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Merged PSA and Fiat would retain all brands, Tavares says

By Elisa Anzolin and Gilles Guillaume PARIS/TURIN, Italy (Reuters) - Peugeot maker PSA Group and Fiat Chrysler would retain all of their car brands if their planned $50 billion merger goes ahead, the would-be chief executive of the combined group said on Friday. PSA CEO Carlos Tavares, seen as the architect of PSA's turnaround and in line to take the operational helm in the Fiat tie-up, said in a TV interview that the companies complemented each other well geographically and in terms of technology and brands. FCA derives 66% of its revenue from North America compared with only 5.7% for PSA, Refinitiv Eikon data shows. Europe remains the main revenue driver for PSA. "There's no doubt it's a very good deal for both parties. It's a win-win," Tavares told France's BFM Business, in his first interview since the French and Italian companies announced plans to create the world's fourth-largest auto maker last week. Fiat Chrysler (FCA) Chairman John Elkann, who would chair the combined group, said on Friday at an event in Turin that the 50-50 share merger would help the Italian carmaker "seize great opportunities." The deal, which would help the firms pool resources to meet tough new emissions rules and investments in electric and self-driving vehicles, as well as counter a broader downturn in car markers, is still at an early stage. PSA and Fiat have said they aim to reach a binding outline in the coming weeks, but still face questions over potential job losses, as well as scrutiny over whether the transaction favors one party more than the other. Tavares said the brands that would come under the combined group's umbrella — PSA's five passenger car nameplates include Citroen, Vauxhall and Opel, while FCA has nine, including Fiat, Alfa Romeo, Maserati, Chrysler, Dodge and Jeep — were all likely to survive. "As of today, I don't see any need to scrap any of the brands if the deal came to pass. They all have their history and their strengths," Tavares said. Few carmakers have as large a portfolio, with German rival Volkswagen Group counting 10 passenger brands, if newer Chinese ones such as electric vehicle label Sihao are included. The merger will also require approval from anti-trust authorities. Tavares said he did not expect the companies to have to make major concessions to meet competition rules, but added they were ready to do so, without giving details.

Plug-in BMWs, long-term updates and the best of SEMA 2018 | Autoblog Podcast #560

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Reese Counts. The pair discuss the BMW 740e xDrive iPerformance plug-in hybrid as well as our long-term Chrysler Pacifica Hybrid and Honda Ridgeline. They also discuss the best of SEMA Show 2018, including some pretty wild cars from Dodge and Chevy. Finally, we spend your money. This week, rather than pulling questions in from our email, we head to Reddit to answer some questions on r/cars.Autoblog Podcast #560 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2018 BMW 740e xDrive iPerformance 2018 Chrysler Pacifica Hybrid long-term 2018 Honda Ridgeline RTL-E long-term SEMA Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Green Podcasts BMW Chrysler Dodge Honda chrysler pacifica

UAW workers in Indiana, Stellantis reach tentative deal to end strike

United Auto Workers union members who went on strike Saturday at the Stellantis casting plant in Indiana have reached a tentative deal with the company. The UAW Local 1166 bargaining committee announced a tentative agreement in a blog post, saying that a ratification vote would be held Monday. Stellantis confirmed the tentative deal Monday. The strike was related to health and safety issues, including the company’s alleged refusal to repair and replace the plantÂ’s air conditioning and heating systems. The 35-acre plant in Kokomo makes parts used in the power trains of Chrysler, Dodge, Jeep and RAM vehicles. The 1,200-worker plant, Kokomo Casting, is the worldÂ’s largest die cast facility, according to Stellantis. In May, Stellantis announced a $2.5 billion joint venture with Samsung to build an electric vehicle battery factory in Kokomo that is to employ 1,400 workers. Stellantis, created last year through the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, had said it would build two electric vehicle battery factories in North America. The other is slated for Windsor, Ontario. Plants/Manufacturing UAW/Unions Chrysler Dodge Jeep RAM