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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.

Maserati gives us our best look yet at its Grecale small crossover

Maserati's second SUV, the Grecale, is nearly ready to make its debut. The company took advantage of a visit by Stellantis boss Carlos Tavares to release some of the most revealing photos of the model we've seen to date. While the Porsche Macan-fighting soft-roader remains fully draped in camouflage, we see enough of its front end to tell there's a wide, low-mounted grille with vertical slats and almond-shaped headlights located higher on the fascia. We'll hold our judgment until the Grecale is unveiled, but we're starting to see what Klaus Busse, the head of Maserati's design department, meant when he told Autoblog the MC20 would have big influence on future models. Viewed from the side, even with Tavares standing in the frame, it's clear that the Grecale's proportions were drawn with more of an emphasis on sport than on utility. Its front end is relatively long, its dash-to-axle ratio hints at the rear-wheel-drive platform underneath, and its roofline has more slope than the average kid-and-dog-hauling Ikea warrior. Earlier spy shots taken near Maserati's headquarters suggest the rear end wears horizontal LED lights. Unverified rumors claim the Grecale rides on an evolution of the Giorgio platform that Alfa Romeo's Stelvio (one of the better-handling crossovers on the market) and Giulia models are built on. Some reports warned the architecture would be phased out, but Alfa Romeo CEO Jean-Philippe Imparato suggested they're not accurate. If the Grecale is indeed Giorgio-based, it will likely come standard with rear-wheel-drive, and it will be offered with all-wheel-drive at an extra cost. Engine options remain unconfirmed; four- and six-cylinders can easily fit in Giorgio-based cars. Maserati will finish fine-tuning the Grecale in the summer of 2021, and it will present the model before the end of the year. When it lands, the Grecale will slot beneath the Levante as a taller alternative to the Ghibli. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Maserati expands Quattroporte cable recall to 1,000 units

It was nearly two years ago that Maserati issued a recall for a number of Quattroporte sedans. At the time, the recall only affected 63 units in the United States. But now the Italian automaker has broadened that campaign to include nearly 1,000 examples across the country. The issue in question is related to the battery positive cable for the alternator and starter motor, the insulating cap of which may not have been installed correctly. The cable may not have been secured properly in the engine bay, too. According to the statement below from the National Highway Traffic Safety Administration, the problem could increase the likelihood of the cable shorting out, causing the wiring harness to overheat and potentially start a fire, or the engine to stall and potentially cause the vehicle to crash. The expanded recall still only affects certain examples of the 2014 Maserati Quattroporte GTS with the V8 engine – namely those manufactured between October 1 and December 31, 2013. That now includes an estimated 984 vehicles in the United States, the owners of which can expect to hear from their local dealer to have the cable inspected and, if necessary, replaced. Related Video: RECALL Subject : Starter Motor Cable may Short to Ground Report Receipt Date: OCT 21, 2015 NHTSA Campaign Number: 15V686000 Component(s): ELECTRICAL SYSTEM Potential Number of Units Affected: 984 Manufacturer: Maserati North America, Inc. SUMMARY: Maserati North America, Inc. (Maserati) is recalling certain model year 2014 Quattroporte GTS V8 vehicles manufactured October 1, 2013, to December 31, 2013. In the affected vehicles, the battery positive cable for the alternator and starter motor may not have its insulating cap installed properly at the starter motor. Additionally, the cable may not be adequately secured in the engine bay. These factors may result in the cable shorting to ground. CONSEQUENCE: If the battery positive cable shorts to ground, the wiring harness may overheat, resulting in a fire. The car also may stall, increasing the risk of a crash. REMEDY: Maserati will notify owners, and dealers will inspect the vehicle to verify that the starter motor cable has a properly installed protective cap and that the cable is adequately secured. If not, the starter motor cable assembly will be replaced. These repairs will be performed free of charge. The recall is expected to begin November 11, 2015. Owners may contact Maserati customer service at 1-201-816-2600.