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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.

Marchionne may stay with FCA until 2020

We might get to see Sergio Marchionne and his vast array of sweaters in the auto industry for even longer than expected. The FCA CEO suggested last year that he would retire from the automaker when its current five-year plan was complete in 2018. Now, he has tentatively extended that point out to at least 2020. "I can do this for another five years if you push me, right? Beyond that, I ain't gonna do it, and I don't want to," he said to Automotive News. That would give Marchionne a 16-year career at the top from joining Fiat in 2004 to possibly leaving FCA in 2020. Although, take the CEO's statement with a grain of salt because he has made multiple statements about the timing for his retirement. In 2012, Marchionne said he would only remain in charge until 2015, which is, well, now. Those five years might also go quite quickly because Marchionne is a busy guy with the Ferrari IPO, the attempted merger with General Motors, implementing FCA's five-year plan, and many other projects. He's already considering the next CEO, though. "My purpose in life is to find the Kuniskises of the world, the Manleys, the Biglands, the Palmers," Marchionne said to Automotive News, referencing the heads at Dodge, Jeep, FCA North America, and the company's chief financial officer, respectively. "I told them, 'One of you is going to do what I do one day. I don't know who that is, but one of you is going to do it.'" News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Photo Chrysler Dodge Fiat Jeep Sergio Marchionne FCA fca us Mike Manley reid bigland tim kuniskis

Here's how to build the Hellcat-powered Dodge Magnum/Charger widebody wagon of your dreams

Dodge would undoubtedly offer a fire-breathing, Hellcat-powered variant of the Magnum if the model was still in production. It retired in 2008, and it's not coming back anytime soon, so Las Vegas-based tuner Jaye Fab is taking the matter into its own hands. It's developing a conversion kit that transforms an unsuspecting Magnum into a wide-bodied Charger wagon, and it plans to make it available to the public in the near future. If the name Jaye Fab sounds familiar, it's likely because it already made headlines in 2015 when it grafted the front end of a Charger onto a Magnum, gave the wagon a coat of can't-miss-it red paint, and drove it to SEMA. Its latest project takes the concept of a modern-day Dodge wagon a step further with a full body kit that includes wide fender flares and side skirts, among other add-ons. It's a work in progress, but we can already tell it's going to turn more than a few heads when it's finished. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. We don't know which engine the donor Magnum was powered by when it drove into Jaye Fab's shop. What's more interesting is the one it will leave with: a supercharged 6.2-liter Hellcat V8 from a Charger. The eight-cylinder develops 707 horsepower and 650 pound-feet of torque in its standard configuration, and we wouldn't be surprised if it picks up a few additional horses before Jaye Fab lets it loose on the streets of Las Vegas. The firm has done a stellar job at documenting the build on its Instagram account, and AutoEvolution learned it plans to make the kit available to Magnum owners who want a more modern-looking front end in the not-too-distant future. The mighty Hellcat V8 isn't included, but Mopar sells crate engines in search for tires to roast.