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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

Marchionne offers belated apology for 'wop engine' comment

Automotive News reports Fiat-Chrysler CEO Sergio Marchionne has issued a written apology for his comments regarding his decision to stick with an Italian engine for the upcoming Alfa Romeo 4C. As you may recall, back in January, Marchionne was quoted as saying, "I cannot come up with a schlock product, I just won't. I won't put an American engine into that car. With all due respect to my American friends, it has to be a wop engine." The CEO penned an apology to the Italian American ONE VOICE Coalition for using the racial epithet, saying that he made the comment in jest. Marchionne also said he realizes his remarks were unacceptable.
ONE VOICE, an organization aimed at fighting discrimination and stereotyping of Italian Americans, thanked Marchionne, Chrysler and Fiat for the apology. Marchionne is an Italian-born Canadian citizen, and he's gotten in trouble for other comments in the past. In 2011, he called high interest rates Chrysler was paying to the Canadian government "shyster rates." He apologized a day later.

Mazda leads Consumer Reports' latest Brand Report Card Rankings

The latest automaker brand report cards from Consumer Reports are in, and there are quite a few changes for 2021. At the very top of the charts sits Mazda, up three spots over last year, followed by BMW and Subaru to round out the top three. It's interesting to note that mainstream brands (non-luxury in CR-speak) don't seem to be at a disadvantage in CR's rankings, with five of the top 10 spots. In addition to Mazda in first and Subaru in third, Honda, Toyota, Chrysler, and Buick were the other high-ranking non-luxury marques. The ratings are derived from "a combination of predicted reliability, and owner satisfaction based on member surveys, and CR’s hands-on analysis" and also includes safety features and crash test scores.  At the very bottom of the list sit Mitsubishi, Land Rover and Alfa Romeo. "Our brand rankings don't just look at how models perform on our test track, but the broad picture of vehicle quality," said Jake Fisher, Senior Director of Automotive Testing at Consumer Reports. "Fortunately, consumers will find they have many options that are safe, enjoyable, and reasonably priced." The biggest jumps in the brand report card rankings come from Chrysler, Buick and Honda, which each moved up five spots compared to last year's rankings. The news wasn't nearly as good for Lincoln, which fell an alarming 15 spots this year, Genesis, which fell 13 spots, or Kia, which fell 10 spots. Related Video: