1992 Jeep Cherokee Laredo Sport Utility 4-door 4.0l on 2040-cars

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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.

In Michigan, car hackers could face life imprisonment

Car hackers may not want to mess with vehicles in and around the Motor City. A pair of Michigan lawmakers introduced legislation Thursday that would punish anyone who infiltrates a vehicle's electronic systems with penalties as harsh as life imprisonment. Senate bill 927 says that "a person shall not intentionally access or cause access to be made to an electronic system of a motor vehicle to willfully destroy, damage, impair, alter or gain unauthorized control of the motor vehicle." Offenders will be deemed guilty of a felony, and may be imprisoned for any number of years up to life in prison. The proposed legislation is one of the first attempts nationally to address the consequences for car hacking, which has become a top concern throughout the auto industry. Critics have accused executives of being slow to respond to the threats, which were first known as long as six years ago but gained attention last July when a pair of researchers remotely controlled a Jeep Cherokee. In January, the industry established an Information Sharing and Analysis Center to collectively evaluate security measures and counter breaches. But the Michigan bill isn't noteworthy only because of the life penalty prescribed; it's noteworthy for what's missing in its details. Language in the bill doesn't delineate between independent cyber-security researchers and criminals who intend to inflict harm or havoc. Under its provisions, it's possible Charlie Miller, pictured below, and Chris Valasek, the researchers who demonstrated last summer that the Cherokee could be remotely commandeered and controlled, could face life behind bars. Provisions of the legislation that prevent a person from "altering" the motor vehicle could ensnare car enthusiasts or gearheads who tinker with electronic systems to boost performance, increase fuel efficiency or add aftermarket features. In that context, Senate Bill 927 seems like the latest measure in a running feud between independent researchers, gearheads and big automakers. Car companies don't like third parties poking around their electronic systems and would prefer the researchers not reveal security weaknesses. Researchers, on the other hand, say many carmakers are either slow to fix or unwilling to repair security holes unless they're able to publish their findings.

Jeep and Ram diesel owners get $3,075 in lawsuit settlement

Owners of certain Ram 1500 and Jeep Grand Cherokees equipped with diesel engines will get up to $3,075 in compensation for repairs under a settlement of a class-action lawsuit against Fiat Chrysler over illegal emissions-cheating software. The roughly $800 million settlement was first announced in January and approved by a federal judge in California last week, according to Consumer Reports. The affected vehicles are 2014 to 2016 Ram 1500 pickup trucks and Jeep Grand Cherokee SUVs equipped with 3.0-liter EcoDiesel V6 engines. FCA will update the emissions control software, provide an extended warranty covering up to 10 years or 120,000 miles, and provide cash compensation. Eligible owners will get as much as $3,075, while eligible lessees, former lease holders and former owners will get up to $990, and partial owners will get up to $2,460. FCA has established an EcoDiesel Settlement website where affected owners can find more information on how to submit and track a claim and sign up for updates. Customers with questions can also call 833-280-4748. Vehicle owners will have 21 months to submit a claim, with a deadline of Feb. 3, 2021, and two years to complete the repair and receive compensation for it. Former owners and lease holders must submit claims by Aug. 1, 2019. The EPA in early 2017 issued a notice of violation to FCA after Jeep and Ram installed eight emissions control devices on diesel vehicles. FCA's settlement includes $311 million in total civil penalties to U.S. and California regulators, up to $280 million to resolve claims from diesel owners, $105 million in extended warranties, $72.5 million in state civil penalties and $33.5 million in payments to California for excess emissions and to resolve consumer claims. Auto supplier Robert Bosch GmbH, which provided emissions control software, is paying $27.5 million to resolve claims, plus $103.5 million to settle claims with 47 states. The federal court also approved consent decrees between FCA, the EPA and the California Air Resources Board, plus agreements with all 50 stats and the U.S. Customs and Border Protection. In a statement, FCA said, "The settlements contain no findings of wrongdoing, nor admission of any wrongdoing, by FCA US" and added that the software fixes will have no affect on average fuel economy, performance or other characteristics of the vehicles.