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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

EV cost burden pushing automakers to their limits, says Stellantis' CEO Tavares

DETROIT — Stellantis CEO Carlos Tavares said external pressure on automakers to quickly shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle with EVs' higher costs. Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said. "There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost. Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said. Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm. "Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said. "The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits." Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade. Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from both establishment automakers such as GM, Ford, VW and Hyundai, as well as start-ups such as Tesla and Rivian. The latter electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the highly profitable Jeep and Ram brands. That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035.

Weekly Recap: Toyota propels hydrogen fuel cells

Toyota is serious about hydrogen fuel cells, and it wants the auto industry to follow suit. The Japanese automaker said this week it's releasing 5,680 fuel cell patents from around the world, including technologies used on its upcoming sedan, the 2016 Mirai. The move is unusual, but not unprecedented, as Tesla similarly released its electric vehicle patents last year. The idea for Tesla, and now for Toyota, is to spur development of alternative propulsion. "By eliminating traditional corporate boundaries, we can speed the development of new technologies and move into the future of mobility more quickly, effectively and economically," said Bob Carter, Toyota Motor Sales senior vice president of automotive operations, in a statement. Toyota's fuel cell patents will be free to use through 2020, though patents related to producing and selling hydrogen will remain open forever. Toyota said it would like companies that use its patents to share their own hydrogen patents, but won't require it. "What Toyota's doing is really a logical move, and really a good move for the industry," Devin Lindsay, principal powertrain analyst with IHS Automotive, told Autoblog. The announcement was made at the Consumer Electronics Show in Las Vegas. It comes as Toyota prepares to launch the hydrogen-powered Mirai in a limited number late this year in California. The launch will be extended to the Northeastern United States next year. Toyota also has announced plans to support networks of fueling stations in each region to try to smooth consumer adoption. The Mirai has a 300-mile range on a tank of hydrogen, and it takes about five minutes to refill. Fuel cells have been receiving increased attention recently, and Audi and Volkswagen debuted hydrogen-powered cars at the 2014 Los Angeles Auto Show. Honda, another proponent of the technology, also showed its updated FCV concept in November in Japan. The company, however, has delayed its fuel cell sedan a year until 2016. Like Toyota, Honda says its hydrogen-powered car will have a range of 300 miles or more. Meanwhile, Hyundai currently offers leases for fuel-cell powered Tucsons, which have a 265-mile range, in Southern California. Despite the optimism some automakers have for fuel cells, the technology still faces barriers. A lack of filling stations has long held it back, and many consumers are not familiar with the potential benefits.