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Stellantis wants to trim 3,500 hourly U.S. jobs, UAW says

WASHINGTON — Chrysler-parent Stellantis NV wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages, according to a United Auto Workers union letter made public Tuesday. The automaker is looking to reduce its hourly workforce offering incentive packages that include $50,000 payments for workers hired before 2007, UAW Local 1264 said in a letter dated Monday posted on its Facebook page. Stellantis spokeswoman Jodi Tinson declined to comment. A person briefed on the matter said the figure might be lower than the figure cited in the UAW letter. In late February, Stellantis indefinitely halted operations at an assembly plant in Illinois, citing rising costs of electric vehicle production. The action impacted about 1,350 workers at the Belvidere, Illinois, plant that built the Jeep Cherokee SUV and resulted in indefinite layoffs. The automaker has warned it may not resume operations as it considers other options. The UAW letter said openings created by workers leaving would be filled by workers on indefinite layoff. Stellantis said in February that about 40,000 U.S. hourly workers were eligible for profit sharing. Last week, UAW President Shawn Fain said Stellantis' decision to idle the Illinois plant was "a flat-out violation" of the union's contract with the UAW and is unacceptable. The UAW will enter talks with the Detroit Three before labor contracts expire in mid-September. Earlier this month, General Motors said about 5,000 salaried workers accepted buyouts to leave the automaker. GM CEO Mary Barra said February job cuts of a few hundred jobs and the 5,000 buyouts "provided approximately $1 billion towards" a $2 billion cost cutting target. Ford Motor Co recently announced significant job cuts in Spain, Germany and other parts of Europe and in August said it would cut a total of 3,000 salaried and contract jobs, mostly in North America and India. Hirings/Firings/Layoffs UAW/Unions Chrysler Dodge Fiat Jeep Maserati RAM Stellantis

0-to-62 in 2 seconds: Maserati Alfieri electrics will take on Tesla with Ferrari's help

Maserati's long-delayed flagship, the Alfieri sports car, will go electric, offering hybrid, plug-in hybrid and full-electric versions, parent company FCA said today its five-year plan. The Italian brand also outlined plans to launch a midsize SUV, all-new versions of the Quattroporte and Levante, and said it intends to electrify its entire fleet by 2022. Tim Kuniskis, head of the Maserati brand, said in a presentation in Italy that Ferrari will supply all future powertrains across every configuration, including hybrid, plug-in hybrid and battery-electric vehicles. The brand also announced that it will market full-electric vehicles under the Maserati Blue name. The goal for Maserati Blue is to offer battery-electric versions of four cars: the Alfieri, a convertible version called the Alfieri Cabrio, the Quattroporte and the Levante. All will feature three motors with e-all-wheel-drive, torque vectoring, 800-volt battery technology, long driving ranges and quick charging. They'll also be based on a lightweight modular aluminum platform. If the Alfieri sounds familiar, it should: It first debuted as a 2+2 sports coupe concept at the Geneva Motor Show all the way back in 2014. Back then, it was likely to use Maserati's turbocharged V6 and V8 engines and be rear-wheel drive only. But the concept has hit a series of delays on the way to production. Plans for the new version call for a new modular aluminum space frame to minimize weight gain — Kuniskis says it weighs only about 385 pounds more than the conventional combustion-engine version — and it will offer all-wheel-drive with full active torque vectoring. Top speed will be more than 186 mph, and it'll go from 0 to 62 mph in around 2 seconds. There's no name yet for the forthcoming midsize utility vehicle, which Maserati says will be offered in hybrid and PHEV configurations. It promises a best-in-class lightweight platform and power-to-weight ratio and 50/50 weight distribution. A high-performance Trofeo model will also be offered. New versions of the Quattroporte luxury sedan and Levante crossover will also be based on a new lightweight, modular platform and will include Level 2 autonomous-driving capabilities, with Level 3 available by late 2021 or early 2022, Kuniskis said. Both vehicles will get a Q4 all-wheel-drive system and come with a choice of three powertrains, including hybrid and PHEV.

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.