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Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

Stellantis to offer electric versions of most of its European lineup by 2025

Newly merged automaker conglomerate Stellantis will offer electric versions of almost all of its European lineup by 2025, it said on Thursday, as the auto industry faces regulatory pushes in Europe and China to accelerate the shift to zero-emission cars. Formed in January by the merger of France's PSA and Italian-American group Fiat Chrysler, Stellantis is the world’s fourth largest carmaker with 14 brands including Opel, Jeep, Ram and Maserati, and like its peers faces an investor community keen for a road map to an electric lineup to rival Tesla . Speaking during Stellantis' first annual shareholders meeting, Chief Executive Carlos Tavares said that in 2021 the carmaker expects sales of electrified vehicles — that is, both plug-in hybrids and fully electric models — to more than triple to over 400,000 units in 2021. By 2025, electrified vehicles should make up 38% of European sales, a huge jump from the 14% of sales it expects in 2021. Tavares said by 2030 electric models should make up 70% of European sales and 35% of U.S. sales. He said Stellantis will use four electric platforms for passenger vehicles across its 14-brand empire — small, medium and large sizes for cars, and "frame" for high-margin SUVs and pickup trucks. Sweden's Volvo said this month its lineup would be fully electric by 2030, and Ford Motor Co said in February its lineup in Europe would be too. BMW has said at least 50% of its car sales should be fully-electric models by 2030. Sales of electric and plug-in hybrid cars in the European Union almost trebled to over 1 million vehicles last year, accounting for more than 10% of overall sales. Green Alfa Romeo Fiat Jeep Maserati Citroen Lancia Opel Peugeot Vauxhall Electric Hybrid Stellantis

Jeep Wrangler 4xe's hybrid powertrain: Could it be headed to other FCA products?

On its own, the 2021 Jeep Wrangler 4xe plug-in hybrid is a big deal for the brand and the model line. It's the most powerful and most efficient Wrangler by significant margins, and it doesn't give up the off-road capability that makes the Wrangler so special. But another great thing about this hybrid powertrain is its potential to be transplanted into other FCA vehicles. Just to recap, the layout of the Wrangler's hybrid powertrain, front to back, is as follows: engine, clutch, electric motor, clutch, transmission. The engine is the same 2.0-liter turbocharged four-cylinder that's a standalone engine for the Wrangler. The transmission and electric motor are sort of one unit, with the motor and clutch replacing the torque converter of the transmission. And the transmission itself is the ubiquitous eight-speed ZF automatic gearbox. Its transmission code name is 8HP75PH. The ZF eight-speed is available in every FCA product with a longitudinally-mounted engine and rear-wheel drive or four-wheel drive, with variations in the amount of power and torque it can handle. Not only that, but the Ram 1500 and 2500 and the Jeep Wrangler and Gladiator all have powertrains that utilize the non-hybrid version of the 8HP75 transmission specifically. Even the gear ratios for that transmission as well as the 8HP70 used in the Jeep Grand Cherokee, Dodge Durango, Dodge Charger and Chrysler 300 are nearly identical to those in the 8HP75PH. And a Fiat-Chrysler representative confirmed that the transmission portion of the hybrid drivetrain is basically carry-over from the regular 8HP75. So a transplant could be a relatively simple process. As for which of these models would be the most likely to receive the hybrid powertrain first, the Jeep Gladiator and Ram 1500 would seem like good bets, since they likely have the most similar transmissions, and the Gladiator in particular because of its closely-related underpinnings to the Wrangler. Both are also highly profitable trucks that sell well and could justify the development costs of adapting another powertrain. And in the case of the Ram, there's the impending F-150 hybrid to think about. Although Ram isn't going after a fully electric model, a PHEV could be a nice middle ground. A potential limiting factor would be whether the hybrid powertrain would be sufficiently robust to handle heavy payload and towing demands, particularly over longer periods.