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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

RM Sotheby's 2015 Monterey auction sets records

RM Sotheby's wrapped up three days of beautiful cars crossing the block during Monterey Car Week with a company record of $172.7 million in vehicles sold. The first day's Pinnacle Portfolio collection alone brought in $75.4 million, a new high for a one-day, single-vendor auction. While nothing ever topped the $17.6 million 1964 Ferrari 250 LM, the hammer continued to fall on some very expensive vehicles each day. Expected to clear over $11 million, the sale of a 1956 Ferrari 250 GT Berlinetta Competizione 'Tour de France' easily managed that with a final price of $13.2 million. Multiple bidders on the phone and in the room desperately wanted this famous racer, and it drove the price up. To make this thoroughbred worth the lavish amount, the coupe won the 1956 Tour de France series of events and was among seven with this body by Scaglietti. Many of the top sellers came from the first night's Pinnacle Portfolio, but records continued to be broken over the weekend. Notably, a 1953 Jaguar C-Type Works Lightweight brought $13.2 million to make it the most expensive Jag ever at auction. Also among RM Sotheby's top sellers were a 1950 Ferrari 275S/340 America Barchetta at $7.975 million and a 1952 Jaguar XK120 Supersonic for $2,062,500. Take a look at a few of these special vehicles in the gallery above. HISTORIC FERRARI 250 GT 'TOUR DE FRANCE' LEADS THIRD NIGHT OF RECORD SALES AT RM SOTHEBY'S MONTEREY World's largest collector car auction house concludes three day event with more than $172.7 million in auction and post-auction sales MONTEREY, CALIFORNIA (August 15, 2015) - A historic 1956 Ferrari 250 GT Berlinetta Competizione 'Tour de France' set a new auction record for the model tonight, selling for an outstanding $13.2 million before another packed house at RM Sotheby's Monterey event. Spurring a lively bidding contest between multiple collectors in the room and on the telephones, the influential Ferrari is the actual car that instituted the 'Tour de France' nomenclature following its overall victory at that legendary race in 1956. The fifth of only seven Scaglietti-bodied first-series competition berlinettas, it was sold new to the Marquis Alfonso de Portago, the flamboyant and daring Spanish driver, who, joined by his close friend Ed Nelson, piloted to car to first place overall at the 1956 Tour de France Auto.

Ferrari V6 hybrid said to arrive in May with as much as 723 horsepower

Ferrari has five debuts planned this year, one of which we've seen in the F8 Tributo. The next four will add to and update the mid-engined sports car range as well as the front-engined GT range. Car magazine thinks it has a bead on the long-awaited Ferrari six-cylinder engine that will sit in the middle of some new sports car definitely not named Dino. According to Car's sources, the 2.9-liter twin-turbo V6 works up 610 horsepower and 443 pound-feet of torque by itself. Given plug-in hybrid assistance and an e-motor between the engine and transmission, the numbers grow to 723 hp and almost 800 lb-ft. The magazine says there's also room for an e-motor powering the front axle "at a later stage." Since Ferrari CEO Louis Camillieri nixed the Dino name, it's said the moniker 486 could get a call-up when Ferrari reveals the powerplant, expected to happen in May. We just need to see where that engine is going to go, since the carmaker's V8 hybrid is also due this year, and also rumored for a May reveal. The V8 hybrid will fit inside a new flexible platform and power a mid-engined model above the 710-hp F8 Tributo in the range and more profitable than the 812Superfast. The F8 Tributo sits on a heavily updated version of the 488 platform, which itself was a heavily updated version of the 458 platform from 2009. The new mid-engined model will focus on track performance. Ferrari has confirmed that its new mid-mounted platform will be able to adopt the V6 family. The brand's SVP of commercial and marketing, Enrico Galliera, told Australia's WhichCar, "So the technology we are going to have, V12, V8, V6 turbo. Hybrid will give us the possibility to have a platform that we can mix to achieve emissions targets." Since the other three Ferrari debuts are predicted to be in the GT and ultra-luxe categories, it's possible the V6 will introduce an entry-level option for a model like the Portofino. Or it could grace a new, more traditional model. There's a new "front-engine hybrid architecture for host of new cars, including Purosangue SUV," the SUV not due now until 2022. Galliera also told WhichCar, "We are developing some products that are designed to give the same emotion as a Ferrari." They will be sports cars, "but with this design that it is more elegant that is more for everyday driving in order to attract those people that maybe are not considering to buy a Ferrari, because they are not willing to have a highly sporty car.