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Stellantis earnings rise as EV push drives higher sales

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Automaker 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 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. 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.

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Stellantis earnings rise along with EV salesStellantis, parent of Chrysler, Jeep, Ram, Dodge, Fiat and Peugeot, has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement.
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