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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

Marchionne says no offers are on the table for Fiat Chrysler

MONZA, Italy (Reuters) - Fiat Chrysler (FCA) has not received any offer for the company nor is the world's seventh-largest carmaker working on any "big deal", Chief Executive Sergio Marchionne said on Saturday. Speaking on the sidelines of the Italian Formula One Grand Prix, Marchionne said the focus remained on executing the company's business plan to 2018. Asked whether FCA had been approached by someone or whether there was an offer on the table, he simply said: "No." The company's share price jumped to record highs last month after reports of interest for the group or some of its brands from China. China's Great Wall Motor Co Ltd openly said it was interested in FCA, but had not held talks or signed a deal with executives at the Italian-American automaker. The stock move was also helped by expectations that the company might separate from some of its units. Marchionne reiterated on Saturday that FCA was working on a plan to "purify" its portfolio and that units, such as the components businesses, would be separated from the group. He hopes to complete that process by the end of 2018. "There are activities within the group that do not belong to a car manufacturer, for example the components businesses. The group needs to be cleared of those things," he told journalists. Asked whether an announcement could come this year, Marchionne said it was up to the board to decide and that it would next meet at the end of September. He said the time was not right for a spin-off of luxury brand Maserati and premium Alfa Romeo and the two brands needed to become self-sustainable entities first and "have the muscle to stand on their feet, make sufficient cash". "The way we see it now, it's almost impossible, if not impossible, to see a spin-off of Alfa Romeo/Maserati, these are two entities that are immature and in a development phase," he said. "It's the wrong moment, we are not in a condition to do it." He said the concept of separating the two brands from FCA's mass market business made sense and did not rule out this happening in future, but not under his tenure, which lasts until April 2019. "If there is an opportunity in future, it would certainly happen after I'm gone. It won't happen while Marchionne is around," he said.

2018 Dodge Durango Pursuit SUV is the tall arm of the law

Dodge is adding to its police car portfolio with the 2018 Durango Pursuit, a specially-prepped police version of the automaker's SUV. Available with an optional 360-horsepower Hemi engine, the Durango Pursuit comes with everything you'd expect in a truck built to protect and serve. We'll try to avoid too many Blues Brothers cop car references but, yes, this Dodge includes some serious "cop shocks" and that aforementioned "cop engine," among many other modifications. The Hemi engine produces 360 horsepower and 390 lb. ft. of torque, all of which is routed to an eight-speed automatic transmission and full-time AWD system. According to Dodge, this is the most popular powertrain fitted to the existing Charger Pursuit police car. The brakes have been strengthened and are capable of bringing the Durango Pursuit from 60-0 mph in 134 feet. The Durango Pursuit also adds a two-speed transfer case, which should prove handy when bad guys try to escape by venturing off road. "Unofficial testing results at the Michigan State Police 2018 model-year vehicle evaluation event created such a stir among law enforcement agencies that we simply had to find a way to build this vehicle," said Steve Beahm, Head of Passenger Car Brands, Dodge/SRT, FCA North America. Despite the apparent buzz around this police vehicle, Dodge has said the Durango Pursuit V-8 AWD will only be available "for a limited time." And as you've already guessed, you have to be in law enforcement to place an order for one — sorry to disappoint. Other notable features of the Durango Pursuit include 8.1 inches of ground clearance, a tow rating of 7,200 pounds, heavy-duty oil cooler and water pump, 220-amp alternator, a spare tire mounted beneath the rear of the truck to free interior space, a spotlight wiring prep package, along with trailer sway control. Dog lovers will be pleased that K-9 units have been taken into consideration, too. The Durango Pursuit is available with a tri-zone climate control package, to make certain badge-wearing four-legged constables remain comfortable while fighting crime. Related Video: Dodge SUV Police/Emergency police car