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Stellantis and LG launch joint venture for North American battery plant

Stellantis has struck a preliminary deal with battery maker LG Energy Solution (LGES) to produce battery cells and modules for North America, as the world's No. 4 automaker rolls out its 30 billion euro ($35 billion) electrification plan. Global automakers are investing billions of euros to accelerate a transition to low-emission mobility and prepare for a progressive phase-out of internal combustion engines. Stellantis and LGES's joint venture will produce battery cells and modules at a new facility with an annual capacity of 40 gigawatt hours (GWh), the two firms said on Monday. No financial details of the deal were provided. The plant is scheduled to start production by the first quarter of 2024, with groundbreaking expected in the second quarter of 2022, the companies said in their statement. Its location is under review and will be announced later. Stellantis, formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, has said it wants to secure more than 130 GWh of global battery capacity by 2025 and more than 260 GWh by 2030. The batteries produced under the deal will supply Stellantis' U.S., Canadian and Mexican assembly plants for installation in hybrid and fully electric vehicles, supporting its goal of e-vehicles making up more than 40% of its U.S. sales by 2030. The company, whose brands include Peugeot, Fiat, Opel and U.S. best-sellers Jeep and Ram, earlier this year announced it would invest more than 30 billion euros through 2025 on electrifying its vehicle lineup. Stellantis has said it would build three battery plants in Europe and two in North America, including at least one in the United States. Intesa Sanpaolo analyst Monica Bosio said the deal was positive, and a further step ahead in Stellantis' electrification process. It comes weeks after Stellantis and its partner TotalEnergies agreed to open up their battery cell joint venture ACC to Daimler, to expand their European sourcing of battery cells. Stellantis is also targeting more than 70% of sales in Europe to be of low-emission vehicles by 2030, and aims to make the total cost of owning an EV equal to that of a gasoline-powered model by 2026. Related video: Green Plants/Manufacturing Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Maserati RAM Citroen Lancia Opel Peugeot Vauxhall Electric Hybrid EV batteries LG

All the cars of the monster Baillon Collection barn find are headed to auction [w/video]

Automotive barn finds are exciting for the thrill and surprise of the hunt. Of course, you're far more likely to find a rusting Chevy under a tarp, but there's always that chance to scoop up a forgotten Porsche or Shelby for a song. That aspect makes the massive Roger Baillon Collection so bittersweet. There were so many great classics sitting under an open shed in France, but they were there so long that many of them became just bare husks. Ahead of the February 6 auction in Paris, auction house Artcurial has released descriptions and images of the entire 59-car hoard. While the 1961 Ferrari 250 GT SWB California Spider and 1956 Maserati A6G 2000 Gran Sport Berlinetta Frua remain the stars, there are a few surprises among the bunch. The original announcement makes no mention of several modern Ferraris – at least compared to the rest of the collection – among the lots. They include a thoroughly beat 1982 308 GTSi without headlights and portions of the paint gone. There's also a 1988 Mondial Cabriolet that looks good on the outside, but Artcurial says needs a mechanical overhaul. A rather attractive gray 1978 400 GT is in similar condition. Scroll through the gallery above for the names and price estimates for all of the vehicles in the collection. If there's one you're particularly interested in there are even more photos and full descriptions in Artcurial's auction catalog. Also check out the video below to see what some of these classics looked like before they were hauled out of Baillon's lean-to after years of sitting in decrepitude. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Roger Baillon Collection Auction View 59 Photos News Source: Artcurial, Artcurial Briest - Poulain - F. Tajan via YouTube Ferrari Maserati Auctions Classics ferrari 250 retromobile artcurial

Why Italians are no longer buying supercars

Italy is the wound that continues to drain blood from the body financial of Italian supercar and sports car makers. The wound was opened by the country's various financial police who decided to get serious about superyacht-owning and supercar-driving tax cheats a few years ago, by noting their registrations and checking their incomes. When it was found that a rather high percentage of exotic toy owners had claimed a rather low annual income - certain business owners were found to be declaring less income than their employees - the owners began dumping their cars and prospective buyers declined to buy.
Car and Driver has a piece on how the initiative is hitting the home market the hardest. Lamborghini sold 1,302 cars worldwide in 2010, 1,602 cars in 2011 and 2,083 cars in 2012 - an excellent surge in just two years. In Italy, however, it's all about the ebb: in 2010, the year that Italian police began scouring harbors, Lamborghini sold 96 cars in Italy, the next year it sold 72, last year it sold just 60. The declines for Maserati and Ferrari are even more pronounced.
Head over to CD for the full story and the numbers. What might be most incredible isn't the cause and effect, but where the blame is being placed. A year ago the chairman of Italy's Federauto accused the government of "terrorizing potential clients," this year Luca di Montezemolo says what's happening has created "a hostile environment for ­luxury goods." Life at the top, it ain't easy.