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Alfa Romeo working on high-performance engines

During the big Fiat Chrysler Automobiles FCA US LLC announcement of its five-year plan earlier this year, the strategy for Alfa Romeo was easily summarized by brand boss Harald Wester: "Go back to the Alfa Romeo that people admired." Easier said than done. With the 4C as one step in that procedure, we might see the next when the company unveils its midsize sedan in June with a trio of new engines with up to 480 horsepower. Anonymous sources at suppliers are already making some big claims about the new mills to Automotive News Europe. The top of the heap is reportedly a 2.9-liter, twin-turbocharged V6 making up to 480 hp, based on the 3.0-liter engine in the Maserati Quattroporte and Ghibli. Below it is a turbocharged 2.0-liter four-cylinder that's claimed to produce between 180 hp and 330 hp for rear- or all-wheel drive applications. Finally, there's potentially a 2.2-liter turbo-diesel four with between 135 hp and 210 hp. Little has been officially announced about the midsize sedan, but it was possibly spied testing recently hidden under the body of a Ghibli. It was rumored to be rear-wheel drive with a size between the BMW 3 Series and 5 Series, and a high-performance GTA version was also speculated. According to ANE, the vehicle won't be called the Giulia and won't hit the market in the US until 2016. In addition to the midsize model's engines, FCA is also reportedly working on an updated version of its 3.0-liter diesel V6 sourced from VM Motori with new 275-hp and 340-hp versions. They are likely slated for Alfa's future large sedan and SUV. News Source: Automotive News Europe - sub. req.Image Credit: Copyright 2014 Drew Phillips / AOL Alfa Romeo Technology Sedan FCA alfa romeo giulia fiat chrysler automobiles

Stellantis expects strike to cost it $795 million in third-quarter profits

MILAN — Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits — less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. The net revenue boost was due to higher volumes in all markets except Asia. Chief Financial Officer Natalie Knight told journalists that StellantisÂ’ strike impact was lower than the other Big Three automakers due to its global profile as well as some high-profile cost-cutting measures, calculating the hit at around 750 million euros ($795 million.) GM, the last carmaker to reach a deal to end the strike, reported an $800 million strike hit. Ford has put its impact at $1.3 billion. “We continue to be in a very strong position globally and in the U.S. This is an important market for us, and weÂ’re highly profitable and we are very committed to our future," Knight said. “But mitigation is core to how we act, and how we proceed.” Stellantis has canceled appearances at the CES technology show in Las Vegas next year as well as the LA Auto Show, due to the strike impact. Stellantis on Saturday reached a tentative agreement with the United Auto Workers Union to end a six-week strike by more than 14,000 workers at its assembly plants in Michigan and Ohio, and at parts warehouses across the nation. Stellantis does not report full earnings for the third quarter, instead providing shipments and revenues. It said that global sales of electric vehicles rose by 37% over a year earlier, powered by the Jeep Avenger and commercial vehicle sales. North America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%. Related video: Earnings/Financials UAW/Unions Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM

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