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Stellantis will enter joint venture with Samsung SDI for EV batteries

SEOUL — South Korean battery maker Samsung SDI Co Ltd and global automaker Stellantis NV have agreed to jointly produce electric vehicle (EV) batteries for the North American market, a person familiar with the matter said on Tuesday. Samsung SDI, an affiliate of South Korean tech giant Samsung Electronics, already has EV battery plants in South Korea, China and Hungary, which supply customers such as BMW and Ford. "The two companies (Samsung SDI and Stellantis) have struck a MOU (memorandum of understanding) to produce EV batteries for North America," the person with knowledge of the matter told Reuters. The source spoke of condition of anonymity because of the sensitivity of the matter. The person said the location of the battery joint venture is under review and will be announced later. In July, Reuters reported that Samsung SDI may build a battery plant in the United States, citing a company source. South Korea's Yonhap news agency earlier reported the two companies plan to build a factory in the United States, citing industry sources. Samsung SDI and Stellantis did not have immediate comment when reached by Reuters. Stellantis on Monday struck a preliminary deal with battery maker South Korea's LG Energy Solution (LGES) to produce battery cells and modules for North America. Shares of Samsung SDI were up 2.6% as of 0300 GMT, versus a 0.6% rise in the KOSPI benchmark index. Related video: Green Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Maserati RAM Citroen Lancia Opel Peugeot Vauxhall

2016 Malaysian Grand Prix recap: Surprises and missed opportunities

Mercedes-AMG Petronas pilot Lewis Hamilton drove so well in the run-up to the Malaysian Grand Prix that he said before the race, "Honestly, I don't feel anything is going to stop us." On Sunday, the Sepang race showed what it thought of plans and predictions. Heading into the right-hand Turn 1, Sebastian Vettel practically recreated the dust-up at the Belgian Grand Prix three races ago. When Mercedes' Nico Rosberg swept across from the outside line toward the apex, Red Bull's Max Verstappen had to jink right to avoid, touching Vettel's Ferrari on the inside. Vettel speared straight on and hit Rosberg. Vettel's left front suspension broke, ending his race. Rosberg spun and got moving again, but at the back of the pack. That appeared to put Hamilton on a clear run to the checkered flag. His car looked perfect, his pace was perfect, he easily kept Red Bull's Daniel Ricciardo and Verstappen behind. A result that would have seen Hamilton retake control of the Driver's Championship – at Petronas' home race – got crushed on Lap 41 when Hamilton's engine blew down the main straight. That put Ricciardo in the lead, followed closely by his teammate. Just two laps before Hamilton's exit, Ricciardo and Verstappen had battled for second place with some of the best driving we've seen all season. Ricciardo drove as if exorcising the demons of missed opportunities earlier in the year, keeping the young Dutchman behind. The two Red Bulls took the flag fifteen laps later in that order, clocking the first one-two finish for a team other than Mercedes since 2014. It's Red Bull's first one-two since Brazil 2013, when Vettel and Mark Weber took the top steps at the last race of the V8 era. Rosberg recovered to take third in spite of a ten-second penalty for an optimistic pass on Ferrari's Kimi Raikkonen. The Finn crossed the line 12 seconds later, followed by Valtteri Bottas in the Williams and Sergio Perez in the Force India. In another Belgium repeat, Fernando Alonso drove from the back of the grid to finish seventh. Nico Hulkenberg secured eighth, Jenson Button ninth for McLaren in his 300th grand prix, and rookie Jolyon Palmer scored his first point of the season for Renault in tenth. The issue to trump all others from now until next week's Japanese Grand Prix: Lewis Hamilton's terrible luck with engines. Power unit gremlins earlier this season helped drop the Brit to 43 points behind Rosberg after the Russian Grand Prix.

Ferrari fined 50,000 euros after Kimi Raikkonen runs over mechanic

MANAMA, Bahrain — Ferrari was fined 50,000 euros ($61,385) on Sunday after one of its Formula One mechanics was hit by Kimi Raikkonen's car and suffered a broken leg during a Bahrain Grand Prix pitstop. Raikkonen, who had been in third place, was told to stop immediately and retired in the pitlane while teammate Sebastian Vettel went on to win. At an IndyCar race in Phoenix over the weekend, meanwhile, Alexander Rossi and Sebastien Bourdais both also were penalized when they made contact with their mechanics. Ferrari said the mechanic on the left rear wheel, named only as Francesco, had been taken to hospital with a suspected shin bone and fibula fracture. He was knocked over as the Finn was wrongly given the signal to leave with only three tires replaced and the other still to be removed. "I go when the light is green. I don't see what happens behind and unfortunately he got hurt," said Raikkonen, the 2007 world champion. "My job is to go when the light says so. Hopefully, he's OK." The Finn was left sitting in his car for a while before stepping out while the mechanics focused on their stricken team mate on the floor. Ferrari chairman Sergio Marchionne wished the mechanic a speedy recovery in his post-race statement. "I am sorry for Kimi who could certainly have finished on the podium," he added. It was the second time Ferrari had been penalized for an unsafe release over the Bahrain Grand Prix weekend. It was fined 5,000 euros after Raikkonen was sent out of the pits with a loose wheel in Friday practice. Race stewards said that in Sunday's incident the car was released "in a manner endangering team personnel and causing injury." Reporting by Alan BaldwinRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Getty Motorsports Ferrari Racing Vehicles F1 Kimi Raikkonen sebastien bourdais