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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

Maserati MC20 bringing twin-turbo V6 to September debut

There is a touch more information on the pieces going into the Maserati MC20, starting with intel to Car and Driver that the mid-engined coupe will launch with a "new twin-turbo V6 rumored to make more than 600 horsepower." Last time we heard about the flagship coupe created to return Maserati to the race track — and serve as a halo to burnish the entire lineup and drive more impressive global sales — the rumblings predicted a hybrid V6 making 600 hp or thereabouts. Mystery shrouds the engine's displacement, but the stillborn Alfa Romeo 8C and GTV were predicted to get a 3.0-liter twin-turbo V6. When Car magazine asked a Fiat Chrysler engineer if the MC20's engine would take that motor and enlarge it to 3.6 liters, the response was, "Displacement costs only pennies, but pays back big bucks in power and torque."  C/D writes that a hybrid version of the twin-turbo V6 comes later. Car predicts the electronics crank output to roughly 700 horsepower, which can't be a random number since Alfa Romeo touted the now-dead 8C as having "700+ combined horsepower." The naturally aspirated mill and its sequential turbochargers send power exclusively to the rear wheels through a Getrag eight-speed dual-clutch transmission. The hybrid models, perhaps earning the Trofeo name signifying top-tier grunt, go all-wheel drive with "e-modules" on the front axle. Previous scuttlebutt pegged the most intense trim as having three electric motors, which sounds like the setup found in other super coupes like the Acura NSX, placing one e-motor between the engine and transmission, the others on the front axle. The lineup eventually welcomes a battery-electric model, too, as well as a convertible. Rumor has a massaged version of the carbon tub from the Alfa Romeo 4C sitting between the front axle and engine, although longer and wider and sitting on a longer wheelbase.   With the novel coronavirus still upending everything, the MC20 debut has been moved from May to September. C/D figures a starting price of around $160,000 when the model goes on sale in the U.S. next year, after launching in Europe toward the end of 2020. That theoretical price might sound substantial, but it only adds $9,000 to the MSRP of the current GranTurismo Convertible. Car's figure comes in a little higher, at "less than GBP200,000," around $250,000 U.S. Related Video:      

Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.