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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 Ghibli 334 Ultima First (and Final) Drive Review: Arrivederci V8

BORMIO, Italy – Maserati has sold more than 100,000 cars with a V8 engine. Its smallest V8s had 3.2 liters of displacement; its biggest were 4.9-liter units. Its first V8 powered the rare, short-lived V8RI race car released in 1935; its final V8s will be built in December 2023 for the Ghibli, Quattroporte and Levante. After that, the curtains come down. Officially, the Italian brand explains its new, 3.0-liter Nettuno V6 (a brilliant engine thatÂ’s twin-turbocharged to 621 horsepower and 538 pound-feet of torque in the MC20) leaves nothing to be desired in terms of performance. Privately, insiders also cite looming emissions regulations in key markets as a reason for finally hopping on the downsizing train. Will the V8 ever come back? “Never say never,” IÂ’m told, though a return isnÂ’t planned as of this writing. To hell with heritage; the cost of summoning a dark cloud of disapproval from regulators around the world outweighs whatever benefits Maserati would reap by saving the V8 in the name of tradition. ItÂ’s the end of the V8 era, then, and Maserati is commemorating it with two limited-edition models called Ghibli 334 Ultima and Levante V8 Ultima, respectively. The Quattroporte is available with a V8 as well, but a special-edition version of the big sedan isnÂ’t in the pipeline because Maserati wanted to focus on its better-selling models. In both cases, the Italian company has saved the best for last. The Ghibli 334 Ultima stands out with an edition-specific color called Persia Blu, 21-inch Orione wheels, Pirelli P-Zero tires made using a stickier compound, and several carbon fiber bits (such as the door mirror caps) that save about 55 pounds. The Rubino Red “334” logo painted on each fender denotes the new top speed: 334 kilometers per hour, which represents about 207 miles per hour and makes the 334 faster than the Trofeo itÂ’s based on by 5 mph — itÂ’s also the fastest sedan on the market. The previous title holder, BentleyÂ’s Continental Flying Spur, tops out at 333 kph, which also converts to about 207 mph, but Maserati is Italian and uses the metric system to measure its bragging rights. The sedanÂ’s 0-to-62-mph time drops from 4.3 to 3.9 seconds, but the engine remains the same: ItÂ’s the tried-and-true 3.8 rated at 572 horsepower and 538 pound-feet of torque. Inside, the 334 Ultima comes with two-tone Pale Terracotta and black upholstery that echoes some of MaseratiÂ’s classic models without going full-on retro.

Maserati Ghibli reportedly dies in 2023

When Maserati debuted the Ghibli sedan at the 2013 Shanghai Motor Show, the executive tourer was meant to establish itself as a sporty alternative to the BMW 5 Series set and help Maserati increase its global sales eightfold. Neither of those happened. The product push didn't materialize, and the Ghibli failed at its task because it never managed to be the smooth, dynamically masterful Italian it could have been, its rough edges inexcusable in a sedan that once started at about $76,000 and is now nearly $80,000 after destination. Even so, we never wished the Ghibli ill, we wished Maserati would sort it out. That's not going to happen, according to Automotive News. The outlet's product page for the Ghibli says, "Production is expected to continue through 2022 on the sedan, which will not be replaced." Assuming this happens and the Ghibli takes a final ride into the sunset in 2023, it will have had ten years on the market. The model launched Maserati's electrification push, the Ghibli Hybrid and its 48-volt mild-hybrid system coming online last year but not for sale in the U.S. market. At the same time, the model finally acquired the raucous V8 one would have expected at launch or shortly after, in the guise of the Trofeo trim we do get.   Like all other automakers, though, Maserati has a huge to-do list over the next five years, and it can't coddle laggards. Last year, the automaker's product roadmap called for a pile of new and new-generation models. The MC20 flagship is out, the Grecale crossover is due early next year in ICE and battery-electric forms, followed by the new GranTurismo and GranCabrio with ICE and EV powertrains, plus the MC20 Spider and pure-electric MC20. In 2023, the new Quattroporte will return that nameplate's former glory as the only sedan in the lineup, followed by a new Levante, both with internal combustion and electric powertrains. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Maserati MC20 supercar plays in the snow