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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.

The first $2.5M Ferrari F60 America arrives in Palm Beach

There's a rather happy-looking individual in Palm Beach today. And well he should be. After all, he just took delivery of the very first Ferrari F60 America. Can't remember the F60 America? We can hardly blame you, seeing as how it has been well over a year since Ferrari first unveiled it in Beverly Hills back in October 2014. It's not the successor to the F40 and F50 as the name might suggest – that role having already been taken by the Enzo and LaFerrari – but rather a special take on the F12 Berlinetta. It features a unique roadster bodystyle, an evocative (if not downright retro) blue and white NART livery, and the 6.3-liter V12 in 730-horsepower spec that would later appear in the F12 TdF. It's a worthy successor, in short, to previous front-engined V12 roadsters from Maranello, like the 550 Barchetta, 575 Superamerica, and 599 SA Aperta. The Prancing Horse marque set out to build only ten examples, each destined for these shores, in celebration of Ferrari's 60 years in the US market. Despite the shocking $2.5 million sticker price, all of them were spoken for before it was even unveiled. The first was finally delivered on Monday to its eagerly awaiting owner during the 25th annual Palm Beach Cavallino Classic, in front of some of the country's top Ferrari collectors and aficionados. The first F60 America consigned Palm Beach, 25th January – The first F60 America was delivered this weekend to the delight of a discerning crowd of Ferrari collectors and enthusiasts during the 25th annual Palm Beach Cavallino Classic. This strictly limited-edition car, which was produced to commemorate the 60th Anniversary of Ferrari in America, is the first of just ten to be delivered nationwide. The car pays homage to American clients' great passion for both the V12 engine and open-top driving. The F60 America's bodywork adopts the classic North American Racing Team livery, and the special Ferrari 60th Anniversary Prancing Horse badge on the wheelarches appears on the tunnel in the cockpit. This beautiful example in Blu Nart livery – Bianco Italia looked instantly at home under the azure Florida sky. Featured Gallery Ferrari F60 America: First Delivery News Source: Ferrari Ferrari Car Buying Convertible Supercars ferrari f60 america

Ferrari's 986-hp mid-engine hybrid supercar stays bundled up in spy shots

With less than a week to go until its debut for VIP clients, Ferrari remains engaged in testing its hybrid V8 supercar. As these spy shots show, the Italian carmaker still insists on giving nothing away. The photographer wasn't able to figure out any more details, noting only that the camo panels were decorated with yellow triangles warning of electric shocks. The last intel we got came from Auto, Motor und Sport, the German magazine predicting 1,000 PS (metric horsepower), which is 986 of our ponies. That grunt would come from the 3.9-liter twin-turbo V8 borrowed from the F8 Tributo, and three electric motors — two on the front axles, one in the gearbox. All-wheel drive and instant torque would get the coupe from zero to 62 miles per hour in no more than 2 seconds, and cornering prowess will increase thanks to e-motor torque vectoring. Another stroll through the FerrariChat forum says power might be more than the 1,000 CV (cheveaux — metric horsepower again, but in French) indicated even on Ferrari's invitation to the launch event. A member wrote, "The current numbers doing the rounds are 1,050 — 1,100," bettors guessing 720 hp from the V8, roughly 200 combined horses from the front axle motors, and anywhere from 150 to 180 hp from the gearbox unit. That would be 1,080 hp at most, which is 1,095 CV. The looks are inscrutable. It's clear the door handles are in a different place, above the shoulder line, the front brakes calipers are mighty, and the headlights reveal some severe lines. The motorcycle rider who chased the coupe through the hills above Maranello said he saw squared taillights, but allowed that it could have been the shape of the camouflage openings. A Ferrari owners group from France visited the factory and apparently saw the complete bodywork for the hybrid coupe codenamed F173, describing the car as "wide and flat" with "huge rounded intakes" like half circles, a red body and a black glasshouse. On a side note, they also saw the 812 Spider bodywork, and said it's beautiful. Finally, another FC poster wrote that "the name has been already decided and there are very few chances that it will be changed. It will remind us of a Ferrari model launched years ago and also an actual car, a fast one." Depending on when Ferrari plans a public debut, we have anywhere from six days to three weeks left to play with this puzzle.