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Stellantis N.V. (NYSE: STLA) and privately held Factorial Energy said today that their partnership to accelerate the development and deployment of next-generation electric vehicles (EVs) powered by Factorial’s solid-state battery technology* will begin with the launching of a demonstration fleet of all-new Dodge Charger Daytona vehicles based on the STLA Large platform incorporating solid-state batteries in 2026. Critics of solid state batteries maintain the thus far valid assertion that there is no clear path to mass production. Perhaps this will alter that perception at some pint in the future. However, demonstration fleets are not mass production. (read AutoInformed.com on: Solid-State Cell Technology – All Hype No Production Way?)*
“This demonstration fleet is an important milestone in our partnership with Factorial,” said Ned Curic, Stellantis’ Chief Engineering and Technology Officer. “By integrating Factorial’s innovative battery solution into the STLA Large platform, we are validating its potential to enhance our electric vehicle lineup, ensuring customers benefit from improved performance, longer driving ranges and faster charging times in the coming years.” Continue reading
Penske Automotive Group Buys Another Porsche Dealership
Penske Automotive Group (NYSE: PAG) said today that it has signed an agreement to acquire Porsche Centre Melbourne, located in Melbourne, Australia, from Porsche Retail Group Australia Pty Ltd. Upon completion of the acquisition, Porsche Centre Melbourne will expand the Company’s partnership with Porsche in Melbourne. The acquisition is expected to add $130 million in estimated annualized revenue, bringing the estimated annualized revenue for the three Porsche Dealerships in Melbourne to $260 million. The acquisition is subject to customary conditions and is expected to close by the end of 2024. This will be 25th Porsche dealership that Penske owns globally. (Read AutoInformed.com on: Penske Automotive Completes Acquisition of Rybrook Group; Mannheim – Porsche Penske Motorsport Reveals Team Home; Penske Automotive Group Posts Lukewarm Q2 Results)
“We are thrilled to extend our relationship with Porsche in Melbourne and are committed to providing exceptional service and innovative retail experiences that exceed our customers’ expectations,” said Penske Automotive Group Head of International Operations Randall Seymore. Continue reading →