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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.

Ferrari to stop supplying Maserati with its engines

The Ferrari Q1 earnings call was full of information, and perhaps the biggest revelation was that Ferrari is going to stop supplying engines to Maserati. CEO Louis Camilleri broke the news, and The Motley Fool posted a transcript of the whole call online. "Eventually, we will no longer supply engines to Maserati, which actually from our perspective is actually a good thing, both from a margin perspective, but also the fact that we can transfer a lot of the labor that's been focused on the engines to the car side of the business," Camilleri says. Maserati has used Ferrari engines (arguably, one of the most compelling reasons to buy a Maserati) in its vehicles since 2002, a little while after Fiat passed Maserati off to the prancing horse. The partnership continued as both Ferrari and Maserati were under the same house at FCA. Then when Ferrari was spun off from FCA in 2015, they kept the supply steady to Maserati. Those engines include a 3.8-liter twin-turbo V8, 3.0-liter twin-turbo V6 and a 4.7-liter naturally aspirated V8. Camilleri said Ferrari will officially stop in 2021 or 2022, with no intention of supplying anybody with engines beyond that. Of course, this leaves Maserati high and dry with no engines for its growing lineup. Maserati will have to reach into the FCA parts bin, find a new outside supplier or develop its own engines. Battery electric sounds out of the question. As of now, there doesn't appear to be a clear plan going forward. We've reached out to Maserati to see if they have any comment on the situation as it stands.

Maserati Levante Trofeo gets a twin-turbo V8 transplant from Ferrari

With 590 horsepower and 538 pound-feet of torque, the 3.8-liter twin-turbocharged V8 engine powering the all-wheel-drive Levante Trofeo boasts more power-per-liter than any engine previously installed in a Maserati. Not surprisingly, the engine and its 156-hp-per-liter output are the product of the men from Maranello. The Ferrari-built V8 pushes the Levante Trofeo to 60 miles per hour in 3.7 seconds and on to a top speed of 187 mph. Big power isn't all that makes the Trofeo special. Maserati says its top-shelf Levante boasts a 50:50 weight distribution and a Corsa (race) mode, which means this 'ute ought to be a mighty fine steer. Launch control makes the ludicrous acceleration a repeatable affair, should drivers so desire to rearrange the faces of their passengers at every green light. Maserati Integrated Vehicle Control is supposed to seamlessly prevent driver mistakes instead of correcting them after the fact, as a traditional stability control system would do. In what we assume must be a joke, there's also an Off-Road mode. The interior of the Levante Trefeo is swathed in what Maserati calls "Pieno Fiore" natural leather that is supposed to wear uniquely with age. It's offered in black, red, and tan, all with contrast stitching. The limited launch edition you see here has massive 22-inch matte-finish wheels, matte black paint, glossy carbon fiber exterior bits and matte carbon interior trim. It'll come with a plaque featuring the owner's name and a serial number, but Maserati is only saying a "small number" will be built without giving an exact figure. We'll have to wait for official pricing information and availability, but we're sure it won't come cheap. Related Video: