Stellantis earnings rise as EV push drives higher sales

AMSTERDAM (AP) — Automaker Stellantis says earnings grew in 2022 from a year earlier and its push into electric vehicles led to a jump in sales even as it faces growing competition from the industrywide shift. The company says net revenue of 179.6 billion euros was up 18% from 2021. It reported net profit of 16.8 billion, 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 says the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier.