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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

Jeep teases Trailcat and other Easter Safari concepts

Update: It's confirmed. The Trailcat is a Hellcat-powered Wrangler concept. Stay tuned for more details. Ahead of the 50th annual Easter Jeep Safari in Moab, Utah, the company is teasing two of the seven concepts it'll be taking along. There are virtually no solid details about these two Jeeps, save that they exist. But just reading the word scrawled across the Jeep Wrangler Trailcat concept's hood gets the blood pumping. We've been hearing about Hellcat-powered Jeeps for a while now. The Grand Cherokee Trackhawk has been the subject of a steady drum-roll of rumors and reputed confirmations, and even a spy video. But that's the Grand Cherokee. But a Wrangler? The aftermarket has been fooling with it. A company called Hauk will stuff one in a Wrangler for you, and surely other companies will follow. For Jeep itself to stuff one into a concept vehicle seems like a great way to fire up the diehard Wrangler folks. The other concept is called the Jeep Crew Chief, and it looks like an update of the Jeep Chief concept from last year. That incredible, retro design recalled the SJ-generation Jeep Cherokee of the 1970s and '80s. Last year's Chief was based on a Wrangler Unlimited, with the rear doors slightly disguised to emulate its two-doored forbearer. Based on the "Crew" part of the name, we can surmise it might be a crew-cab pickup conversion with the wonderful Chief front end. Expect it to be a hit, as well. Related Video: Jeep Truck SUV Off-Road Vehicles easter jeep safari

Stellantis will give its brands 10 years to prove they deserve to live

Formed by the merger of PSA Peugeot-Citroen and Fiat-Chrysler Automobiles, Stellantis has 14 brands under its roof, a number that makes it one of the largest groups in the industry. Rumors claimed not every brand would survive, with Chrysler often earmarked to get axed, but the firm said it will give them all a chance to shine. "We're giving each (brand) a chance, giving each a time window of 10 years and giving funding for 10 years to do a core model strategy. The CEOs need to be clear in brand promise, customers, targets, and brand communications," announced Stellantis boss Carlos Tavares during the Financial Times' Future of the Car event. His comments confirm Chrysler fans and dealers don't need to worry about the future — at least not yet. And, against all odds, Lancia enthusiasts can breathe a sigh of relief, too. Former FCA head Sergio Marchionne warned of the brand's demise on several occasions. Alfa Romeo is safe for now, too, as is Vauxhall, which are basically just Opels sold in the United Kingdom with a different badge. The engagement made by Tavares also means Stellantis won't divest any of its brands to raise capital until at least 2031. It's now up to each executive team to make a case for the brand they run, an unusual survival-of-the-fittest strategy in an era when cutting costs is more common than spending cash. Diving into the vast Stellantis parts bin should help even the most troubled brands turn their fortunes around on a relatively tight budget. It seems likely that survive Chrysler will need to look beyond the 300 and the Pacifica/Voyager, the only models in its range, and completely reinvent its image, which is currently nebulous at best. Lancia, once the champion of luxury, performance, and innovation, faces the same challenge. It's not starting quite from scratch, it's relatively popular in its home country of Italy, but it will need to think globally and expand outside of the city car segment to survive. Featured Gallery 2020 Chrysler 300 View 24 Photos Chrysler Dodge Fiat Jeep RAM Citroen Lancia Opel Peugeot Vauxhall