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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.

SRT pulling Vipers out of Le Mans

Last year, Chrysler campaigned a pair of SRT Viper GTS-Rs in the 24 Hours of Le Mans. It was the first time Auburn Hills had sent a team to the famous French endurance race since 2000, when the Viper ended a three-year winning streak in the GTS class. It finished in 24th and 31st places, woefully behind the Porsche 911 RSR that won the LMGTE Pro category. But this year it won't be back. According to a report from Sportscar365 citing a statement issued by SRT chief Ralph Gilles, the outfit turned down its invitation from the ACO that organizes the race, ending what could have been a multi-year campaign. Instead it's opting to focus on its Stateside campaign in the United SportsCar Championship. SRT sent Autoblog the following statement: "We regretfully and respectfully decline to participate in this year's 24 Hours of Le Mans," said Ralph Gilles, President and CEO of SRT (Street and Racing Technology) Brand and Motorsports, Chrysler Group LLC. "We are honored to once again be invited by the ACO (Automobile Club de l'Ouest) to compete in this historic event, and they were the first to be informed of our decision. We will remain focused on our North American racing program in 2014." In its place, the Ferrari 458 fielded by JMW Motorsport will be invited to fill the last slot in the class, leaving only the Corvette and Dempsey Racing entries to represent the United States in the race this year. "Hopefully, we'll continue to go to Le Mans for many years to come," as SRT's marketing chief Beth Paretta put it when announcing the effort a year ago, "but as a sports-car fan, if you can make the trip even once, it's worth it."

Toyota Land Cruiser, GMC Sierra and the long-term fleet | Autoblog Podcast #558

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski. They talk about driving a pair of short-term test cars, the Toyota Land Cruiser and GMC Sierra AT4, as well as two of Autoblog's long-term test cars, the 2018 Kia Stinger GT and 2018 Chrysler Pacifica Hybrid. Following the test fleet talk is a discussion of a new program from Lyft and the Chinese-market Ford Territory. And of course everything is wrapped up with yet another Spend My Money segment in which we Autoblog editors help a reader choose a car to buy.Autoblog Podcast #558 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Short-term cars: Toyota Land Cruiser and GMC Sierra AT4 Long-term cars: Kia Stinger GT and Chrysler Pacifica Hybrid Lyft subscription program Ford Territory Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Podcasts Chrysler GMC Kia Toyota toyota land cruiser chrysler pacifica chrysler pacifica hybrid kia stinger gt