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Stellantis lays off salaried workers, cites uncertainty in EV transition

DETROIT — Jeep maker Stellantis is laying off about 400 white-collar workers in the U.S. as it deals with the transition from combustion engines to electric vehicles. The company formed in the 2021 merger between PSA Peugeot and Fiat Chrysler said the workers are mainly in engineering, technology and software at the headquarters and technical center in Auburn Hills, Michigan, north of Detroit. Affected workers were notified starting Friday morning. “As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure,” the company said in a prepared statement Friday. The cuts, effective March 31, amount to about 2% of Stellantis' U.S. workforce in engineering, technology and software, the statement said. Workers will get a separation package and transition help, the company said. “While we understand this is difficult news, these actions will better align resources while preserving the critical skills needed to protect our competitive advantage as we remain laser focused on implementing our EV product offensive,” the statement said. CEO Carlos Tavares repeatedly has said that electric vehicles cost 40% more to make than those that run on gasoline, and that the company will have to cut costs to make EVs affordable for the middle class. He has said the company is continually looking for ways to be more efficient. U.S. electric vehicle sales grew 47% last year to a record 1.19 million as EV market share rose from 5.8% in 2022 to 7.6%. But sales growth slowed toward the end of the year. In December, they rose 34%. Stellantis plans to launch 18 new electric vehicles this year, eight of those in North America, increasing its global EV offerings by 60%. But Tavares told reporters during earnings calls last month that “the job is not done” until prices on electric vehicles come down to the level of combustion engines — something that Chinese manufacturers are already able to achieve through lower labor costs. “The Chinese offensive is possibly the biggest risk that companies like Tesla and ourselves are facing right now,Â’Â’ Tavares told reporters. “We have to work very, very hard to make sure that we bring out consumers better offerings than the Chinese.

Autoblog's Editors' Picks: Our complete list of the best new vehicles

It's not easy to earn an “EditorsÂ’ Picks” at Autoblog as part of the rating and review process that every new vehicle goes through. Our editors have been at it a long time, which means weÂ’ve driven and reviewed virtually every new car you can go buy on the dealer lot. There are disagreements, of course, and all vehicles have their strengths and weaknesses, but this list features what we think are the best new vehicles chosen by Autoblog editors. We started this formal review process back in 2018, so there's quite of few of them now. So what does it mean to be an EditorsÂ’ Pick? In short, it means itÂ’s a car that we can highly recommend purchasing. There may be one, multiple, or even zero vehicles in any given segment that we give the green light to. What really matters is that itÂ’s a vehicle that weÂ’d tell a friend or family member to go buy if theyÂ’re considering it, because itÂ’s a very good car. The best way to use this list is is with the navigation links below. Click on a segment, and you'll quickly arrive at the top rated pickup truck or SUV, for example. Use the back button to return to these links and search in another segment, like sedans. If youÂ’ve been keeping up with our monthly series of the latest vehicles to earn EditorsÂ’ Pick status, youÂ’re likely going to be familiar with this list already. If not, welcome to the complete list that weÂ’ll be keeping updated as vehicles enter (and others perhaps exit) the good graces of our editorial team. We rate a new car — giving it a numerical score out of 10 — every time thereÂ’s a significant refresh or if it happens to be an all-new model. Any given vehicle may be impressive on a first drive, but we wait until itÂ’s in the hands of our editors to put it through the same type of testing as every other vehicle that rolls through our test fleet before giving it the EditorsÂ’ Pick badge. This ensures consistency and allows more voices to be heard on each individual model. And just so you donÂ’t think weÂ’ve skipped trims or variants of a model, we hand out the EditorsÂ’ Pick based on the overarching model to keep things consistent. So, when you read that the 3 Series is an EditorsÂ’ Pick, yes, that includes the 330i to the M3 and all the variants in between. If thereÂ’s a particular version of that car we vehemently disagree with, we make sure to call that out.

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.