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Stellantis wants to outfit cars with AI software to drive revenue

MILAN — Carmaker Stellantis announced a strategy Tuesday to embed AI-enabled software in 34 million vehicles across its 14 brands, hoping the tech upgrade will help it bring in 20 billion euros ($22.6 billion) in annual revenue by 2030. CEO Carlos Tavares heralded the move as part of a strategy that would transform the car company into a “sustainable mobility tech company,” with business growth coming from features and services tied to the internet. That includes using voice commands to activate navigation, make payments and order products online. The company is expanding existing partnerships with BMW on partially automated driving, iPhone manufacturer Foxconn on customized cockpits and Waymo to push their autonomous driving work into light commercial vehicle delivery fleets. StellantisÂ’ embrace of artificial intelligence and expansion of software-enabled vehicles is part of a broad transformation in the auto industry, with a race toward more fully electric and hybrid propulsion systems, more autonomous driving features and increased connectivity in automobiles. Ford and General Motors also are banking on dramatically increased revenue from similar online subscription services. But the automakers face immense competition for monthly consumer spending from movie and music streaming services, news outlets, Amazon Prime and others. Stellantis, which was formed from the combination of PSA Peugeot and FCA Fiat Chrysler, said the software would seamlessly integrate into customers' lives, with the capability of live updates providing upgraded services over time. New products will include the possibility to subscribe to automated driving features, purchase usage-based car insurance or even increase the power of the vehicle with a tune-up to add horsepower. As a baseline, Stellantis generates 400 million euros in revenue on software-generated services installed in 12 million vehicles. To meet the targets, Stellantis will expand its software engineering team of 1,000 to 4,500 in North America, Asia and Europe. More than 1,000 of the expanded team will be retrained in house. Stellantis also announced a new partnership with Foxconn to develop semiconductors to cover 80% of the companyÂ’s needs and simplify the supply chain. The first microchips from the partnership are targeted to be installed in vehicles in 2024.

Sebastian Vettel captures Belgian Grand Prix

SPA-FRANCORCHAMPS, Belgium – Ferrari's Sebastian Vettel sped away from first corner carnage to celebrate a commanding Belgian Grand Prix victory on Sunday and trim Lewis Hamilton's Formula One lead to 17 points with eight races remaining. Hamilton, last year's winner in Belgium, started from pole position but finished second for Mercedes while Red Bull's Max Verstappen gave his army of Dutch fans something to cheer with third place. In the battle of four-times world champions, Hamilton now has 231 points to Vettel's 214. "I had a great start, I'm not sure Lewis saw me as he pushed me to the left in the first lap, but after last year I ended up short, and this year it was the other way around," said Vettel of his decisive pass on Hamilton. "As soon as I was ahead I relaxed. I had a good restart after the safety car, and after that it was a very smooth race," he added. The start provided most of the afternoon's excitement, with Fernando Alonso's McLaren flying over Charles Leclerc's Sauber at the La Source hairpin after being rammed by Renault's Nico Hulkenberg. All three retired as the safety car was deployed for four laps but Leclerc had reason to thank the 'halo' head protection system -- introduced this season -- for allowing him to step away unscathed. Television close-up images after the race showed the structure heavily marked by the impact. "The Halo was a very good thing to have today. I think for him, it helped," commented Spaniard Alonso, who will be leaving Formula One at the end of the season. Ferrari's Kimi Raikkonen, a four times winner in Belgium, and Red Bull's Daniel Ricciardo also collided at the start and retired after pitting, the Finn having to wait for his 100th career podium. At the front, Vettel swiftly seized the lead from Hamilton down the Kemmel straight on the opening lap and never looked back, taking the checkered flag 11.0 seconds clear of Hamilton. "He drove past me like I wasn't even there on the straight," said Hamilton, who was quick to shake his rival's hand and offer congratulations. "They have got a few trick things going on in the car," he added. "I did what I could, we did what we could so we have to keep working." It was the German's fifth win of the campaign, matching his British rival, and 52nd of his career -- one more than the great four times champion Alain Prost managed. Hamilton's team mate Valtteri Bottas finished fourth, and set the fastest lap, after starting 17th.

Ferrari profits rise 46 percent in 2018

MILAN — Italian luxury sports car maker Ferrari says profits last year rose 46 percent, driven by a surge in V12 sales and vehicle personalization. Ferrari on Thursday reported 2018 net profit of 787 million euros ($904 million), up from 537 million euros the previous year. Shipments rose 10 percent to 9,251 vehicles, while net revenues were flat at 3.4 billion euros. Ferrari set a forecast for 3-percent revenue growth to over 3.5 billion euros. It did not provide a shipment forecast. Sales of 12-cylinder models surged 20 percent, led by the 812 Superfast, while sales of 8-cylinder models rose 8 percent. Sales rose across the globe, with double-digit increases posted in Europe and greater China. The carmaker said fourth-quarter profits rose 40 percent to 191 million euros.Related Video: