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EV cost burden pushing automakers to their limits, says Stellantis' CEO Tavares

DETROIT — Stellantis CEO Carlos Tavares said external pressure on automakers to quickly shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle with EVs' higher costs. Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said. "There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost. Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said. Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm. "Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said. "The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits." Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade. Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from both establishment automakers such as GM, Ford, VW and Hyundai, as well as start-ups such as Tesla and Rivian. The latter electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the highly profitable Jeep and Ram brands. That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035.

Turn up the volume: Flat out in the Dodge Charger Scat Pack

The 2019 Dodge Charger R/T Scat Pack is a rare breed in the car market. It's a reasonably affordable large sedan with a huge honking V8 and rear wheel drive. You know, the perfect car for this Fourth of July. Or any day ending in Y, really. The R/T Scat Pack is the second most powerful version of the sedan with a 6.4-liter naturally aspirated V8 making 485 horsepower and 475 pound-feet of torque. Only the 707-horsepower Hellcat is a more powerful Charger. But power is only part of the story. The other part is the noise. The V8 has a gritty, dirty rumble to it. We recorded it cruising up on-ramps, down shifting, and got a few standing revs out of it. Check out the video to hear for yourself.

2019 Dodge Charger SRT Hellcat Octane Edition fuels your dreams for a limited time

Few automakers love special-edition models quite as much as FCA. It's particularly prevalent in the Jeep and Ram lineups, but other makes get some love, too. Take a look at the new 2019 Dodge Charger SRT Hellcat Octane Edition, a special blacked-out model that's set to arrive at dealerships this fall. The car is available to order now, but Dodge says the books will only be open for a limited amount of time. The Octane Edition is available in two appropriately named colors: Pitch Black and White Knuckle. A pair of matte black stripes run down the middle of the car, flanked on both sides by a thin Octane Red stripe. The 20-inch wheels are painted gloss black and have a knurled bead to keep the tire from slipping on the rim. The Brembo brake package is included, with the six-piston front and four-piston rear calipers painted Octane Red to match the stripes. Inside, the Octane Edition gets houndstooth inserts in the SRT sport seats. There are red Hellcat logos, red seat belts and red stitching on the doors, seats, dash center console and steering wheel. The Octane Package adds $1,495 to the $68,740 base MSRP of a 2019 Charger Hellcat. Like all Hellcat models, the Charger comes with a supercharged 6.2-liter Hemi V8 making 707 horsepower and 650 pound-feet of torque. Power is sent to the rear wheels through an eight-speed automatic. Changes for '19 include a new grille with two inlets to feed more air under the hood. The cars also get launch control, line lock, a cooler for the supercharger as well as a torque reserve system that preloads the supercharger for better launches.