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Fiat Chrysler will invest up to $1.5 billion to build EVs in Windsor

Fiat Chrysler Automobiles will invest between $1.35 billion and $1.5 billion in its Windsor assembly plant in Canada to build electric vehicles as part of a tentative deal with Canadian autoworkers, Unifor National President Jerry Dias said on Thursday. The auto union said FCA would invest in a state-of-the-art vehicle platform that will enable the assembly of plug-in hybrid and battery electric vehicles, with at least one new model in 2025. The announcement comes less than a month after Unifor said Ford would invest $1.46 billion in its Oakville and Windsor plants. "Not only is Fiat-Chrysler maintaining the current portfolio but they will be investing three derivatives to enhance the current portfolio," Dias said. Unifor also said it expects to extend the life of the Chrysler 300, a rear-wheel-drive luxury car and introduce multiple derivatives of the Dodge Charger and Challenger. The union said as many as 2,000 jobs would be added in 2024 at the Windsor plant. Market forecasting firm LMC Automotive on Thursday said it would take until 2024 for U.S. vehicle sales to recover from the coronavirus downturn and get close to the 17 million vehicles sold in 2019. Ratification meetings for the FCA deal will happen over the weekend, and members will vote on whether to accept the agreement on Sunday. The union is expected to begin negotiations with General Motors's Canadian unit next week. Related Video: Green Hirings/Firings/Layoffs Plants/Manufacturing UAW/Unions Chrysler Dodge Fiat Jeep RAM Coupe Electric Sedan windsor

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

Ram open to releasing electric pickup if buyers ask for one

Ram hasn't announced plans to launch an electric pickup yet, but it confirmed it's keeping a close eye on the burgeoning segment in case it needs to jump in. At least half a dozen electric pickups are scheduled to enter production during the first half of the 2020s, including models from Ram's rivals and from start-ups. "The reason we haven't spoken much about electric pickup trucks is not because we view that market as non-existent. We've always had a slightly different view of timing and adoption rates, particularly in North America in terms of full electrification. We are very committed to our electrification strategy — most of which we have revealed," Mike Manley, the head of Ram parent Fiat-Chrysler Automobiles (FCA), told The Detroit News. There is not a single electric truck available new in the United States in 2020, but the segment is expected to balloon in the coming years. Tesla and start-up Rivian both introduced close-to-production concepts that remain over a year away from entering production. Ford will make an electric derivative of the 14th-generation F-150, while General Motors will send both Chevrolet and GMC marching into the segment; the latter will resurrect the Hummer name. On paper, it looks like Ram is behind. In reality, it's still too early to tell if the demand is there. What remains to be seen is whether carmakers can turn social-media likes and eye-catching headlines into profitable sales, or if the electric pickup will become the proverbial brown, turbodiesel, and stick-shifted station wagon of the 2020s — a vehicle everyone loves the idea of but that no one wants to spend a dime on. Pickups have ruled America's sales chart for decades, but electric cars remain a small niche at best; they represented a 1.6% share of the market in 2019. Ram is essentially waiting to find out if installing one of America's least popular propulsion technologies in the nation's favorite body style by a long shot will resonate with buyers. "We haven't revealed everything. But, obviously pickup trucks are a key franchise for us, and we're not going to sit on the sidelines if there is a danger that our position gets diluted going forward," Manley stressed. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.