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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.

Ram 1500 Marines-inspired Built to Serve edition wears tank-like green paint

Ram rolled out the latest addition to its military-inspired Built to Serve lineup of trucks right before Thanksgiving. Based on the hot-selling 1500, it's available in two distinct colors named Tank and Flame Red, respectively. Each branch of the U.S. armed forces is getting a variant of the truck, and the newest member of the range honors the Marine Corps. Like the three previously-unveiled 1500s, it receives a decal of the American flag and Built to Serve stickers on each quarter panel, black exterior trim pieces, body-colored fender flares, and 20-inch aluminum wheels finished in a shade called Technical Gray. Ram expects active-duty service members and veterans will scoop up most of the production run, so it added Velcro panels on the side of each front seat that let motorists display the patch of their choice, whether it's a flag, a name badge, or a unit insignia. It also added front sport seats upholstered in cloth and vinyl, all-weather floor mats, and an emblem on the dashboard, while the Marines-inspired model gets Medium Greystone accent stitching. Buyers can combine the Built to Serve appearance package with all body styles and powertrains, even if they haven't served in the armed forces. Every truck comes with the 4x4 Off-Road Group, which bundles features like all-terrain tires, an electronic-locking rear axle, hill descent control, tow hooks, and four thick skid plates. Ram will start taking orders for the latest Built to Serve 1500 in December 2020, and production is scheduled to start in early 2021 at the firm's Sterling Heights, Michigan, plant. Pricing information hasn't been published yet, but production will be limited to 1,000 trucks finished in Tank and an additional 1,000 units painted Flame Red. The fifth and final member of the range, honoring the Coast Guard, will be unveiled in early 2021.  Related Video:

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