1989 Alfa Romeo Spider Veloce Convertible 2-door 2.0l on 2040-cars

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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

Share price falls on skepticism of Chrysler-Fiat five-year plan

Following this week's Fiat Chrysler extravaganza, where the Italian-American manufacturer announced its plans for the next five years, the Autoblog staff was cautiously optimistic of the company's future. Investors? Not so much.
Fiat saw its shares tumble 12 percent in Wednesday's trading, falling from 8.67 euros ($12.06 at today's rates) to 7.44 euros ($10.35) as of this writing, with blame partly going to the Italian half of the FCA marriage, which recorded a pretty significant drop in profits during the first quarter of this year.
The plan, which will cost around $77 billion over the next several years, is facing criticism from investors thanks in part to a 1.4-percent drop in Fiat's first-quarter profits, to 622 million euros ($862 million). That figure is also short of Bloomberg analysts' projections, which predicted $1.18 billion in profits before taxes, interest and one-time items.

US-spec Alfa Romeo 4C Spider caught naked at a photo shoot

The Alfa Romeo 4C Spider is getting ready for its reveal and market roll-out, which means it's time to put together broadcast materials, and that means the open-roof coupe has to venture outside. Someone caught a few photos of a yellow example during one such jaunt in Andalusia, Spain during photo and television work, and based on this glimpse we'll happily welcome it to our shores. Yes, we felt the same way when we saw the concept introduced at the Geneva Motor Show earlier this year, and except for two small changes, it's the same car. This production version has an air inlet on the driver's side just ahead of the rear wheel said to improve cooling for the dual-clutch transmission, and the centrally mounted exhaust pipes on the concept have moved to the corners. It also wears the concept's wheels and the conventional headlights, instead of the arachnid units best suited for getting the attention of mating wolf spiders. We shouldn't have too much longer to wait for information on the car's weight gain and performance, as well as its roof panel operation. Until then, head over to www.autoblog.it and Carscoops for a few more on-location shots.