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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.

2018 Jeep Wrangler revealed: First photos released before L.A. Auto Show debut

All the guessing and speculation on the look of the 2018 Jeep Wrangler can finally end. Jeep has released a trio of photos showing off the new off-roader in both two- and four-door configurations. Sadly, this is all we get to see at the moment, as the company won't be releasing any more photos or info until the truck's official debut at the Los Angeles auto show Nov. 29. But Wrangler fans can rest easy about a number of key features. For one thing, there isn't a single aspect of open air motoring left out of the new truck. As one of the images clearly shows, the doors come off, the top comes off, and the windshield still folds down. Other interesting notes include that the gas filler is hidden behind a door now. The hood still has the traditional external clips. Interestingly, the roll bar doesn't reach as close to the edge of the body as it has in past Wranglers. It will be interesting to learn the reason for this. It could have something to do with safety, or perhaps it helps accommodate thicker, quieter hardtops and/or a more elegantly lowered soft top. There are no engine, transmission, or other specifications yet. Those will all come at the aforementioned reveal in LA. However, we expect it to be initially offered with a V6 with either manual or automatic transmissions, followed by a turbocharged four-cylinder with just an automatic. Related Video: Featured Gallery 2018 Jeep Wrangler Image Credit: Jeep LA Auto Show Jeep SUV Off-Road Vehicles

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