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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.

Automotive News Recap for the week of 9.2.16 | Autoblog Minute

A look back at the week in automotive news, including spy shots of the next-gen Mercedes-Benz GLE SUV, and a look at the 2017 Jeep Grand Cherokee Trailhawk that is soon to hit dealers in the United States. Jeep Mercedes-Benz Autoblog Minute Videos Original Video mercedes-benz gle trailhawk

Jeep Yuntu three-row crossover spied testing on public roads

Jeep is doing very well, especially compared to most other FCA brands. Still, there's a three-row sized hole in the automaker's lineup. In April 2017, the Jeep Yuntu made its debut at the Shanghai Auto Show. While that plug-in hybrid was just a concept, we now have a second set of spy shots showing that a road-going Yuntu is deep into development. Even with the black and white camouflage, there's no mistaking this for anything other than a Jeep. The new model looks like a larger Grand Cherokee with styling elements cribbed from the new Compass and refreshed Cherokee, though the profile unsurprisingly reminds us of the Dodge Durango (essentially a three-row Grand Cherokee). The thin headlights and taillights have made it over from the concept, though both are toned down for the production version. A three-row Jeep is all but officially confirmed for the US. The real question is what it will be called. We doubt Americans will fall head over heels for a American vehicle named the Yuntu. Reviving the Wagoneer or Grand Wagoneer nameplates seems far more likely. We can only speculate on powertrains, but considering the Yuntu concept was a plug-in hybrid, expect some flavor of electrification. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.