 performance has been better than expected   At a similar EV strategy event last week, French rival Renault announced that 90% of its main brand models would be all-electric by 2030, whereas previously it had included hybrids in its target. Germany's Volkswagen, the world's second-biggest automaker after Toyota, expects all-electric vehicles to make up 55% of its total sales in Europe by 2030, and more than 70% of sales at its Volkswagen brand. Stellantis said its margins on adjusted operating profits in the first half of 2021 were expected to exceed an annual target of between 5.5% and 7.5%, despite production losses due to a global shortage of semiconductor supplies. Stellantis shares listed in Milan were down 2.6% at 0920 GMT, underperforming the broader European car index. Bestinver analyst Marco Opipari said Thursday's news was positive but that the stock was suffering from profit taking as it had moved up about 20% since the end of April.

Chrysler investing $20M in Toledo plant to support 9-speed auto production

In 2011, Chrysler announced a $72-million investment in its Toledo Machining Plant to modernize production of the eight- and nine-speed torque-converters for automatic transmissions made there. That upgrade work won't be finished until Q3 of this year, but Chrysler has already announced a further $19.6-million investment to increase production capacity for the nine-speeders.
The extra units will be necessary because the nine-speed transmission they'll be mated to is going into three popular models: it will debut on the 2014 Jeep Cherokee, then go into the Chrysler 200 and Dodge Dart. The company predicted that this year alone it would sell 200,000 units equipped with the nine-speed tranny, and it is spending some $374 million in addition to the investment in Toledo to upgrade production capacity for it.
The work attached to this new investment won't begin until Q3 of 2014, and it will be finished by the end of that year. There's a press release below with all the details.

Dodge engineers trying to shoehorn Pentastar into Dart?

The fact that the Dart's launch has been a pretty dismal affair isn't what we'd call secret. Judging by its mounting inventories and poor critical reception, Dodge's successor to its unloved Caliber has struggled since it hit the market. And while both of those are difficult problems to address, at least their cause is well known - the powertrain.
Even Fiat-Chrysler CEO Sergio Marchionne has acknowledged that the powertrain options in the Dart are substandard, admitting at January's Detroit Auto Show that the powertrains are "less than ideal." Leading with the 1.4-liter turbocharged four-cylinder found in the Fiat 500 Abarth left a bad taste in the mouths of consumers thanks to the laggy engine and dead throttle response (to say nothing of the manual and dual-clutch gearboxes that needed more refinement). The addition of the 184-horsepower 2.4-liter Tigershark in the Dart GT has helped matters some, but apparently Auburn Hills doesn't think it's quite enough.
If rumors are to be believed - get that salt ready - a possible solution may be in the works. A report from Allpar is claiming that Dodge is considering fitting a Pentastar V6 into the Dart's engine bay. As the Mopar-obsessed website points out, the critically acclaimed Pentastar is available in three different sizes - 3.0 liters, 3.2 liters and the original 3.6 liters. We don't get the 3.0 here in the US, but the 3.2 can be found in the new Jeep Cherokee and the 3.6 has been seemingly fitted to every model Chrysler can shoehorn it into.