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The Independent UK
The Independent UK
National
Via AP news wire

FORGOTTEN HISTORY: Stellantis earnings rise as ev push drives higher sales - The Untold Story

Stellantis United States electric vehicle Jeep Ram
Copyright 2023 The Associated Press. All rights reserved.

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 France’s PSA Peugeot, said net revenue of 179.6 billion euros 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.

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