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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.

MotorWeek remembers a better time for Mitsubishi performance

Dodge still knows how to create an capable performance car – look at the Hellcats, for example – but the same isn't true for Mitsubishi. With the Lancer Evo's demise, we don't expect driving enthusiasts to clamor for any of the Japanese automaker's other products. Things used to be different, though. As MotorWeek found in its new Retro Review, the 1991 Mitsubishi 3000GT VR4 and its sibling, the Dodge Stealth R/T Turbo, were impressive sports coupes in their day. Dodge and Mitsubishi packed a bevy of cutting-edge tech into the coupes. In these trims, both sported all-wheel drive, four-wheel steering, an adjustable suspension, active exhaust, and automatic climate control. The 3000GT VR4 upped the ante even more with active aero parts at the front and rear. Their 3.0-liter twin-turbo V6 was good for 300 horsepower and 307 pound-feet, which were good numbers at the time. This pair put all their gizmos to good use, too. MotorWeek compares the all-wheel-drive system's grip levels to a Porsche 911 Carrera 4. When was the last time you heard any favorable similarity between a Mitsubishi and a Porsche? The Stealth R/T Turbo and 3000GT VR4 came from a special time for Japanese sports coupes, when every brand had a halo model. Whether you were looking at Nissan 300ZX, Mazda RX-7, Toyota Supra, or even the Acura NSX, there was a lot to like on the market. MotorWeek's latest Retro Review offers a great reminder of that period.

The Dodge Demon is leaked in Fast 8 video with Vin Diesel

It's only week two of the twelve-part Dodge Demon teaser roll out, and it already appears the metaphorical Hellcat is out of the bag. A YouTube video featuring Vin Diesel discussing The Fate of the Furious ( Fast 8) has what are almost certainly two Dodge Challenger Demons parked right in the background. So much for three months worth of build up and mystique. The two cars in the video appear to have the new logo affixed to the fender, right where the current Hellcat logo resides. In addition, the wheels and the massive hood scoop both appear to be the same relative shape as the ones briefly flashed in the latest teaser video. While we can't be 100 percent certain this is really a Demon, all the evidence points to yes. Even if this spoiled Dodge's plans, actually seeing the car here makes us even more excited for the full reveal. We still don't know all the final specs, save that it'll be 200 lbs lighter, so there is still some mystery to be had. The Challenger and Charger Hellcat twins, some of the most brazen and brutish machines currently on the road, were already cranked up to 11. The Demon, with its wide fender flares and comically large hood scoop looks makes the standard car look tame by comparison. We can't wait. Related Video: News Source: YouTube Design/Style Dodge Coupe Performance dodge demon Vin Diesel dodge hellcat dodge challenger hellcat