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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 F12 TdF debuts at Finali Mondiali event at Mugello

It's been almost a month since Ferrari revealed the new F12 TdF. But outside of a select cadre of customers, nobody has gotten to see it until this weekend at the Mugello circuit in Italy. The TdF is the more extreme version of the F12 Berlinetta – similar to how the 599 GTO was an upgraded 599 GTB Fiorano, or the 458 Speciale an upgraded 458 Italia. It benefits from a more potent version of the Berlinetta's 6.3-liter V12 producing 769 horsepower and 520 pound-feet of torque. It also features a rear-wheel steering system, 87 percent more downforce, and 240 pounds less weight to motivate. The result is a 0-62 time of 2.9 seconds, a top speed of over 211 miles per hour, and a Fiorano lap time of 1:21. A trio of TdFs hit the track this weekend at Mugello – one of several circuits owned by Ferrari in Italy – located in the Tuscan countryside and frequent venue for motorcycle and DTM races. It also played host this weekend to the Finali Mondiali – the company's year-end racing spectacle where the winners of the various Ferrari Challenge series duke it out for top honors, where private owners (as part of the Corse Clienti program) are invited to drive their racing and XX track machinery, and where Ferrari often unveils something new. In addition to the F12 TdF's debut, this year saw the presentation of the 488 GTE and GT3 racers as well. Both Sebastian Vettel and Kimi Raikkonen were on hand to show off what the TdF could do in front of the cheering crowds. With only 799 examples to be built (and all of them rumored to have already been sold), this may present the closest opportunity you'll get to see the new F12 TdF up close.

Ferrari Enzo split in half in crash could sell for millions

The 2004 Ferrari Enzo you see here is quite unlike any other. You see, back in 2006, tech entrepreneur Stefan Eriksson famously sliced this Enzo in half when he hit a pole along the Pacific Coast Highway while allegedly speeding at around 160 miles per hour (as you can see in the image below). And now you can bid to own it. RM Sotheby's will auction the infamous supercar in Paris on February 3. The supercar carries an estimate of between 1.5 million and 2 million euros ($1.6 million to $2.2 million at current rates). Eriksson initially claimed that a buddy was driving when the accident happened but eventually came clean. The authorities charged Eriksson with nine offenses, including grand theft, drunk driving, embezzlement, and illegal gun possession. He was later sentenced to three years in prison. Despite the horrendous damage, Eriksson's Enzo has survived. According to RM Sotheby's auction description, the Ferrari Technical Assistance Service rebuilt the car and added satellite navigation, a Bose stereo, reverse camera, power windows, and a subtle carbon fiber rear spoiler. The team also repainted the exterior in a beautiful shade called Nero Daytona and installed a Rosso interior, which replaced the original combo of Rosso Corsa on the outside and Nero inside. The car has covered 2,500 kilometers (1,553 miles) and remained in Europe since it was rebuilt from the untimely accident. The car also comes certified by Ferrari Classiche to confirm its authenticity. The Enzo is a special vehicle even without this one's great story, representing as it does a big leap forward for modern supercars. A 6.0-liter V12 with 660 horsepower sits behind the driver, and a six-speed sequential gearbox gets the power down. We can't wait to see what this interesting example brings at auction. PARIS 3 February 2016 Lot 138 2004 Ferrari Enzo Chassis no. ZFFCZ56B000135564 Engine no. 080164 Assembly no. 52696 ˆ1.500.000 - ˆ2.000.000 To be auctioned on Wednesday, February 3, 2016 Documents: French Certificat d'Immatriculation 660 bhp, 5,998 cc DOHC 65-degree V-12 engine with Bosch Motronic engine management and electronic fuel injection, six-speed electro-hydraulic computer-controlled sequential F1 transmission, limited-slip differential and traction control, front and rear pushrod-actuated double wishbones with horizontal external reservoir coil-spring damper units, and four-wheel ventilated carbon-ceramic disc brakes.