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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.

It's a V8 party! Lexus IS 500, Cadillac Escalade and more | Autoblog Podcast #667

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. It's all V8s all the time this week, starting with the Land Rover Defender V8 unveiling, Lexus IS 500 F Sport Performance debut and pricing announcement on the Jeep Wrangler 392. Next, they move on to what they've been driving. Spoiler alert: That means more V8 talk. Zac has been driving the Cadillac Escalade with the 6.2-liter V8 and BMW M550i with its 4.4-liter twin-turbo V8. Greg and Zac take a pause from the V8 theme by discussing their shared time in our long-term Acura TLX. From this, they segue into a "Spend My Money" feature about garage lifts to finish the show. Autoblog Podcast #667 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News 2021 Jeep Wrangler Rubicon 392 priced at nearly $75,000 2022 Land Rover Defender bulks up with a 518-hp V8 2022 Lexus IS 500 F Sport Performance brings back the V8 What we're driving BMW M550i Cadillac Escalade Acura TLX Spend my money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video:

FCA to recall 318,000 vehicles for faulty backup camera software

An array of 2019 and 2020 FCA vehicles are being recalled over faulty backup camera software that doesn’t meet federal regulations. According to recall documents, the backup camera may not turn off “until a drive cycle ends.” ThatÂ’s far longer than the 10-second linger time allowed by the rules, so FCA has to recall all of the vehicles to implement a fix. WeÂ’ve listed all of the vehicles involved below. 2020 Jeep Gladiator 2020 Jeep Cherokee 2019-2020 Ram 1500 2019-2020 Ram 2500  2019-2020 Ram 3500 2019-2020 Chrysler Pacifica 2019-2020 Dodge Durango 2019-2020 Jeep Grand Cherokee 2019-2020 Jeep Wrangler 2019-2020 Jeep Renegade 2019 Dodge Challenger ItÂ’s an extensive list encompassing a huge chunk of FCAÂ’s lineup in the United States. In total, FCA is recalling 318,537 vehicles. They must be equipped with the 8.4-inch or 12-inch infotainment system for the problem to present itself. FCA expects the recall to start on May 22 this year and will begin to notify owners soon. To fix the vehicles that may be affected, FCA plans to update the infotainment system at the dealer or over-the-air. If youÂ’ve noticed a screen thatÂ’s sluggish to relinquish its hold on the backup camera feed (or maybe never does), then you have this recall to look forward to. Update: FCA has provided additional information about the repair methodology. Customers will be able to receive an update over the air or have their cars updated at the dealership. Customers will begin receiving notifications this month. Related video: Recalls Chrysler Dodge Jeep Crossover Minivan/Van SUV