2013 Chrysler 300 on 2040-cars

Auto blog

FCA and iPhone maker plan Chinese electric vehicle joint venture

MILAN — Italian American automaker Fiat Chrysler and Taiwan's Hon Hai plan to set up a joint venture to manufacture electric vehicles and to engage in the business of wirelessly connected vehicles, Hon Hai said on Thursday. Fiat Chrysler (FCA) and Hon Hai are negotiating to set up a 50-50 joint venture, Hon Hai said in a statement. It added Hon Hai would hold its 50% share both directly and indirectly and that its direct shareholding would not exceed 40%. Hon Hai is the parent of Foxconn, the Chinese assembler of Apple iPhones. FCA last month reached a binding agreement for a $50 billion tie-up with France's PSA that will create the world's No. 4 carmaker. The joint venture with Hon Hai will produce vehicles for the Chinese market, but many details of the accord are still to be worked out, one source close to the matter said, adding that a final deal was expected to be signed in the coming months. Foxconn has been investing heavily in a variety of future transportation ventures for several years, including Didi Chuxing, the Chinese ride services giant, and Chinese electric vehicle startups Byton and Xpeng. Foxconn also has invested in Chinese battery giant CATL and a variety of other mostly Chinese transportation tech start-ups. FCA will launch its first full-electric model - the 500 small car - this year. Reporting by Giulio Piovaccari in Milan, additional reporting by Paul Lienert in Detroit. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

This week in EVs: Electric Jeeps, Chevy Equinox, reborn VW bus

There's going to be tons of car news next week as the Detroit Auto Show makes its return after 48 years. OK, so the pandemic and the show's shifting calendar only made it feel like 48 years, but January 2019 was still a long time ago. As we await that wave of headlines, let's look back at the substantial week that already was, specifically in terms of the electric car news that broke. Electric Jeep Recon and Wagoneer S blaze trail to brand's EV future Jeep declared Thursday to be 4xe Day as it revealed loads of previously unknown information about its future electrification efforts. The biggest surprise was the extremely cool and 100% electric Jeep Recon. Although it looks like a Wrangler, it's absolutely not a Wrangler replacement, and is indeed quite different for reasons besides its powertrain (independent front and rear suspension, fully enclosed fenders, fixed roof). As the photos attest, though, you'll be able to remove the doors and rear-quarter windows just like a Wrangler. And again, it's electric. Expect the Recon to be one of the most eagerly anticipated new vehicles over the next couple of years. Yes, years, plural. Production will start in 2024 with reservations accepted starting early next year. Jeep Recon View 5 Photos   There was then the Wagoneer S. Despite the name, it isn't a sportier Wagoneer variant or even an electric Wagoneer. In fact, the name is temporary according to chief designer Ralph Gilles. This sleek SUV, which sure looks like Jeep's attempt at a Range Rover Vilar (not a bad thing), will apparently have a 600-horsepower electric powertrain. It too will be produced in North America starting in 2024 with reservations starting early next year. Jeep Wagoneer S View 4 Photos   There actually WILL be an electrified Wagoneer, however: the Grand Wagoneer 4xe PHEV. That's good since the Grand Wagoneer gets pretty atrocious fuel economy. Details were light regarding specs, but we did get a half-decent photo. Finally, the first of these electrified Jeeps to launch will be the Avenger. Yes, Chrysler/Stellantis is dusting off an old Dodge name for a Jeep. That Dodge in question wasn't sold in Europe, though (good for them), which is important since the Jeep Avenger will only be sold on the other side of the pond. It's mechanically based on the same platform as several French Stellantis EV SUVs, and only goes 249 miles on the far more generous European WLTP test cycle.

Fiat shareholders green-light Chrysler merger, end of an Italian era

Fiat has just taken a major step away from its Italian heritage, as shareholders officially approved the company's merger with Chrysler. That move will lead to the formation of Fiat Chrysler Automobiles NV, a Dutch company based in Great Britain and listed on the New York Stock Exchange, according to Automotive News Europe.
The company captured the two-thirds majority at a special shareholders meeting, although there are still a few situations that could defeat the movement. According to ANE, roughly eight percent of shareholders opposed the merger, which is a group large enough to defeat the plan, should they all exercise their exit rights outlined in the merger conditions.
Meanwhile, Fiat Chairman John Elkann (pictured above, right, with CEO Sergio Marchionne and Ferrari Chairman Luca Cordero di Montezemolo), the great-great-grandson of Fiat founder Giovanni Agnelli, reaffirmed his family's commitment to the company beyond the merger. Exor, the Agnelli family's holding company, still maintains a 30-percent stake in Fiat.