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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

Jeep and Ram could be spun off from FCA, says Marchionne

Jeep is surely the biggest single feather left in the cap of the Fiat Chrysler Automobiles portfolio. Under Sergio Marchionne's leadership, Jeep went from fewer than 500,000 annual sales in 2008 to 1.4 million in 2016, and is on track for 2 million by 2018. Add in the brand's legacy, status as one of the most recognizable nameplates in the world, and rabid fan base, and Jeep has extraordinary monetary value to its parent company. Investors and analysts have certainly noticed Jeep's inherent value. According to The Detroit Free Press, Morgan Stanley's Adam Jonas asked FCA chief Sergio Marchionne if he would ever consider spinning Jeep and Ram, FCA's dedicated truck brand, into a separate corporate entity, and he responded with a simple "Yes." Jonas estimated Jeep's worth in January of this year at $22 billion. Ram was valued at $11.2 billion. Marchionne has a history of spinning off brands while keeping them part of FCA's corporate umbrella. The most noteworthy example of this value maximization was with Ferrari, which now trades on the New York Stock Exchange and rakes in $3.4 billion in annual revenue and close to $435 million in net income, reports the Free Press. Marchionne still serves as chairman and CEO of Ferrari, and Fiat heir John Elkann owns 22 percent of the Italian marque's shares. Even if the offloading of Jeep and Ram into a separate entity would amount to little more than a profit-driven ownership change on paper, it would be huge news to the brands' loyal fanbases. In any case, such a move would likely take years to actually happen and probably wouldn't mean much at all to the products that Jeep and Ram produce. In other words, Jeep fans can keep the pitchforks in the shed ... for now. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2014 Jeep Cherokee marketing launches with 'Built Free' commercial

Now that the 2014 Cherokee is finally on its way to dealerships, Jeep is starting its marketing blitz for its new crossover, beginning with this 60-second TV spot, called Built Free, that premieres today. Set to a Bob Dylan recording, the ad spot discusses something we can all relate to - the feeling of being too busy and too cooped up with everyday tasks to really get out there and explore the world. But as Jeep says in the commercial, "You're still here. And you're still you. The horizons haven't gone anywhere."
Autoblog spoke to Kim Adams-House, head of marketing for the Jeep brand, who explained that this Built Free spot is "an anthemic piece" that "sparks the conversation" for the new Cherokee. As you'll notice, none of the new Jeep's features - its off-road systems, nine-speed automatic transmission, etc. - are mentioned in the ad, but Adams-House says that future marketing "will speak to more" of the CUV's highlights. Following this 60-second spot, 30-second commercials will launch that talk about some of the specific product features.
When asked if the Built Free campaign will include any throwbacks to the original Cherokee, Adams-House told Autoblog that while "we love that vehicle," the new spots are intended to carve out "a unique space for Cherokee in our product portfolio and marketplace." On that same note, don't expect any other Jeep vehicles to get the Built Free treatment. Adams-House said that while this ad "does resonate overall with the brand," it is solely intended to promote the new Cherokee.