Stellantis earnings rise as electric vehicle sales expand

AMSTERDAM (AP) — Automaker Stellantis has reported higher earnings in the first half of 2022 compared with last year, pointing to a nearly 50% increase in global sales of battery electric vehicles. The world’s fourth-largest automaker says net revenue reached 88 billion euros. That’s a 17% increase from the first half of last year. Net profit hit 8 billion euros, up 34%. Car shipments slipped 18% in Europe amid problems acquiring computer chips during a global shortage, but they rose 10% in North America. Stellantis was formed last year with the merger of Fiat Chrysler and France’s PSA Peugeot.