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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.

Stellantis and LG launch joint venture for North American battery plant

Stellantis has struck a preliminary deal with battery maker LG Energy Solution (LGES) to produce battery cells and modules for North America, as the world's No. 4 automaker rolls out its 30 billion euro ($35 billion) electrification plan. Global automakers are investing billions of euros to accelerate a transition to low-emission mobility and prepare for a progressive phase-out of internal combustion engines. Stellantis and LGES's joint venture will produce battery cells and modules at a new facility with an annual capacity of 40 gigawatt hours (GWh), the two firms said on Monday. No financial details of the deal were provided. The plant is scheduled to start production by the first quarter of 2024, with groundbreaking expected in the second quarter of 2022, the companies said in their statement. Its location is under review and will be announced later. Stellantis, formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, has said it wants to secure more than 130 GWh of global battery capacity by 2025 and more than 260 GWh by 2030. The batteries produced under the deal will supply Stellantis' U.S., Canadian and Mexican assembly plants for installation in hybrid and fully electric vehicles, supporting its goal of e-vehicles making up more than 40% of its U.S. sales by 2030. The company, whose brands include Peugeot, Fiat, Opel and U.S. best-sellers Jeep and Ram, earlier this year announced it would invest more than 30 billion euros through 2025 on electrifying its vehicle lineup. Stellantis has said it would build three battery plants in Europe and two in North America, including at least one in the United States. Intesa Sanpaolo analyst Monica Bosio said the deal was positive, and a further step ahead in Stellantis' electrification process. It comes weeks after Stellantis and its partner TotalEnergies agreed to open up their battery cell joint venture ACC to Daimler, to expand their European sourcing of battery cells. Stellantis is also targeting more than 70% of sales in Europe to be of low-emission vehicles by 2030, and aims to make the total cost of owning an EV equal to that of a gasoline-powered model by 2026. Related video: Green Plants/Manufacturing Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Maserati RAM Citroen Lancia Opel Peugeot Vauxhall Electric Hybrid EV batteries LG

Everything we know about the 2018 Jeep Wrangler JL

The 2018 Jeep Wrangler JL is perhaps the most highly anticipated SUV in America. The next-gen Wrangler is expected to get a host of updates that include new front and rear end designs, as well as an all-new pickup truck variant. Here's everything we know about the next version of Jeep's iconic SUV. November 7, 2016: JL Wrangler Forums released renderings of the 2018 Wrangler, and the SUV will generally stay the course. Compared with the current Wrangler, the new one will likely have slightly more aerodynamic bodywork and LED lighting, and the truck version's bed will carry traditional Wrangler design cues. The renderings also visualize what a Wrangler without a fully removable top could be like. The loss of the removable top is currently a rumor, and FCA's well-camouflaged prototypes have not given up the secrets of the roof. View 6 Photos October 18, 2016: Images of the upcoming Wrangler JL from a supposed Jeep dealer meeting surface, revealing the SUV's updated front and rear end design. The renderings point towards the next-gen Wrangler maintaining a seven-slot grille and round headlights. The SUV, though, will obtain LED light bars on the front fenders, while the taillights get a similar design to the units found on the Renegade crossover. Overall, the renderings display a smoother shape than ever before. September 16, 2016: A report from JL Wrangler Forums indicates that the next-gen Wrangler JL would utilize aluminum on the hood, as well as on the front and rear doors. The report claims the Wrangler will get its aluminum from supplier Alcoa, in the form of the company's C6A1 high form alloy, 6022 alloy sheet, and A951, which is the company's sheet bonding technology. View 30 Photos July 20, 2016: The first images of the Wrangler pickup truck hit the web. The pickup truck appears to be riding on a long-wheelbase Wrangler and flaunts a decently sized bed. From the overhead photos, we can see that the pickup truck will have a seven-slot grille, large rear taillights that mimic ones found on Ram's trucks, and be about the same size as a Chevrolet Suburban. Oh yes, the Wrangler pickup truck does exist and it's coming. July 10, 2016: A report from Automotive News claims that the Wrangler JL will continue to have its iconic, boxy shape, but changes have been made to ensure that the SUV is better off in terms of fuel economy. What Jeep has done to improve the next-gen Wrangler's fuel efficiency, though, is still a mystery.