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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

Fiat Chrysler's Q3 profit boosted by strong North American earnings

MILAN, Italy — Fiat Chrysler Automobiles (FCA) reported a 17 percent jump in third-quarter adjusted operating profit on Tuesday, helped by a strong performance in its key North American market and improving operations in Europe and Latin America. The world's seventh-largest carmaker still makes the lion's share of its profits in North America, so improving, or at least maintaining, its margins there is a key focus. The carmaker reported an 8 percent adjusted operating profit margin in the region, up from 7.6 percent a year ago, despite a drop in sales and shipments. "FCA's profitability in North America remained strong in the quarter despite a weakening market there," a Milan-based analyst said. FCA's profitability compares with an 8.3 percent North America margin reached in the quarter by bigger U.S. rival GM , showing CEO Sergio Marchionne making progress towards his goal of closing the margin gap with GM and the company's other U.S. rival, Ford, by 2018. The company's confirmation of its full-year outlook also pushed shares higher, a trader added. The stock was up 2.8 percent by 1129 GMT, outperforming a 1 percent rise in the European auto index. FCA has been retooling some U.S. factories to boost output of sport-utility vehicles (SUVs) and trucks while ending production of some unprofitable sedans to strengthen profitability as the U.S. car market comes off its peak. The company said a drop in North America shipments due to lower fleet sales and discontinued models was partially offset by higher deliveries of Ram trucks and two models from the Alfa Romeo stable: the Stelvio sport utility vehicle and Giulia sedan. Profitability also improved in Europe, helped by sales of the Stelvio and the new Jeep Compass, and Latin America, while margins at Maserati remained strong at 13.8 percent due to strong demand for its first SUV, the Levante. In a later conference call, investors are looking for hints on the new strategy to 2022 which the company promised to unveil early next year. Chief Executive Sergio Marchionne said earlier this year that FCA would streamline its portfolio and that components businesses, including Magneti Marelli, would be separated from the group, possibly via a spin-off. While FCA confirmed its targets this year, doubts remain about its exposure to a weakening U.S. market, recall costs and potential fines over emissions after it was targeted by European and U.S.

Ram updates 1500 and Heavy Duty trucks for the new model year

Happy Labor Day weekend, and happy 2020 Ram truck news day. The changes for 2020 aren't huge, mostly limited to aesthetics, starting with a Night Edition package to the Big Horn and Laramie trims. A Black Appearance Package was offered for 2019, but this one is a little different. Those who choose the Night Edition won’t be limited to black paint only, meaning you can get all that black trim along with a contrasting exterior color. ItÂ’ll have a black grille, badging, exhaust tips, headlight/taillight bezels and wheels (20-inch for Big Horn, 22-inch for Laramie). The white Ram 1500 pictured here is equipped with the package. A Black Appearance package is coming to the Rebel trim, too, with 18-inch wheels, a front skid plate, front spoiler, lighting bezels, badging, tow hooks and exhaust, all finished in black. YouÂ’ll also be able to option a driver assistance package on the Rebel for 2020 that includes adaptive cruise control, lane departure warning, auto high beams and forward collision mitigation. The 2020 Ram Heavy Duty adds a couple nice tech features. Lane keeping assist, blind-spot monitoring, enhanced connected services and dual auxiliary camera support are all added as options for the new model year. Additionally, there are two new paint options: Olive Green and Hydro Blue. The Power Wagon doesnÂ’t change much, but there will be a new black wheel option for 2020. One final note of change for 2020 is the addition of “eTorque” badging on the hood of so-equipped Ram 1500 trucks. Previously, Ram made 1500 eTorque models indistinguishable from their non-electrified brethren.