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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

Maserati GranTurismo MC Stradale is an interesting choice in the world of lux GTs

The Maserati GranTurismo MC Stradale sits in an awkward place in the modern world of European grand tourers. Despite its voluptuous Italian body, with 454 horsepower and a six-speed automatic gearbox, it's a bit behind the times when 500 or 600 hp are the norm with seven- or eight-speed transmissions. The GranTurismo is also being phased out, but it's not nearly old enough to be a classic yet. Why would anyone spend their hard-earned dough for this Maserati? XCar Films aims to find out and eventually presents an interesting argument about why the GranTurismo is still worth at least considering against competitive entries from Aston Martin, Porsche, Ferrari or the rest of the European performance pack. This is likely just a temporary goodbye to the GranTurismo anyway, because Maserati plans to revive the name in 2018 with a production version of the Alfieri concept coming in the mean time. If nothing else, this video is a great way to say goodbye to the curvaceous coupe. Related Gallery 2014 Maserati GranTurismo MC Stradale four-seater News Source: XCarFilmsImage Credit: Related images copyright Maserati Maserati Coupe Performance Videos xcar maserati granturismo mc

Singapore car salesman jailed for gambling away $280k Maserati deposit

Kenny Rogers' country classic The Gambler is right about two things: you gotta know when to hold'em and know when to fold'em. A former Maserati salesman in Singapore is learning that lesson about when to step away from the table, after being sentenced to 33 months in prison for allegedly gambling away a customer's deposit of 350,000 Singapore dollars ($280,800).
According to Asia One, Allan Tan Buan Yuen was selling a Maserati in 2011. He told the customer that the car would take six months to arrive and cost 650,000 Singapore dollars ($522,000). While that may sound high, cars in the Asian country are notoriously expensive.
Yuen asked for a deposit of 150,000 Singapore dollars ($120,400), but instead of handing the money to the dealer, he placed the funds in his own account. Apparently, the customer didn't notice, and over the next few months Yuen received an additional 200,000 Singapore dollars ($160,400) towards the car from him. Clearly, this ruse couldn't last forever, though. When the buyer eventually inquired about his Maserati months later, Yuen admitted that he had already gambled away the entire fortune.