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FCA compromises with France, moving Renault merger bid forward

FRANKFURT/PARIS – Renault directors were preparing to review Fiat Chrysler's $35 billion merger offer on Tuesday, after the Italian-American carmaker resolved differences with the French government overnight, three sources said. The compromise on French government influence over a combined FCA-Renault may clear the way for Renault's board to approve a framework agreement beginning the long process of a full merger, unless new issues surface at the meeting. France, Renault's biggest shareholder with a 15% stake, had been pressing for its own guaranteed seat on the new board and an effective veto on CEO appointments. But after late-night talks with FCA Chairman John Elkann, the French government has accepted a compromise that would see it occupy one of four board seats allocated to Renault, balanced by four FCA appointees, the sources said. Renault would also cede one of its two seats on a four-member CEO nominations committee to the French state, they said. Renault, FCA and the French government all declined to comment on the discussions. The same evening that the compromise was was negotiated, activist hedge fund CIAM wrote to the board of Renault to say it "strongly opposed" a planned $35 billion merger with Fiat Chrysler. Calling the deal "opportunistic," the fund said the current deal terms strongly favored Fiat Chrysler and offered no control premium. (Reporting by Arno Schuetze and Laurence Frost; additional reporting by Giulio Piovaccari in Milan and Simon Jessop; editing by Jason Neely and Rachel Armstrong) Government/Legal Chrysler Fiat Mitsubishi Nissan Renault merger

Dodge Grand Caravan reportedly will cease production in 2020

The Dodge Grand Caravan looks like it may finally be reaching its demise next year. A report from Automotive News Canada says the old Dodge minivan will cease production in May 2020. The report cites AutoForecast Solutions as the source of its news. FCA confirmed to us that the van will be going away eventually, but the company is not ready to put an official end date on it yet. For the time being, it looks like the Grand Caravan’s long run will eventually grind to a halt in Windsor, Ontario, the vanÂ’s only production site. With the introduction of the Chrysler Voyager as the budget minivan option from Chrysler, FCA may think it no longer has any use for the outdated Dodge. The Grand Caravan has a starting price of $28,535, whereas the new Voyager is priced from $28,480. ThatÂ’s an almost identical starting point, but we still donÂ’t know what kind of incentives FCA will offer for the Voyager. There are typically big cuts for the Grand Caravan, which have pushed recent average transaction prices down to $24,972. We imagine itÂ’ll be much more difficult for FCA to offer discounts of that magnitude to Voyager shoppers. Still, AutoForecast Solutions told Automotive News it believes FCA will transition folks away from the Grand Caravan. “For the 2020 model year, theyÂ’ll likely run to fleet and then get the consumers to buy the new Voyager,” says Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions. Eliminating the Grand Caravan would be a strong bet on ChryslerÂ’s strategy of splitting the Pacifica into two different model lines. Nearly every month, FCA sells more Grand Caravans than Pacificas. The Pacifica is the far superior minivan to own, but you canÂ’t argue with a cheap price. Once the Grand Caravan is gone, budget minivan buyers will have no choice but to buy a Voyager if they want the cheapest new option out there. Entries from the few other manufacturers that produce minivans are all going to be more expensive than the Voyager. The 2020 Pacifica and Voyager team are slated to reach dealers later this year, but it wonÂ’t be until next year that weÂ’re able to fully take stock of how this plays out for FCA.

7 major automakers to build open EV charging network

A new joint venture established by BMW, GM, Honda, Hyundai, Kia, Mercedes-Benz and Stellantis will build a new North American electric vehicle charging network on a scale designed to compete with Tesla's industry-benchmark Supercharger network. The 30,000-plus planned new chargers will accommodate both Tesla's almost-standard North American Charging System (NACS) and existing automakers' Combined Charging System (CCS) options, effectively guaranteeing compatibility with the vast majority of current and upcoming electric models — whether they're from one of the involved automakers or not.  "With the generational investments in public charging being implemented on the Federal and State level, the joint venture will leverage public and private funds to accelerate the installation of high-powered charging for customers. The new charging stations will be accessible to all battery-powered electric vehicles from any automaker using Combined Charging System (CCS) or North American Charging Standard (NACS) and are expected to meet or exceed the spirit and requirements of the U.S. National Electric Vehicle Infrastructure (NEVI) program." Critically, the automakers involved will have a say in how the charging tech is implemented, guaranteeing that the hardware will play nicely with each automaker's in-house charging systems. Hyundai and Kia, for example, were hesitant to jump on board the Tesla NACS bandwagon earlier this year over concerns that the Supercharger network is insufficient for powering the two automakers' 800-volt charging systems; similar tech is used by Volkswagen and Porsche.  In addition to providing much-needed capacity and high-output charging for America's growing fleet of electric cars and trucks, the new network will integrate seamlessly with each automaker's in-app and in-vehicle features, rather than forcing customers to use third-party tools and payment systems, as is the case with some existing public charging infrastructure.  "The functions and services of the network will allow for seamless integration with participating automakersÂ’ in-vehicle and in-app experiences, including reservations, intelligent route planning and navigation, payment applications, transparent energy management and more. In addition, the network will leverage Plug & Charge technology to further enhance the customer experience," the announcement said.