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Fiat, PSA poised to win EU approval for $38 billion Stellantis merger

BRUSSELS/MILAN — Fiat Chrysler and PSA are set to win EU approval for their $38 billion merger to create the world's No.4 carmaker, people close to the matter said, as they strive to meet the industry's dual challenges of funding cleaner vehicles and the global pandemic. The green light from the European Commission would formalize the creation of Stellantis, a carmaking group that could tap hefty profits from selling Ram pickup trucks and Jeep SUVs to U.S. drivers to fund the expensive development of zero-emission vehicles for sale in Europe and China. The all-share merger announced late last year would unite brands such as Fiat, Jeep, Dodge, Ram and Maserati with the likes of Peugeot, Opel and DS — while targeting annual cost cuts of 5 billion euros ($6 billion) without closing factories. The Commission and Italian-American group Fiat Chrysler Automobiles (FCA) declined to comment. France's PSA did not immediately respond to a request for comment. PSA and FCA shares reversed losses after the Reuters story was published. PSA stock was last up 2% at 16.83 euros, while FCA shares were 1.9% higher at 11.31 euros. To allay EU antitrust concerns, PSA has offered to strengthen Japanese rival Toyota Motor Corp, with which it has a van joint venture, by ramping up production and selling it vans at close to cost price, the people said. FCA and PSA will also allow their dealers in certain cities to repair rival brands. Following feedback from rivals and customers, the carmakers only had to tweak the wording of their concessions, with no changes to the substance, the people said. The companies did not have to use the COVID-19 pandemic to argue for the merger, they added. FCA and PSA have said they hope to complete the merger in the first quarter of 2021. The challenge of switching to electric cars has been complicated by the COVID-19 pandemic. Just last month, FCA and PSA restructured the terms of their deal to conserve cash and raised their targeted cost savings because of the economic fallout from the health crisis. The companies have said about 40% of the savings will come from product-related expenses, 40% from purchasing and 20% from other areas, such as marketing, IT and logistics.

2023 Chrysler 300 gets one new option, otherwise unchanged

Chrysler dropped the goss on the 2023 Chrysler 300 sedan, a bit of whispering that took barely half a minute to read. There is one change coming to next year's 300: The entry-level Touring trim gains the option of the SafeyTec Plus Group. That bundle of features includes advanced brake assist, rain-sensing windshield wipers, LaneSense Lane Departure Warning with Lane Keep Assist, ParkSense front and rear park assist, auto high-beam headlamp control, Full-speed Forward Collision Warning with Active Braking, adaptive cruise control (ACC) with stop, an Alpine audio system with six speakers and a 276-watt amplifier, and an 80-amp alternator. The package costs $2,495 on the next model up, the Touring L, which is probably close to what Chrysler will charge on the Touring. The other new news is a special edition inbound for next year, but the automaker hasn't divulged anything about it. Mopar Insiders says Chrysler will hold a special event at the Detroit Auto Show next week, perhaps we'll find out more then. For a car old enough to have transported Walter P. Chrysler to work and gets effectively zero support in a dying segment, the 300 still looks and performs well and sells adequately. Whereas the Dodge Charger has averaged about 78,000 sales in each of the past two years in the U.S., the 300 had averaged about 17,000 sales in each of the past two years. We'd love to see Chrysler do something — anything — with it before the rumored electric successor arrives. The brand has a huge revamp in the works, though, so we'd also understand Chrysler leaving the old girl in a corner to do her best. Prices haven't been announced yet. We'd expect nominal increases over the current range, which starts at $35,140 for the entry-level rear-wheel-drive Touring and tops out at $46,945 for the 300S with the Hemi V8 before incentives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Chrysler may be testing a Hellcat 300

Another day goes by, and another mysterious, undisguised SRT prototype comes out of FCA. This time we have a Chrysler 300 SRT that looks nearly stock except for its footwear. Our spy photographer got up close and personal with this machine, and found that it has the same wheels with 315-mm tires that were on the early Dodge Demon prototypes. The only difference is the wheels on this 300 have Chrysler-branded center caps. All that extra width means these wheels stick pretty far out from the wheel wells, which would suggest that any production car running this setup would have flares to cover the wheels. Behind those wheels are four-piston Brembo calipers and slotted discs that looks similar to those on the current 300 SRT. We doubt that Chrysler is building a Demonized version of the 300, but the tires do suggest that this is a much more potent 300 than the current SRT, which was discontinued in the US in 2015 but is still sold in the Middle East and Australia. That's not all we have to go on, though, since our spy photographer says it sounded like it had Hellcat power under the hood. Equipping a 300 with a Hellcat engine would be a breeze, too, since the engine is already in the Charger, which is virtually identical mechanically. What you may be wondering is why Chrysler is adding a Hellcat version of the 300 SRT when that model hasn't been available in the US since 2015. One possible reason is that this would finally allow Aussies access to the 707-horsepower machine. Dodge is not a brand offered Down Under, so it doesn't get the Charger Hellcat, leaving the 300 as the only V8, rear-drive Mopar available. And for the Middle East, if the normal 300 SRT was selling well, it would only make sense to offer another variant. It shouldn't cost Chrysler too much to develop this model either, since the 300, mechanically, is virtually identical to the Charger. Related Video: Featured Gallery Chrysler 300 SRT Hellcat Widebody Spy Photos View 16 Photos Image Credit: Brian Williams Spy Photos Chrysler Performance Sedan chrysler 300 srt8