Raphael Stevens

Silicon Valley space startup Skylo Technologies raised $37 million through an equity round led by Intel Capital and Innovation Endeavors and joined by the venture funds of BMW and Samsung, Skylo told CNBC.
The company is pursuing the nascent “direct-to-device,” or D2D, satellite communications market. 
“We want ubiquitous connectivity. We just don’t want extra hardware, because that adds complexity,” Skylo CEO Parth Trivedi said.

A Skylo base station in assembly.
Skylo Technologies

Silicon Valley space startup Skylo Technologies landed funding from the corporate venture arms of Intel, BMW and Samsung, as the company aims to bridge the gap between satellite and terrestrial communications.
Skylo raised $37 million through an equity round, the company told CNBC, that was led by Intel Capital and Innovation Endeavors and joined by BMW i Ventures, Next47, Samsung Catalyst Fund and Seraphim Space. The raise brings Skylo’s total equity fundraising to $153 million, with prior investors including SoftBank and DCM.

Founded in 2017 and headquartered in Mountain View, California, the company is pursuing the nascent “direct-to-device,” or D2D, satellite communications market. 
But instead of building next-generation satellites, Skylo aims to provide a network to connect new devices — including low-bandwidth Internet of Things hardware as well as high-bandwidth smartphones — via existing satellites, but without extra antennas or bulky equipment.
“We want ubiquitous connectivity. We just don’t want extra hardware, because that adds complexity,” Skylo CEO Parth Trivedi told CNBC.

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Trivedi said he believes his company can bring the standards-based networks of the telecom industry to the “walled garden” of proprietary satellite technology. His company is working to build a software infrastructure to certify chips and devices as capable of connecting to satellites in orbit.
That way, Trivedi sees Skylo operating as a “roaming partner” to existing cellular networks, effectively rubber-stamping and linking devices made by other connectivity players.

“You’re going to find that this approach is very, very scalable, because the carriers don’t have to change behavior, the users don’t have to change behavior, the satellite operators don’t have to change behavior, and regulators don’t have to change behavior,” Trivedi said.
The company has partnerships with chipset makers including Qualcomm, Samsung, MediaTek and Sony. Already, Skylo has certified a number of those companies’ IoT chips and is in the process of certifying more for wearable devices and smartphones.
“Older phones are not going to be certified on our network. It’s all the new devices that are coming out that have the correct chipset in them and then we work with the [original equipment manufacturer] to get that device certified … by the end of this year, most major smartphone modems will support the Skylo network,” Trivedi said.
Dave Johnson, a managing director at Intel Capital, explained that his fund’s backing is the result of its belief that Skylo is on the leading edge of the D2D satellite opportunity.
“They’ve really smartly used existing infrastructure wherever possible. They’ve also done a very good job of engineering the end-to-end solution, so that it’s seamless and easy for customers to adopt,” Johnson told CNBC.

The quartet of Skylo cofounders, from left: Chief Hardware Architect Andrew Kalman, CTO Andrew Nuttall, CEO Parth Trivedi, and Chief Product Officer Tarun Gupta.
Skylo Technologies

On the other side of Skylo’s network is the base stations that it installs at satellite operator’s gateways. Also known as ground stations, these are the large dish antennas that connect to the company’s satellites in space. Each Skylo base station is essentially a single server rack — which Trivedi said is “very capital efficient” — that the company installs at a gateway. 
So far, Skylo has eight base stations installed at satellite gateways, with partners currently including Viasat, Ligado and TerreStar. Through those satellite operators, Skylo has begun initial service in the U.S., Canada and Europe.

A Skylo base station.
Skylo Technologies

“Sklyo is technically satellite agnostic, so as these different satellite providers come on and start supporting different things they may add other partners to their portfolio,” Johnson said.
Trivedi said that Skylo is generating revenue but declined to disclose details. Skylo has 52 employees and, in addition to its Mountain View headquarters, has offices in Finland and India. More

Coca-Cola posted earnings that met expectations and sales that beat estimates.
Higher prices helped the beverage giant overcome lower volume in North America.

Bottles of Coca-Cola are displayed in San Anselmo, California, on April 24, 2023.
Justin Sullivan | Getty Images

Coca-Cola on Tuesday posted quarterly earnings that met expectations and sales that topped estimates, as higher prices helped the beverage maker overcome a volume decline in North America.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:

Earnings per share: 49 cents adjusted vs. 49 cents expected
Revenue: $10.85 billion vs. $10.68 billion expected

Shares of the company rose less than 1% in premarket trading.
Coke reported fourth-quarter net income of $1.97 billion, or 46 cents per share, down from $2.03 billion, or 47 cents per share, a year earlier.
Excluding items, the company earned 49 cents per share.
Net sales rose 7% to $10.85 billion. Coke’s organic revenue, which strips out acquisitions and divestitures, climbed 12% in the quarter.
Coke reported unit case volume growth of 2% for the quarter. The metric excludes pricing and foreign currency.

However, North American volume shrank 1%, as demand for Coke’s water, sports drinks, coffee and tea fell. For comparison, rival PepsiCo saw volume for its North American beverage unit fall 6% in the fourth quarter. Pepsi executives said high borrowing costs and lower personal savings squeezed consumers’ budgets, leading shoppers to seek out private-label options or smaller pack sizes.
For 2024, Coke is forecasting organic revenue growth of 6% to 7% and an increase in comparable earnings per share of 4% to 5%. The company expects that foreign exchange rates will weigh on both its earnings and revenue for the full year.
Looking to the first quarter, Coke is anticipating a 4% headwind from currency exchange rates on its comparable revenue. The company also expects foreign exchange to slow its earnings per share growth, and anticipates an 8% hit from currency changes during the period.
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Tiger Woods and TaylorMade have signed an apparel deal.
The deal comes after Woods walked away from a 27-year partnership with Nike.
Woods already has an equipment deal with TaylorMade that has him playing with the brand’s driver, fairway woods, irons and wedges.

Tiger Woods speaks during the launch of Tiger Woods and TaylorMade Golf’s new apparel and footwear brand “Sun Day Red” at Palisades Village on February 12, 2024 in Pacific Palisades, California.
Kevork Djansezian | Getty Images Sport | Getty Images

Tiger Woods and TaylorMade have made it official. The golf great has agreed to create a new apparel and footwear performance and lifestyle brand with the Carlsbad, California company following his recent split with Nike.
The brand, Sun Day Red, will be available first only online beginning in May. “Life changes and this is important transition and I wanted to have a brand that I was proud of going forward,” Tiger said.

Woods says the name of the brand “Sun Day Red” is a tribute to the fact that he’s always worn red on Sundays. The tiger logo is a tribute to the 15 majors he has worn over the course of his career.
TaylorMade and Woods announced the news Monday night during a press event in Pacific Palisades, California, ahead of the PGA Tour’s Genesis Invitational, an event he hosts.
“It’s the right time,” Woods said, appearing in a cashmere sweater from the new brand.

Tiger Woods partners with TaylorMade to launch “Sun Day Red” lifestyle and performance brand.
Ethan Gulley/Sun Day Red

Woods’ relationship with TaylorMade dates back to 2017, when the two signed an equipment deal that has him playing with the brand’s driver, fairway woods, irons and wedges.
Woods said he was courted by other companies but he trusted TaylorMade for their ability to “get it right.”TaylorMade CEO David Abeles said Woods had been an inspiration for his team, including his discipline and meticulous approach to product design.The new brand includes an entirely new company with separate headquarters and employees who are solely focused on its development, Abeles said.

“There is no influence from TaylorMade on this brand. His brand stands alone and is independent from TaylorMade,” Abeles said.

A detail of hats and a club cover during the launch of Tiger Woods and TaylorMade Golf’s new apparel and footwear brand “Sun Day Red” at Palisades Village on February 12, 2024 in Pacific Palisades, California. 
Kevork Djansezian | Getty Images Sport | Getty Images

Last month, Woods announced his split from longtime apparel partner Nike after 27 years. Woods’ agent, Mark Steinberg, told CNBC at the time that the golfer made the business decision not to renew with Nike.
The 15-time majors winner’s brand exposure today is less than it once was at the height of his career. Woods has been plagued with a series of injuries following his 2021 car crash near Los Angeles, in which he suffered multiple leg injuries. Since then, the 48-year-old has made rare appearances at major golf tournaments, and his play has been unsteady.
Yet, the deal is still a major win for TaylorMade. Woods still has a lasting legacy, experts say, and continues to draw massive crowds as fans hope to catch a glimpse of one of the greatest golfers of all time.
“Michael Jordan is still Michael Jordan, and Air Jordans still do very well,” said Eric Smallwood, president of Apex Marketing Group, invoking the basketball Hall of Famer for comparison.
Apex has tracked Woods’ brand exposure over the course of his career. Smallwood said the golfer’s TaylorMade deal will be a “huge lift” for its brand.

A shoe detail during the launch of Tiger Woods and TaylorMade Golf’s new apparel and footwear brand “Sun Day Red” at Palisades Village on February 12, 2024 in Pacific Palisades, California.
Kevork Djansezian | Getty Images Sport | Getty Images

While Woods can be seen less frequently on the golf course, he has taken on ownership of a new indoor, tech-focused golf league with Rory McIlroy called TGL. That’s expected to kick off next year and has a broadcast deal on ESPN, which could be a big boost for TaylorMade.
Speculation around a Woods-TaylorMade partnership has swirled for months. TaylorMade created a new LLC called TaylorMade Lifestyle Ventures last March, according to Josh Gerben, a trademark attorney at Gerben Law. Then in June, the company began filing trademarks including SUNDAY RED, a logo for SUN DAY RED, a tiger logo and a tiger logo with the letters S, D, R.
Gerben told CNBC it’s likely that TaylorMade filed the LLC as a way to provide Woods with equity in the new company.
“I thought it was an incredibly unique structure,” he said. “In a sponsorship deal with an athlete, you very rarely see a new entity created just to own that.”Don’t miss these stories from CNBC PRO: More

Burger King owner Restaurant Brands International topped estimates for its fourth-quarter earnings and revenue.
Canadian coffee chain Tim Hortons outperformed expectations for same-store sales growth.

A general view of a Tim Hortons Drive-Thru coffeehouse and restaurant at Lakeside Retail Park on February 5, 2024 in Grays, United Kingdom.
John Keeble | Getty Images

Restaurant Brands International reported quarterly earnings and revenue that beat analysts’ expectations on Tuesday, fueled by stronger-than-expected Tim Hortons sales.
Shares of the company were unchanged in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:

Earnings per share: 75 cents adjusted vs. 73 cents expected
Revenue: $1.82 billion vs. $1.81 billion expected

Restaurant Brands reported fourth-quarter net income attributable to shareholders of $508 million, or $1.60 per share, up from $229 million, or 74 cents per share, a year earlier.
Excluding items, the company earned 75 cents per share.
Net sales rose 8% to $1.82 billion.
This quarter marks the first time that Restaurant Brands shared its results using its new reporting structure. The company now discloses the results for its individual brands in the U.S. and Canada and lumps all of its international locations together under its “international” segment.

Tim Hortons’ same-store sales increased 8.4% in the quarter, topping StreetAccount estimates of 4.7%. The Canadian coffee chain is typically the biggest contributor to Restaurant Brands’ revenue. While best known for its hot coffee and breakfast food, Tims continued to grow sales of its cold drinks and afternoon snacks, Restaurant Brands CEO Josh Kobza told CNBC.
Burger King reported same-store sales growth of 6.3%. The chain’s U.S. business is now more than a year into a turnaround plan that includes remodeling restaurants and spending more money on advertising. Burger King’s U.S. locations saw traffic growth for the quarter, one sign that the strategy is working.
“That’s something we haven’t seen for a while and is different from where a lot of of our competitors were, so that was a big highlight for me in the quarter,” Kobza said.
Burger King U.S. President Tom Curtis told CNBC that the consumer was resilient in the fourth quarter, but still interested in good deals.
“I think, for us, that was probably one of the reasons behind our relative success in Q4 with the Royal Crispy Wraps,” he said.
Restaurant Brands also recently acquired Burger King’s largest U.S. franchisee, Carrols Restaurant Group, in a $1 billion deal to help the chain renovate locations even faster.
Popeyes’ same-store sales grew 5.5% in the quarter. The fried chicken chain launched chicken wings as a permanent menu item during the period. The wings were the focus of Popeyes’ first-ever Super Bowl commercial, which aired during the game Sunday.
Restaurant Brands reported international same-store sales growth of 4.6%.
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Biogen on Tuesday reported fourth-quarter revenue and profit that shrank from a year ago.
The company recorded charges related to dropping its controversial Alzheimer’s drug Aduhelm and as said sales slumped in its multiple sclerosis therapies, the company’s biggest drug category.
The results come amid the rollout of Biogen and Eisai’s Leqembi, the first drug found to slow the progression of Alzheimer’s to win FDA approval.

A Biogen facility in Cambridge, Massachusetts.
Brian Snyder | Reuters

Biogen on Tuesday reported fourth-quarter revenue and profit that shrank from a year ago, as it recorded charges related to dropping its controversial Alzheimer’s drug Aduhelm and as sales slumped in its multiple sclerosis therapies, the company’s biggest drug category.
Biogen booked sales of $2.39 billion for the quarter, down 6% from the same period a year ago. It reported net income of $249.7 billion, or $1.71 per share, for the fourth quarter, down from net income of $550.4 billion, or $3.79 per share, for the same period a year ago. Adjusting for one-time items, the company reported $2.95 per share.

The drugmaker’s fourth-quarter earnings per share, both unadjusted and adjusted, saw a negative impact of 35 cents associated with previously disclosed costs of pulling Aduhelm, which had a polarizing approval and rollout in the U.S.
Biogen is cutting costs while pinning its hopes on its other Alzheimer’s drugs, including its closely watched treatment Leqembi, and other newly launched products to replace declining revenue from its multiple sclerosis therapies.
Here’s what Biogen reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: 

Earnings per share: $2.95 adjusted vs. $3.18 expected
Revenue: $2.39 billion vs. $2.47 billion expected

Also on Tuesday, Biogen issued full-year 2024 guidance that calls for adjusted earnings of $15 to $16 per share. Analysts surveyed by LSEG had expected full-year earnings guidance of $15.65 per share.
The drugmaker said it expects 2024 sales to decline by a low to mid-single digit percentage compared to last year. But the company expects its pharmaceutical revenue, which includes product revenue and its 50% share of Leqembi sales, to be flat this year compared to 2023.

Multiple sclerosis drug sales slump

Biogen’s fourth-quarter revenue from multiple sclerosis products fell 8% to $1.17 billion as some of the therapies face competition from cheaper generics.
The company’s once-blockbuster drug Tecfidera, which is facing competition from a generic rival, posted revenue that fell 17.8% to $244.3 million in the fourth quarter. Analysts had expected that drug to book sales of $233.1 million, according to FactSet.
Vumerity, an oral medication for relapsing forms of multiple sclerosis, generated $156.4 million in sales. That came in below analysts’ estimates of $174.4 million, FactSet estimates said. 
“We’ve had several years of declining revenue and profit, which is not unusual when you’re dealing with patent expirations,” Biogen CEO Christopher Viehbacher told reporters on a media call Tuesday. He added that one of the key ways Biogen will return to growth is to “reposition the company away from our legacy franchise of multiple sclerosis towards new products.”
Meanwhile, Biogen’s rare disease drugs recorded $471.8 million in sales, up 3% from the same period a year ago. 
Spinraza, a medication used to treat a rare neuromuscular disorder called spinal muscular atrophy, recorded $412.6 million in sales. That came under analysts’ estimate of $443.4 million in revenue, according to FactSet. 
Biogen’s biosimilar drugs booked $188.2 million in sales, up 8% from the year-earlier period. Analysts had expected sales of $196.7 million from those medicines.

Leqembi, other new drugs

The results come amid the rollout of Biogen and Eisai’s Leqembi, which became the first drug found to slow the progression of the disease to win approval in the U.S. in July.
Eisai, which reported earnings last week, recorded $7 million in fourth-quarter revenue and $10 million in full-year sales from Leqembi.
Biogen CEO Christopher Viehbacher told reporters on a media call Tuesday that there are around 2,000 patients currently on Leqembi. That makes Biogen’s target of 10,000 patients by the end of March 2024 look increasingly difficult to hit, but Viehbacher emphasized that the company is focused more on the long-term reach of Leqembi rather than meeting that benchmark. 
“I think what’s important is we are now making progress,” he told reporters. “The 10,000 isn’t really hard and I think we are now really focusing on commercial plans — how do we get to the next 100,000?”
Notably, the low rate of adoption isn’t due to lack of demand: There are some 8,000 U.S. patients currently waiting to get on treatment, executives from Eisai said on an earnings call last week. 
The companies are also working toward Food and Drug Administration approval of an injectable version of Leqembi, which showed promising initial results in a clinical trial in October. 
Leqembi is currently administered twice monthly through the veins, a method known as intravenous infusion. The injectable form would be a new and more convenient option for administering the antibody treatment to patients, which could pave the way for higher uptake. 
But investors also have their eyes on other newly launched drugs. 
That includes Skyclarys from Biogen’s acquisition of Reata Pharmaceuticals in July. That drug brought in $56 million in fourth-quarter revenue, according to Biogen.
The FDA cleared Skyclarys last year, making it the first approved treatment for Friedreich ataxia, a rare inherited degenerative disease that can impair walking and coordination in children as young as 5.
On Monday, EU regulators approved Skyclarys for the treatment of Friedreich ataxia in patients ages 16 and up. 
Biogen has also partnered with Sage Therapeutics on the first pill for postpartum depression, which won FDA approval in August. But the agency declined to clear the drug for major depressive disorder, which is a far larger commercial opportunity. 
Biogen said that pill, called Zurzuvae, generated roughly $2 million in sales for the fourth-quarter.
This story is developing. Please check back for updates. More

Los Angeles-based startup K2 Space raised $50 million in new funding as the company works to build monster satellites to match the massive rockets that are coming to market.
K2’s latest fundraiser was led by tech investor Brad Gerstner’s Altimeter Capital.
The company expects to launch its first satellite on a demonstration mission later this year.

K2 Space co-founders Karan Kunjur and Neel Kunjur at the company’s facility in Torrance, California.
Credit: K2 Space

Los Angeles-based startup K2 Space raised $50 million in new funding as the company works to build monster satellites to match the massive rockets that are coming to market. 
Nearly two years since founding, K2 co-founders and brothers CEO Karan Kunjur and Chief Technology Officer Neel Kunjur expect to launch their first satellite on a demonstration mission later this year.

The company’s latest fundraiser was led by tech investor Brad Gerstner’s Altimeter Capital and adds to the $8.5 million in seed funding it raised from investors including First Round Capital and Republic Capital. K2 declined to specify its valuation after the most recent round.
“This round is effectively built for the demand that we’re seeing for launching constellations of the Mega class satellites,” Karan Kunjur told CNBC.

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K2’s Mega class satellite bus — the physical structure of a spacecraft that provides power, movement and more — is sized to fit in “heavy” and “super heavy” rockets. Some of those rockets are currently in operation, such as SpaceX’s Falcon 9 and Falcon Heavy rockets or United Launch Alliance’s Vulcan, and some are expected to come to market in the coming years, including SpaceX’s Starship, Blue Origin’s New Glenn and more.

A rendering of a K2 Space Mega satellite in space.
Credit: K2 Space

The company advertises its Mega satellite for $15 million each and says they’re capable of supporting up to one ton of payload mass each. At that size, K2 would be able to fit 10 Mega satellites in a Falcon 9 rocket.
“We have a pretty modular design, where the customers can dial in just how much payload mass they want, how many satellites they want to launch, and how much propellant they want to carry,” Neel Kunjur said, adding that “the intent is basically to give a customer a menu of options where they can dial it into their given mission needs.”

K2’s upcoming demonstration mission aims to show numerous undisclosed customers that its Mega design works. In addition to discussions with various commercial “large satellite operators,” Karan Kunjur noted that K2 has won about $6.5 million in Department of Defense contracts over the past eight months.
“There are different parts of the DOD that are incredibly excited about the capability that we’re able to offer at the constellation level,” Karan Kunjur said.

A slide from K2 Space’s pitch deck.
Credit: K2 Space

K2 currently has a 15,000 square foot facility in Torrance, California, and 28 employees, many of whom, like Neel Kunjur, boast years of prior experience at SpaceX.
The Kunjurs expect to use the fresh funds to add a 150,000 square foot facility later this year and grow the company to more than 50 employees as it prepares to begin producing satellites.
“The goal is really to get into [the larger facility] by the end of the year and be able to start switching gears into mass production … to really make sure we’re hitting the scale that our customers are asking for,” Karan Kunjur said.

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Super Bowl 58 was the most-watched television show in history, as an estimated 123.4 million people watched the Kansas City Chiefs rally in overtime to defeat the San Francisco 49ers.
CBS Sports said that figure included viewers across all platforms and was up 7% from last year’s 115.1 million average viewers, which was also the previous record.

Kansas City Chiefs’ Patrick Mahomes celebrates with the Vince Lombardi Trophy after winning Super Bowl LVIII.
Brian Snyder | Reuters

Super Bowl 58 was the most-watched television show in history, as an estimated 123.4 million people watched the Kansas City Chiefs rally in overtime to defeat the San Francisco 49ers.
CBS Sports said that figure included viewers across all platforms and was up 7% from last year’s 115.1 million average viewers, which was also the previous record.

This year’s game was the most-streamed Super Bowl in history with a record audience on Paramount+, the network said. It added that the network saw its best postseason viewership since 1998.
Sunday’s big game had a lot for audiences for tune in for — two of the best teams in the National Football League, a halftime show from Usher, wacky commercials and, of course, a very public love story.

(L-R) Alicia Keys and Usher perform onstage during the Apple Music Super Bowl LVIII Halftime Show at Allegiant Stadium on February 11, 2024 in Las Vegas, Nevada.
Patrick T. Fallon | AFP | Getty Images

Those who tuned in just for the Super Bowl’s iconic slate of commercials saw a lot of snack ads for brands like Oreo, Pringles, Mountain Dew, Doritos and M&Ms. There were also plenty of celebrities endorsements from the likes of Christopher Walken, Ben Affleck, Matt Damon, Tom Brady, Beyoncé, Quinta Brunson, Jenna Ortega, Kate McKinnon and Jennifer Aniston.
The NFL has enjoyed strong viewership throughout this year’s playoffs. Late last month, the Chiefs beats the Baltimore Ravens in the most watched AFC Championship game ever.
Live sports has showed strength even as TV viewership has fragmented and moved to streaming platforms. The value of sports rights showed this month as Disney’s ESPN, Fox and Warner Bros. Discovery said they would launch a joint steaming platform later this year. ESPN later announced it would release its own streaming service in 2025.

— CNBC’s Jacob Pramuk contributed to this report. More

Chrysler revealed the direction of its future products Tuesday with a new concept car called “Halcyon.”
The concept car is a sleek, future-looking sports car that’s designed to incorporate emerging technologies such as autonomous driving and new EV battery materials and charging capabilities.
However, consumers will likely have to wait a bit to purchase a new Chrysler with such technologies or anything that potentially resembles the concept car.

The Chrysler Halcyon concept car.
Stellantis

DETROIT — Chrysler revealed the direction of its future products on Tuesday with a new concept car called “Halcyon,” as the once prominent auto company attempts to drum up attention amid a dearth of new products.
The concept car is a sleek, future-looking sports car that’s designed to incorporate emerging technologies such as autonomous driving and new battery materials and charging capabilities for electric vehicles. It features an updated Chrysler logo as well as other design characteristics that officials say will carry over into production vehicles.

However, consumers will likely have to wait a bit to purchase a new Chrysler with such technologies or anything that potentially resembles the concept car.
Following the discontinuation last year of the Chrysler 300 sedan, the brand’s sole product is the Chrysler Pacifica minivan, including a plug-in hybrid electric model. Aside from an update to the minivan, Chrysler — owned by Stellantis, the company formed via a merger between Fiat Chrysler and French automaker PSA Group — isn’t expected to have a new vehicle until next year.

The Chrysler Halcyon concept car.
Stellantis

That new vehicle – a crossover, not a car – is anticipated to be Chrysler’s first all-electric vehicle, as the brand transitions to exclusively offer “a full lineup of innovative, seamlessly connected” EVs by 2028.
Chrysler CEO Christine Feuell, who started leading the brand in September 2021, said the company expects to roll out such a lineup of vehicles “in quick succession” after the EV crossover next year.
She said Chrysler’s parent companies did not invest in the brand “for a very long time.”

“I would always love to have more and faster, but I can tell you that over the last few years, we’ve not only grown sales, we’ve improved the profitability of the brand significantly,” Feuell said.
She said despite slower-than-expected adoption of the EV sales in the U.S., the company remains on track for its transition.
Feuell said the brand, which sold roughly 144,000 vehicles last year in the U.S. and Canada, “made a very good profit” in 2023. Those earnings will assist in funding the future vehicles inspired by the Halcyon concept, she said.

The Chrysler Halcyon concept car.
Stellantis

Automakers routinely use concept vehicles to gauge customer interest or show the future direction of a vehicle or brand. The vehicles are not meant to be sold to consumers.
The Halcyon concept car boasts “harmony in motion” and sustainability principles, according to several officials. The vehicle is built on one of Stellantis’ next-generation EV platforms. It includes synthetic materials rather than leather; 45% glass surface exterior; and utilizes 95% sustainable interior materials, including crushed compact discs, or CDs, as the Chrysler logo at the entryway of the vehicle.
The car is the latest concept from Chrysler following a minivan-like “Portal” vehicle in 2017, Airflow crossover in 2022 and “Synthesis Cockpit” demonstrator in 2023.
The Halcyon was scheduled to be revealed at the CES tech trade show in January, however Stellantis canceled those plans as well as other events to save capital.

The Chrysler Halcyon concept car.
Stellantis

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