Price Reduced On Classic Pt Cruiser In Cherry Red - $3999 (marion, Ia) on 2040-cars

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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

Ferrari stock demand exceeding supply

As with the Ferrari cars, so it is with shares in the company's initial public offering: When Ferrari has a limited quantity of something to sell, demand far outstrips supply. Investors told banks weeks ago that bids for the $1 billion in stock – up to 18.89 million shares – would exceed the number of shares available over the entire expected range of $48 to $52. Ten percent of the company is going on the block' Bloomberg reports that the books close on the IPO on Monday at 4:00 pm. The final price will be set on Tuesday, and trading will begin Wednesday under the ticker symbol RACE on the New York Stock Exchange. Piero Ferrari, the son of Enzo Ferrari, will hold onto the ten-percent stake he currently has in the company. Fiat Chrysler will disburse the final 80 percent to its investors sometime in 2016. In combination with spinning Ferrari off from its parent company next year, the share sale is expected to put $4 billion into Fiat Chrysler coffers, which will be used to help fuel the growth of Alfa Romeo, Jeep, and Maserati. Assuming all goes to plan, Bloomberg says Ferrari will be valued at roughly $12 billion, a number $1 billion greater than the valuation Fiat Chrysler CEO Sergio Marchionne put on Ferrari earlier this year and higher than the brand's own internal assessment. Related Video:

Recharge Wrap-up: Fiat 500X EV spotted? Senators request biodiesel increase

A group of 32 senators is asking the EPA to approve increased biodiesel volumes in the Renewable Fuel Standard. Delays in approving the RFS for 2014 forward is causing problems for the fuel produces affected by the law. "EPA's delays are endangering our industry," says Imperium Renewables CEO John Plaza. "Biofuel facilities around the nation are sitting idle, workers are being laid off, and some producers have been forced out of business entirely." Producers feel the EPA is underestimating domestic biodiesel production, and are concerned about importing fuel from Argentina. Read more in the press release below. Fiat Chrysler will help Israel develop a natural gas vehicle. The automaker, along with Iveco and Magneti Marelli, signed a memorandum of understanding with Israel's Prime Minister's Office as part of the Israel Fuel Choices Initiative. They are also considering extended research and development relationship with Israeli companies for alternative fuels and smart mobility. Israel seeks to become a hub for alternative fuel technology. Read more at Hybrid Cars. Spy photos suggest Fiat might build an electric 500X as a compliance car for California. The photos, sent by a reader to Green Car Reports, show a camouflaged Fiat 500X that appears to lack a tailpipe, suggesting it could be an EV. It was photographed on its way to Chrysler's SRT Engineering Center, which builds specialized, low-volume vehicles. The gas-powered 500X debuted in North America at the Los Angeles Auto Show last fall, so camouflage seems a bit unusual at this point if it's just a standard powertrain. It's possible the car could be sold mainly in California to comply with the state's zero-emissions requirements for automakers. Read more and see the photos at Green Car Reports. 32 U.S. Senators urge EPA to approve increased biodiesel volumes Imperium Renewables applauds Senators' action SEATTLE, Feb. 9, 2015 /PRNewswire/ -- A bipartisan group of 32 U.S. senators, including Washington state's Patty Murray and Maria Cantwell, is calling on the Environmental Protection Agency to move quickly in approving strong biodiesel volumes under the nation's Renewable Fuel Standards. The senators expressed concern about the agency's delays in implementing the RFS standards for 2014, 2015 and 2016, noting that the delays have created tremendous uncertainty for the U.S.