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EIB ups financing for Fiat Chrysler's electric vehicles to $949 million

MILAN — The European Investment Bank (EIB) has increased to almost 800 million euros ($949 million) its funding to Fiat Chrysler Automobiles (FCA) to support production of electric and hybrid vehicles, they said in a joint statement. Investments to manufacture battery electric vehicles and plug-in hybrid electric vehicles will be mainly directed at FCA plants located in southern Italy, supporting employment and compliance with the strictest environmental criteria. To improve capacity utilization at FCA's Italian plants, the group has announced a 5 billion euro investment plan for the country through 2021 which envisages the launch of new electric and hybrid models. EIB and FCA had sealed 300 million euros in financing before the summer to fund investments for plug-in hybrid electric vehicle production lines at plants in Melfi, in the southern Basilicata region, and battery electric vehicles at Fiat's historic Turin plant of Mirafiori over the 2019-2021 period. FCA has now finalized a 485 million euro deal with EIB to support both an innovative line of plug-in hybrid electric vehicles at the Pomigliano plant in the southern Campania region as well as R&D activities at FCA laboratories in Turin. The EIB credit line covers 75% of the total value of FCA's investment in the project for the 2020-2023 period. Earnings/Financials Green Plants/Manufacturing Chrysler Fiat

Chrysler Pacifica owners report sudden power loss; FCA can’t figure out why

More than 50 owners of the Chrysler Pacifica minivan have filed complaints with the National Highway Traffic Safety Administration, alleging that the vehicle has suddenly lost power while on the road, posing a serious safety risk to owners. The New York Times reports that other Pacifica owners have described similar incidents on a Pacifica online chat forum and on Facebook. The problem seems to be affecting a small fraction of the more than 156,000 Pacificas sold since the minivan was introduced in 2016. No crashes or injuries have been linked to the problem, and dealers have been unable to replicate the issue on affected vehicles they have examined. Fiat Chrysler says it's looking into the problem but hasn't been able to identify the source. FCA spokesman Eric Mayne told the Times the company "is unaware of any injuries by accidents associated with these complaints" but takes customer concerns seriously. He said there was no indication that airbags or seatbelt tension were compromised by the issue. The Pacifica's airbags remain operational even when the vehicle loses power.Search for recall news on our hub. Try Autoblog's Car Finder to search for your next new vehicle. One owner, Adam Cohen, of Leesburg, Va., said his 2017 Pacifica shut down twice while his wife was driving it. He's been discussing the issue with Chrysler engineers and quality officials in recent weeks and even wrote to FCA Chief Executive Sergio Marchionne. "They want to put a data recorder on my Pacifica and have me take it back and drive it around," he told the Times. "I told them they should drive it themselves and wait for it to happen. I don't want my family to be their test dummies. And that's where it stands. We're at a deadlock."Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2017 Chrysler Pacifica: First Drive View 35 Photos Image Credit: Christopher McGraw / Autoblog Auto News Chrysler Driving Safety Minivan/Van new york times

Ward's releases 10 Best Interiors list for 2014

While we're still a ways off from the automotive awards season proper, where things like North American Car and Truck of the Year, Motor Trend's Car of the Year and Car and Driver's Ten Best are named, that doesn't mean there aren't trophies being handed out to deserving automakers. Ward's 10 Best Interiors being one of them.
As the name might imply, the magazine focuses on the very best interior treatments in the US market. Whereas some awards purposely exclude extreme, high-dollar offerings, Ward's considers them - the only requirement is that a vehicle has a "new or significantly redesigned interior."
Ward's offered up the list of winners in simple, alphabetical order, and it only seems fair to do the same: