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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

Indian kids joyride in Ferrari F430

Cars and kids. A lot more people out there have both when they should probably have neither, and this is apparent with this latest video coming out of India. While we can't say for sure who these kids and this car beautiful Ferrari F430 belong to, it's at least the worst display of adult supervision we've seen since last month when two Russian parents let their 8-year-old daughter drive an Audi on snow- and ice-slicked roads.
A young boy who can barely reach the pedals drives up and down the public road with an equally young passenger drive the Ferrari while two adults (Dad of the Year behind the camera?) record the whole event. It seems almost silly to point out, but neither of the juveniles appear to have their seat belts on, as well. As bad as this person's decision making skills are to let a kid drive a car under these conditions, though, his video recording abilities are even worse. Scroll down to check out the video for yourself.

Faraday Future Hires Ferrari Exec. | Autoblog Minute

Ex Ferrari man Marco Mattiacci will join Faraday Future as a key high-ranking executive. Ferrari Autoblog Minute Videos Original Video faraday future marco mattiacci