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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.

Chrysler mum on Toledo Wrangler production after meeting Ohio leaders

"Fiat Chrysler remains committed to producing vehicles in Toledo and anticipates employment to remain at current levels."
The future of the iconic Jeep Wrangler in Toledo, OH, remains uncertain after a meeting Thursday between Fiat Chrysler CEO Sergio Marchionne and Ohio government leaders.

Jeep patent filing in China show plans for 3-row Grand Commander

Back in October, we brought you spy shots of a Jeep crossover mule driving around Fiat-Chrysler's headquarters in Auburn Hills, Mich. They appeared to show a prototype version of the Yuntu Concept, a three-row utility vehicle unveiled at the Shanghai Auto Show and designed for China. Now, new patent filings submitted to China's trademark office and originally reported by Chinese-language website AutoHome appear to back that up. They suggest that Jeep will call the model the Grand Commander, add a seventh seat (the Yuntu had six) and will debut it next April in Beijing. While the Yuntu was a plug-in hybrid, the Grand Commander will reportedly be powered by a 2.0-liter turbocharged gasoline engine that makes 270 horsepower, which sounds like the same four-cylinder engine that powers the 2018 Wrangler. But since Jeep has confirmed a plug-in hybrid version of the Wrangler coming for 2020, it's not unreasonable to expect that configuration could come later for the Grand Commander, too, especially considering the Chinese government's push to ramp up production of electric vehicles. The patent filings also list names for other Jeep models in China, including the concept-sounding names Portal and Hyperspace. The Portal was the name Chrysler gave to a pretty nifty electric minivan concept with double sliding bay doors at this year's CES in Las Vegas.Related Video: