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Stellantis and LG launch joint venture for North American battery plant

Stellantis has struck a preliminary deal with battery maker LG Energy Solution (LGES) to produce battery cells and modules for North America, as the world's No. 4 automaker rolls out its 30 billion euro ($35 billion) electrification plan. Global automakers are investing billions of euros to accelerate a transition to low-emission mobility and prepare for a progressive phase-out of internal combustion engines. Stellantis and LGES's joint venture will produce battery cells and modules at a new facility with an annual capacity of 40 gigawatt hours (GWh), the two firms said on Monday. No financial details of the deal were provided. The plant is scheduled to start production by the first quarter of 2024, with groundbreaking expected in the second quarter of 2022, the companies said in their statement. Its location is under review and will be announced later. Stellantis, formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, has said it wants to secure more than 130 GWh of global battery capacity by 2025 and more than 260 GWh by 2030. The batteries produced under the deal will supply Stellantis' U.S., Canadian and Mexican assembly plants for installation in hybrid and fully electric vehicles, supporting its goal of e-vehicles making up more than 40% of its U.S. sales by 2030. The company, whose brands include Peugeot, Fiat, Opel and U.S. best-sellers Jeep and Ram, earlier this year announced it would invest more than 30 billion euros through 2025 on electrifying its vehicle lineup. Stellantis has said it would build three battery plants in Europe and two in North America, including at least one in the United States. Intesa Sanpaolo analyst Monica Bosio said the deal was positive, and a further step ahead in Stellantis' electrification process. It comes weeks after Stellantis and its partner TotalEnergies agreed to open up their battery cell joint venture ACC to Daimler, to expand their European sourcing of battery cells. Stellantis is also targeting more than 70% of sales in Europe to be of low-emission vehicles by 2030, and aims to make the total cost of owning an EV equal to that of a gasoline-powered model by 2026. Related video: Green Plants/Manufacturing Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Maserati RAM Citroen Lancia Opel Peugeot Vauxhall Electric Hybrid EV batteries LG

LaFerrari Spider might actually use Aperta name

We've already shown you the Ferrari LaFerrari Spider, but it may ultimately use a different name. Sources told Autocar the topless LaFerrari will actually have "Aperta" in its title. The British magazine also notes that some of the images have file names labeled Aperta. It would be a fitting moniker as the word translates to "open" in English. It was affixed to other special Ferrari convertibles like the 599 SA Aperta and 458 Speciale A Aperta, and it makes sense to bestow the name upon the most powerful Ferrari convertible yet. The previous open-air Ferrari with the greatest output was the 488 Spider with 661 horsepower, which is paltry compared with the LaFerrari's 949 hp. The LaFerrari drop-top will make its official debut at the Paris Motor Show, and we expect it to cost about $1.4 million. Ferrari says all examples have already been sold. Related Video:

Sergio Marchionne confirms Ferrari LaFerrari Spider

Sergio Marchionne has been the CEO of Ferrari for about five minutes, and there's already big product news coming from Maranello. The LaFerrari hypercar will be sold as a convertible (or Spider, if you prefer). Marchionne confirmed the Spider during an interview with Automobile Magazine, which looks like it happened before today's CEO announcement. After being asked about the so-called LaFerrarina – which Automobile calls "a less extreme version of LaFerrari" – Marchionne said "the only future product connected to LaFerrari is the Spider," which was "no secret since potential customers have already been approached." While the company is hard at work on the LaFerrari Spider, Marchionne was less forthcoming on the long-rumored, V6-powered Dino. "Where should that Dino be positioned? How much should it cost? How would it relate to the next 488? What is the right balance between too many and not enough units?" Marchionne peppered. "We haven't found answers to these questions yet." Marchionne didn't go as far as saying when Ferrari would sell the LaFerrari Spider, but if the company is already reaching out to its exclusive clientele, a debut can't be far off. Perhaps 2017? That year is, after all, the 70th anniversary of the first Ferrari-badged car, 1947's 125 S. Related Video: