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Stellantis and LG announce Canadian EV battery joint venture

SEOUL — South Korean battery giant LG Energy Solution (LGES) said on Wednesday it plans to invest $1.5 billion to set up a joint venture with Stellantis in Canada. LGES owns 51% of the joint venture, tentatively named "LGES-STLA JV" and Stellantis owns 49%, LGES said in a regulatory filing. In October, LGES and Stellantis NV struck an electric vehicle (EV) battery production joint venture, targeting to start production by the first quarter of 2024 and aiming to have an annual production capacity of 40 gigawatt hours of batteries. In a separate regulatory filing, LGES said it plans to acquire a stake worth $542 million in ES America to respond to demand from EV startups in the United States. LGES is considering building a factory in Arizona to meet demand in the United States, two people familiar with the matter told Reuters, adding that the plant is expected to primarily produce cylindrical battery cells. LGES has its own factory in Michigan and two battery joint ventures with General Motors in Ohio and Tennessee. "We are considering a new production site, but nothing has been decided yet," said a spokesperson at LGES. LGES, which counts Tesla, GM and Volkswagen among its customers, currently has battery production sites in the United States, China, Poland, Indonesia and South Korea. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Plants/Manufacturing Chrysler Dodge Fiat Jeep RAM Electric

Junkyard Gem: 1993 UMC Aeromate Food Truck

One of my favorite things about living in the Mile High City is all the food trucks roaming the neighborhoods here. I'm a regular at such fine mobile eating establishments as Tacos el Huequito, Mikes2Kitchen, and Yuan Wonton, and I'm pleased that South Denver's metal-centric Brutal Poodle bar now has its own food truck. The sad part about food trucks, however, is that they're trucks, and sometimes old trucks wear out and have to be sent to the knacker's yard. Here's a once-ebullient Denver food truck that met that fate and now resides in a self-service yard just south of the city. This truck started out as a member of the extended UMC Aeromate family, built in Indiana by the company now known as Utilimaster. I couldn't find much useful information about this particular model, which seems to have the windshield and nose of one of the many UMC-based RVs instead of the typical long snout of most Aeromates. What I do know is that it's based on an early-1990s Chrysler minivan chassis, complete with 3.3-liter V6 engine and the instrument cluster out of a 1992 Plymouth Voyager. The 3.3 made 150 horsepower in 1993, and it was installed in Chrysler minivans through 2010. 150 horses (and 180 pound-feet) isn't much for a big truck packed with a complete kitchen, and the strain on a Torqueflite automatic transmission designed for a 3,400-pound minivan must have been severe. I think the drivetrain on this 29-year-old truck just couldn't hold up under the demands of a hard-working crew of sandwich entrepreneurs in the extreme weather and traffic conditions of High Plains Colorado. The county licensing sticker expired in late 2019, so it took a couple of years for this UMC to reach this place. Don't weep for the Little Big Sandwich Truck, though, because the LBST Empire upgraded to a newer, GM-built school bus a few years ago and appears to be slinging sandwiches outside Denver-area breweries to this day. The headlights and marker lights clearly came from a late-first-generation Dodge Caravan/Plymouth Voyager (the second-generation Chrysler minivans, which debuted in the 1991 model year, got different noses). The grille looks like typical RV equipment. I've seen a few junked ice cream trucks over the years, but somehow a sandwich truck with a stenciled snorkeling dachshund seems sadder. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

4 ways FCA-PSA merger could be a plus

DETROIT — In a merger deal announced overnight, Fiat Chrysler stands to gain electric vehicle technology while PSA Peugeot Citroen could benefit from a badly needed dealership network to reach its goal of selling vehicles in the U.S. The merger would create the world's fourth-largest automaker with a combined market value of around $50 billion. Neither company would comment. Experts say the two automakers will be able to share car, SUV and commercial vehicle designs, helping each other fill weaknesses and share costs that will make them a strong global player. "We view the combination of these two companies as reasonable given global competition, high capital intensity, and industry disruption from electrified powertrain as well as autonomous technologies," Morningstar analyst Richard Hilgert wrote in a note to investors. Here are four areas that could be crucial to the two automakers' success: Technology For years, Fiat Chrysler has lagged its rivals in electric vehicle technology, with its former CEO once trying to discourage people from buying its only fully electric car in the United States, the Fiat 500E, because he lost money on each sale. The company has made progress on gas-electric hybrids and may have plans for more fully electric vehicles, but PSA has valuable technology that FCA can use, said Navigant Research analyst Sam Abuelsamid. Peugeot was relatively late to the electric vehicle game but is now working fast to catch up, notably with fellow French rival Renault. CEO Carlos Tavares has made a point of stressing the company's need to adapt to changing technology at car shows and earnings calls. Last year he announced plans to offer 40 electric models across its lineup by 2025. "Electrification hasn't been a huge part of their play up until now," Abuelsamid said. "Between the two of them, I think they could generate some scale for whatever they're doing, sharing component costs, development costs across electrical platforms," he said. More electric vehicles also would help FCA meet pollution and fuel economy regulations in Europe. As far as autonomous vehicles, neither company is among the leaders, Abuelsamid said. But that's a technology that's years into the future, giving them time to share the huge expenses and catch up together. FCA also has alliances with other companies such as Google spinoff Waymo that could bring autonomous vehicle technology to the market when ready, Abuelsamid said.