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2025 Maserati Grecale Folgore First Drive: Roughly translated 'electric Maserati SUV'

LECCE, Italy – Maserati believes its customers should decide if and when they go electric. While itÂ’s building up its range of EVs for motorists who think a twin-turbocharged V6 engine is the automotive equivalent of the horseshoe crab – the next-generation Quattroporte and Levante will notably be electric – itÂ’s still developing and selling gasoline-burning cars for those who are less than enthralled by battery technology. It launched the Grecale, its smallest SUV and its most affordable model by a significant margin, in 2022 and initially made it available with either a four- or a six-cylinder engine. ItÂ’s a bet that paid off: Aimed at the Porsche Macan, the Grecale has predictably become the Italian companyÂ’s best-selling model. The range expands later this year with the all-electric 2025 Maserati Grecale Folgore. In Italian, its name means "lightning," so that's fun.  Some carmakers, such as Mercedes-Benz, set their electric and gasoline-burning models apart by lumping the EVs into a sub-brand and giving them a powertrain-specific design. Maserati sees this approach as an avenue thatÂ’s best detoured, so the Folgore doesnÂ’t scream, “Hi, folks, look at me: IÂ’m electric!” It looks pretty much like the piston-powered Grecale with the exception of minor details. That's intentional. “In terms of the shape of the car, we donÂ’t want to change the customerÂ’s perception. Our customers know Maserati as a luxury brand, but weÂ’re also known for Italian design. We donÂ’t want to be generic; we want to be timeless. We donÂ’t want to follow a trend. Our mission is to achieve visual longevity,” Maserati designer Andrea Bruno told me on the sidelines of the Grecale Folgore launch. “These trends move fast. One month, everyone loves it. The month later, everyone has already forgotten it. We need to do something timeless.” Some of the visual changes made to the Folgore help improve driving range by reducing the drag coefficient. Up front, thereÂ’s a redesigned grille with a much smaller open area. Out back, Maserati added a redesigned air diffuser. Copper-colored accents also make the Folgore stand out, and the gasoline-powered modelÂ’s three fender-mounted air intakes are filled in and fitted with LED lights. Rame Folgore, a paint color that changes from gray-ish to brown-ish depending on the light that hits it, is EV-specific as well. It's the color you're seeing in our gallery, above. Other colors are also available.

Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

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.