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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

Stellantis reports surprising 2020 results, is 'off to a flying start'

MILAN — Low global car inventories and cost cuts should boost Stellantis's profit margins this year, though a shortage of semiconductors and investments in electric vehicles could weigh on results, the newly-formed automaker said on Wednesday. The forecast came as Stellantis, created by the January merger of Peugeot-maker PSA and Fiat Chrysler (FCA), reported better-than-expected results for 2020 that sent its shares up around 3% in morning trading. "Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies (from the merger)," Chief Executive Carlos Tavares said in a statement. Stellantis is the world's fourth largest carmaker, with 14 brands including Fiat, Peugeot, Opel, Jeep, Ram and Maserati. It said 2021 results should be helped by three new high-margin Jeep vehicles in North America and a strong pricing environment there. The U.S. market has driven profits for years at FCA and starts off as the strongest part of Stellantis. The group's guidance assumes no more significant lockdowns caused by the global COVID-19 pandemic, which shuttered auto plants around the world last spring. Stellantis should also get a lift as its starts to implement a plan aimed at delivering over 5 billion euros a year in savings, without closing any plants. Tavares has also pledged not to cut jobs. But a pandemic-related global shortage of semiconductors, used for everything from maximizing engine fuel economy to driver-assistance features, could hurt business. Auto industry executives have said the shortage should ease by the second half of 2021. Stellantis said its "electrification offensive" could also weigh on results this year. Automakers are racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of carmakers aiming for a fully-electric line-up by 2030. Stellantis plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025, broadly in line with plans at top rivals such as Volkswagen and Renault-Nissan, although Stellantis has further to go to meet that goal. The carmaker is targeting an adjusted operating profit margin of 5.5%-7.5% this year. That compares with a 5.3% aggregated margin last year: 4.3% at FCA and 7.1% at PSA excluding a controlling stake in parts maker Faurecia, which is set to be spun-off from Stellantis shortly.

2019 Dodge Challenger SRT Hellcat Redeye Drivers' Notes | Wide awake

Editor-in-Chief Greg Migliore — I've always wondered how Dodge would evolve the Challenger. There was only one real generation, not counting the rebadged Mitsubishi. Past and present, it's always looked the same. With the Hellcat, Demon, and now my personal favorite, the Hellcat Redeye Widebody, it makes total sense. There's no need to redesign it every few years. Just tweak it and add cool features — like flared fenders and the 797-hp Hellcat engine. It's all you need. This thing makes a statement. The Redeye is the car your neighbors want a ride in. I parked in our office building's basement, and co-workers heard me gunning the engine — two stories up. It's a growl. It has bass. It's angry. It gets a little metallic sometimes, depending on how and when you lay on the gas. I launched fairly hard at every traffic light. Sometimes I'd rev at idle. The Monroney that came with our test car lists the fuel economy as zero (it actually gets 13 city and a respectable 22 highway). But still. You get the point. I've always liked how the Challenger drives. It's big. It's heavy. The hood looks like the deck of an aircraft carrier. It's not trying to be a track rat. Go fast in a straight line. That's what you do. Take a hard left and maybe you skid a little bit. Maybe that's the idea. You don't eat cheeseburgers because they're good for you. You eat them because they taste good. Hey, cheeseburgers have protein. And vitamins. Healthy isn't the right description, but there are some benefits. The same reasoning applies to this Challenger. The interior is attractive, well-furnished and comfortable. The leather-trimmed seats are supportive. I love the saddle brown color. I used to say the coupe's low roof and bulky A-pillars were a problem. Then I got over that. You're driving nearly 800 hp, so sit up and be on your toes. The trunk is huge, too. I could have put a car seat in the back, had I needed to. You can live with the Challenger. And the Redeye is perhaps the best version yet. The starting price is about $60 grand. That's a steal. The price of our tester is $92,290. That's insane. The $6,000 widebody pack is the thing I'd recommend most out of all the options. Get the nice leather, too. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.