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Stellantis earnings rise along with EV sales

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.

2017 Jeep Compass is finally a compact crossover worthy of its badge

Jeep finally thinks it has a Compass that points true north. When the compact crossover first debuted alongside the Patriot for the 2007 model year, it was all wrong. The original Compass didn't look like a Jeep, didn't have any off-road credibility, and wasn't remotely fun to drive. It was, by all accounts, a failure. A mid-cycle refresh helped matters in 2011, and the addition of a six-speed automatic to replace the unloved CVT made 2014 and later models the best of the breed. Until now, that is. View 14 Photos There's a brand-new Jeep Compass for 2017, and it looks to put Jeep's compact crossover contender back on track. The new Compass looks a lot like a shrunken Grand Cherokee, which is no bad thing. A slotted grille leads the way, and the bulging fenders and slowly rising bodysides add visual interest to the two-box shape. An optional dual-pane sunroof should help keep the cabin from feeling too confining, though the Compass lacks any sort of removable top system like that of its smaller sibling, the Renegade. One engine will be available in the United States. The 2.4-liter Tigershark four-cylinder engine offers 180 horsepower and 175 pound-feet of torque. That's 8 more ponies and 10 more lb-ft than before. Buyers can choose from three transmission options, starting with a six-speed manual on either 4x2 or 4x4 versions. Front-wheel-drive Compass models get a six-speed auto option, while 4x4 models get a nine-speed. Both the Jeep Active Drive and Jeep Active Drive Low – the latter system features a crawl ratio – can send 100 percent of the engine's available torque to whichever individual wheel has the most traction. A Trailhawk model (above in red) is a new addition to the Compass line, and it comes with unique fascias and a small suspension lift that improve its off-road cred with a 30-degree approach angle, 24-degree breakover angle, and 34-degree departure angle. Trailhawk models get Hill Descent Control and a Rock Mode added to the Selec-Terrain system, which, coupled with a 20:1 crawl ratio, should make the Trail Rated Compass the most capable vehicle in its class. As you would expect, the Compass is a unibody. That should make it pretty comfortable on the road, too, and its Koni frequency damping struts both front and rear ought to make it ride pretty well. Inside, there are three different center LCD screen sizes, depending on trim. Base models get a 5.0-inch unit, with larger 7.0- and 8.4-inch units optional.

April Fools' Day brings Jeep Sedan, Hyundai N Roadster, Toyota Yaris pickup and more

There is one day out of the year when public relations professionals have permission to lie to journalists and to the public: April Fools' Day. Manufacturers release details about wild, weird and wacky new technology, concept vehicles and services. Some take it to obvious outlandish extremes (Jeep Sedan anybody?), while others plot to mislead with products that are just outside the realm of possibility. Check out all the "jokes" below. BMW Motorrad BMW doesn't want to exclude anybody from experiencing the thrill of high-level racing, so it is introducing 'iRace" autonomous programming on its S 1000 RR sport bike. It includes beginner, sportsman, advanced and unlimited driving modes, and stores GPS information for all Superbike world championship tracks. Hyundai Hyundai is wrong for this. The Hyundai N Roadster is the work of South Korean designer Yeonjoon Park and features a 2.0-liter turbocharged engine, rear-wheel drive and a hard convertible top. Hyundai says this is a "concept (for now)," but we think it'd make a seriously great Mazda Miata competitor. Honda Honda wins the award for the best interactive gimmick, as its press release for the '90s-inspired special-edition Pastport includes a live hotline number with a message from Fred Savage. Call 1-833-PASTPORT for more information. Jeep Put the Jeep Cherokee face on the Chrysler 300's body, and voila! The 2019 Jeep Sedan is born. We can't decide if the name or the rendering is better. Land Rover Accessibility to charging ports is of major concern to anybody with a plug-in vehicle. So, with the recent launch of the Range Rover P400e and Range Rover Sport P400e, Land Rover is putting forth an effort to install more stations around the globe. First up is Scotland's Isle of Skye. Adventurers need juice too! Lexus Australia Lexus expands its Encore service to include doggos. The new service, called Enpaw, will take pups to luxury boarding kennels in style. Toyota U.S. Toyota created the Yaris Adventure pickup for "those who want to tell their friends they own a truck but never veer off pavement." It's part Mazda 2, part RAV4, 100 percent ute and it looks ... great? Creating a new segment might be all fun and games to Toyota, but Ford is reportedly considering a Focus-based ute in a similar, albeit larger, style. Toyota Australia Toyota is launching a new HiAce van, and it's already getting a limited-edition variant called the PieAce.