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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.

Maserati MC20 supercar will debut in May then hit the race track

In the mid-2000s, Maserati was at the top of its game and at the top of performance car mountain with the Ferrari Enzo-based MC12. Today, Maserati isn't even in the foothills, let alone at the summit. The company is hoping to regain its credibility and status this year when it releases a new "super sports car" that we now know will be named MC20. We first caught a glimpse of the MC20, which is the spiritual successor to the MC12, in late 2019 via four murky photos of a camouflaged test mule. Judging by those photos, it seems the car will not look like any previous concept or model we've seen, which should help establish Maserati's insistence that 2020 marks the start of a new era for the company. However, test mules often have bodies and shapes that do not represent what the eventual production car will look like (the mid-engine Corvette started as this crazy Holden ute). Although it's alphanumeric, the name MC20 has some depth to it. MC stands for Maserati Corse, and 20 indicates the year 2020. But the MC12 wasn't released in 2012, so what's up? Maserati did this as a nod to its first race car, the Tipo 26, which was produced in 1926. Again, new era, back to its roots, etc.  The MC20 will have an all-new powertrain that has been developed and built by and for Maserati. It is unclear what type of powertrain the vehicle will launch with, but Maserati has confirmed the car will eventually be available as an "electrified version," just like every other Trident from here on out. A Ghibli PHEV is expected to kick things off when it arrives this spring, and we've already heard the sound Maserati's electric vehicles will make. As the MC indicates, Maserati plans to return to racing with the MC20, just as it did with the MC12. Following development in the Innovation Lab we recently featured, the MC20 will be built at the Viale Ciro Menotti plant in Modena, Italy.  The MC20 will debut at the end of May in Modena. More details to come. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Proof that the Maserati-powered Lazareth LM847 quad actually works

The craziest thing about the Lazareth LM847 isn't the 4.7-liter V8 engine sourced from Maserati. It's not the four-wheeled motorcycle design. It's not even the fact that its axles are hinged to allow the machine to lean into corners. No, the craziest thing is that the LM847 actually works. See for yourself in the video up above. Granted, the rider isn't pushing the LM847 very hard. In fact, he may as well be riding a scooter. It's got 470 horsepower and 457 pound-feet of torque, which means it really should be quite fast in a straight line. But considering the 880-pound weight, awkward-looking riding position, single-speed transmission, and the massive amount of torque wrenching the bike to its side when the engine is revved, we don't blame the rider for taking it easy. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Lazareth Auto-Moto via YouTube, Asphalt & Rubber Maserati Automakers Motorcycle Special and Limited Editions Videos lazareth quad