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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

Pope Francis' Fiat 500L just sold for $82,000

A brand-new Fiat 500L will run you anywhere from about $20,000 to $25,000, depending on trim. But the one you see here just sold for $82,000 – more than four times the car's base MSRP. This isn't just any old 500L, though. This one carried Pope Francis through Philadelphia on his recent visit to the United States. The 500L sold at an auction during the Philadelphia Auto Show, where bidders could participate remotely, or in person. Nineteen bidders competed over the course of 11 minutes, and the winning bid of $82,000 was made by Michael and Kate Chapman of Chapman Auto Stores. Reuters (via Automotive News) says the money will go to benefit the Roman Catholic Archdiocese of Philadelphia. This 500L was one of six the Pope used during his visit to the US. Automotive News says the Pope originally selected the Fiat because it's frugal and efficient, and that Francis wanted to move away from some of the lavish appointments long associated with his office.

Fiat 500e will be Stellantis' EV test run in the U.S.

LOS ANGELES – While we're excited for the Fiat 500e's arrival in the U.S., and we think there's a clear niche for it, we still had loads of questions about what models were coming, if any changes would be made and what else might be coming for the Italian brand. And in a roundtable interview with Fiat Brand CEO Olivier Francois, we learned all that and more. So let's go over the fascinating electric future of Fiat in the U.S. The Future is 500 And when we say that it's 500, we mean only 500e. Francois revealed that, although it's not going away immediately, the 500X crossover will be discontinued when this generation reaches the end of its lifecycle. His reasoning for this move is that only one model really struck a chord with American buyers: the regular 500. He pointed out that it had, at once point, 60% of the ultra-small segment ahead of Mini. And it was successful because it was an iconic car that met a very specific niche for a very specific buyer: something small and stylish that worked well as a commuter and city car. He noted that the 500L, with a focus on practicality, wasn't something that a mainstream buyer was looking for, nor that niche buyer. And it's a similar case for the 500X. So the brand is shifting back to its most popular, core model, and it has no plans in the near term to expand beyond that. Exactly which 500e variants will be offered here is still being decided. There are three versions in Europe right now, the hatchback, soft-top and quirky three-door (with a half-door on the passenger side a la Mazda MX-30). They will be joined by a sporty Abarth version soon. Francois noted that they could start with one version and offer others later, or perhaps the hatch and convertible simultaneously. The three-door seems unlikely, as there isn't much demand for such a small car with a marginally easier-to-access rear seat. The Abarth is something Francois said he would like to offer here (and we would love to accept), but that will likely be determined by how well this new Fiat strategy works. He did say that any of them could be offered, but it depends on the brand's success and strategy. One interesting tidbit that could complicate the convertible is that the most successful states for the 500 were California and Florida, which are both states were convertibles don't do great.