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Stellantis and LG announce Canadian EV battery joint venture

SEOUL — South Korean battery giant LG Energy Solution (LGES) said on Wednesday it plans to invest $1.5 billion to set up a joint venture with Stellantis in Canada. LGES owns 51% of the joint venture, tentatively named "LGES-STLA JV" and Stellantis owns 49%, LGES said in a regulatory filing. In October, LGES and Stellantis NV struck an electric vehicle (EV) battery production joint venture, targeting to start production by the first quarter of 2024 and aiming to have an annual production capacity of 40 gigawatt hours of batteries. In a separate regulatory filing, LGES said it plans to acquire a stake worth $542 million in ES America to respond to demand from EV startups in the United States. LGES is considering building a factory in Arizona to meet demand in the United States, two people familiar with the matter told Reuters, adding that the plant is expected to primarily produce cylindrical battery cells. LGES has its own factory in Michigan and two battery joint ventures with General Motors in Ohio and Tennessee. "We are considering a new production site, but nothing has been decided yet," said a spokesperson at LGES. LGES, which counts Tesla, GM and Volkswagen among its customers, currently has battery production sites in the United States, China, Poland, Indonesia and South Korea. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Plants/Manufacturing Chrysler Dodge Fiat Jeep RAM Electric

Watch Jay Leno's Garage work on a Porsche 911 and others

Jay Leno doesn't just own a bunch of cars – he restores them. (Or has people who restores them, at any rate.) For this latest video, he's showing us some of the projects he and his team are currently working on. The tour-de-garage starts with a 1953 Cunningham that had been in storage since '68, complete with a copper grille ready for plating and a 331 Hemi V8. Jay says that every one of the cars that Briggs Cunningham made is still on the road – but that's just one of the dozen or so projects Jay and company are working on. There's a suitably brown '71 Porsche 911 T in near-original condition having sat untouched parked underground in Beverly Hills for decades, and a '58 Chrysler Imperial convertible once driven by Clark Gable and Frank Sinatra, and now getting a brake upgrade. There's a Volvo 122 wagon that's been stripped down, media-blasted, and powder-coated, a thousand-horsepower Rolls-Royce, a 1960 Nash Metropolitan, a supercharged Mercedes-Benz 600 Pullman, and a 1914 Detroit Electric. And those are just the four-wheeled automobiles. Over in the two-wheeler section there's a pair of Brough Superiors, a BSA, an Indian, and a custom racing sidecar that Jay's mechanic Bernard is working on. In short, Jay Leno's Garage isn't just one where vehicles are kept – it's one where vehicles are brought back to life. Related Video: News Source: Jay Leno's Garage via YouTube Chrysler Mercedes-Benz Porsche Classics Videos Jay Lenos Garage bsa

Jeep sets all-time sales record in 2012

Last year was good to Jeep. Chrysler has announced its trail-rated brand set an all-time global sales record in 2012 by moving 701,626 units. That number easily surpasses the previous record set in 1999 when Jeep sold 675,494 models. All told, the brand saw a 19-percent sales increase worldwide over 2011, and much of that swell can be traced directly to the Wrangler. While the Grand Cherokee led Jeep sales, the Wrangler posted record numbers both globally and within the US, moving 194,142 and 141,669 units in each market, respectively.
Meanwhile, the Compass beat its previous global sales record with 103,321 units rolling off of dealer lots. In the US, Jeep sold 62,010 Patriot units, breaking that model's previous record as well. Jeep's impressive performance in 2012 marks the second year in a row the brand has seen double-digit percentage sales increases. Check out the full press release below.