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Stellantis and LG launch joint venture for North American battery plant

Stellantis has struck a preliminary deal with battery maker LG Energy Solution (LGES) to produce battery cells and modules for North America, as the world's No. 4 automaker rolls out its 30 billion euro ($35 billion) electrification plan. Global automakers are investing billions of euros to accelerate a transition to low-emission mobility and prepare for a progressive phase-out of internal combustion engines. Stellantis and LGES's joint venture will produce battery cells and modules at a new facility with an annual capacity of 40 gigawatt hours (GWh), the two firms said on Monday. No financial details of the deal were provided. The plant is scheduled to start production by the first quarter of 2024, with groundbreaking expected in the second quarter of 2022, the companies said in their statement. Its location is under review and will be announced later. Stellantis, formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, has said it wants to secure more than 130 GWh of global battery capacity by 2025 and more than 260 GWh by 2030. The batteries produced under the deal will supply Stellantis' U.S., Canadian and Mexican assembly plants for installation in hybrid and fully electric vehicles, supporting its goal of e-vehicles making up more than 40% of its U.S. sales by 2030. The company, whose brands include Peugeot, Fiat, Opel and U.S. best-sellers Jeep and Ram, earlier this year announced it would invest more than 30 billion euros through 2025 on electrifying its vehicle lineup. Stellantis has said it would build three battery plants in Europe and two in North America, including at least one in the United States. Intesa Sanpaolo analyst Monica Bosio said the deal was positive, and a further step ahead in Stellantis' electrification process. It comes weeks after Stellantis and its partner TotalEnergies agreed to open up their battery cell joint venture ACC to Daimler, to expand their European sourcing of battery cells. Stellantis is also targeting more than 70% of sales in Europe to be of low-emission vehicles by 2030, and aims to make the total cost of owning an EV equal to that of a gasoline-powered model by 2026. Related video: Green Plants/Manufacturing Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Maserati RAM Citroen Lancia Opel Peugeot Vauxhall Electric Hybrid EV batteries LG

For his last act, Marchionne will outline an EV/hybrid roadmap this week

MILAN/LONDON — Fiat Chrysler (FCA) boss Sergio Marchionne is expected to outline new plans for electric and hybrid cars in a strategy presentation on Friday, aiming to ensure the world's seventh-largest carmaker remains in the race in the absence of a merger. The 65-year-old will present FCA's strategy to 2022, his final contribution to the company he turned around and multiplied in value through 14 years of canny dealmaking. After failing to secure a tie-up he said was necessary to manage the costs of producing cleaner vehicles, Marchionne needs to show the group can keep churning out profits on its own, even as emissions rules tighten, SUV competition intensifies and worries around his succession abound. Marchionne had long refused to jump on the electrification bandwagon, saying he would only do so if selling battery-powered cars could be done at a profit. He even urged customers not to buy FCA's Fiat 500e, its only battery-powered model, because he was losing money on each sold. But Tesla's success and the need to comply with tougher emissions rules have forced Marchionne to commit to what he calls "most painful" spending. "FCA is way behind rivals in terms of hybrid and electric vehicles and they need to hit the accelerator to convince investors they can close that gap," said Andrea Pastorelli, a fund manager at 8a+ Investimenti. Germany's Volkswagen, Daimler, BMW and U.S. rivals GM and Ford have committed to spending billions of euros each in coming years to try produce profitable cars powered by cleaner fuels. FCA needs to present a clear roadmap, just like Volvo Cars, which ditched diesel from its best-selling XC60 SUV, launched a new electric brand and pledged to shift all brands to hybrid by 2019, a banking source close to FCA said, noting: "The tech divide determines winners and losers in the industry." Marchionne has already said half of the wider FCA fleet will incorporate some elements of electrification by 2022, while luxury marque Maserati will spearhead FCA's electrification drive by making all new models due after 2019 electric. But its plans remain vaguer and less advanced than most big rivals and some investors wonder about the capital required to make vehicles compliant, and what share of spending can go to electrification given FCA's numerous demands.

On International Women's Day, Alfa Romeo salutes its legendary female race drivers

Alfa Romeo is celebrating International Women's Day by highlighting some of the women who have raced its cars over the past century. They collectively achieved a long list of impressive achievements on and off the track in the face of adversity. One of the earliest-known women that raced an Alfa Romeo professionally is Maria Antonietta d’Avanzo, an Italian baroness who started competing shortly after World War I. Her career spanned several decades, during which she competed against numerous pilots, including an ambitious young man named Enzo Ferrari who would have a profoundly important effect on Alfa Romeo's image and success on the track. He was a mediocre racer, by most accounts, but he proved to be a brilliant manager and was soon put in charge of the carmaker's racing efforts. Ferrari sold Anna Maria Peduzzi one of her first race cars: an Alfa Romeo 6C 1500 Super Sport. Racing either alone or with her husband, she took first in the 1500 category of the 1934 edition of the Mille Miglia. Helle Nice and Odette Siko also raced Alfa Romeo cars during the 1930s; the latter finished fourth overall and first in the 2.0-liter category in a privately-entered 6C 1750 Super Sport. Alfa Romeo's official entry, an 8C 2300, took second overall. Belgian-born Christine Beckers and Dutch racer Liane Engeman both competed in the GTA — one of the company's most successful race cars — during the 1960s. Alfa Romeo later hired Engeman as a model. Maria Grazia Lombardi (also known as Lella) raced a GTV6, but she's better known as the only woman to have scored points in Formula One. She competed from 1974 to 1976 and scored half a point in 1975. She also raced in four editions of the 24 Hours of Le Mans and finished 20th overall and second in her class in a Lancia Stratos. Colombian pilot Tatiana Calderon joined the Sauber Formula One team as a development driver in 2017 after a successful career racing karts. In 2018, she became a test driver for Alfa Romeo's Formula One team. She doesn't line up on the starting grid (at least not yet) but she plays a big part in creating the company's top-level race cars. Unlike many of her predecessors who raced as privateers or for small teams, she's officially affiliated with the company. Race teams (and car manufacturers in general) began welcoming more women into their ranks in the 1990s. Sibling company Maserati also shed light on some of the women who have played an important role in its racing history.