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Fiat Chrysler's London offices will be small, with financial focus

Fiat Chrysler's decision to locate its new corporate headquarters in jolly old London won't herald a sprawling relocation effort. Instead, it's very likely that the FCA outfit will be a small one, primarily focused on finance.
The report comes from Automotive News Europe, which claims FCA's London office will employ about 50 people with backgrounds in finance. CEO Sergio Marchionne and Fiat Group Chairman John Elkann will both have offices at the corporate headquarters, as well.
ANE cites an anonymous source that claims the people employed at the London office will focus primarily on treasury operations. It's unlikely that FCA will take on any additional employees specifically for its UK offices. That said, FCA isn't likely to downsize either its Turin or Auburn Hills offices once London comes online.

Carmakers ask Trump to revisit fuel efficiency rules

Car companies operating in the US are required to meet stringent fuel efficiency standards (a fleet average of 54.5MPG) through 2025, but they're hoping to loosen things now that President Trump is in town. Leaders from Fiat Chrysler, Ford, GM, Honda, Hyundai, Nissan, Toyota and VW have sent a letter to Trump asking him to rethink the Obama administration's choice to lock in efficiency guidelines for the next several years. The car makers want to revisit the midterm review for the 2025 commitment in hopes of loosening the demands. They claim that the tougher requirements raise costs, don't match public buying habits and will supposedly put "as many a million" jobs up in the air. The Trump administration hasn't specifically responded to the letter, although Environmental Protection Agency nominee Scott Pruitt had said he would return to the Obama-era decision. The automakers' argument doesn't entirely hold up. While the EPA did estimate that the US would fall short of efficiency goals due to a shift toward SUVs and trucks, the job claims are questionable. Why would making more fuel efficient vehicles necessarily cost jobs instead of pushing companies to do better? As it is, even a successful attempt to loosen guidelines may only have a limited effect. All of the brands mentioned here are pushing for greater mainstream adoption of electric vehicles within the next few years -- they may meet the Obama administration's expectations just by shifting more drivers away from gas power. This article by Jon Fingas originally appeared on Engadget, your guide to this connected life. Related Video: News Source: ReutersImage Credit: Daniel Acker/Bloomberg via Getty Images Government/Legal Green Chrysler Fiat GM Honda Hyundai Nissan Toyota Volkswagen Fuel Efficiency CAFE standards Trump

Mike Manley named CEO of FCA amid Sergio Marchionne health crisis

Mike Manley has been immediately granted "all the powers of CEO" of Fiat Chrysler Automobiles. In a statement, FCA said its Board of Directors made this decision "in order to provide for his full authority and operational continuity for the company." Manley, who has been at the helm of Jeep since 2009 and Ram since 2015, is expected to be named an executive director for FCA after the next shareholder's meeting. In a similar statement, Ferrari said it had "named John Elkann as Chairman and will propose to Shareholders, at a meeting to be called in the coming days, that Louis C. Camilleri be named as CEO." CNH Industrial, a company that makes trucks, agricultural, and industrial equipment and which Marchionne also chairs, named Suzanna Heywood, as his replacement. Sergio Marchionne, who had served as CEO of both FCA and Ferrari, suffered "unexpected complications" as he was recovering from surgery performed earlier this month. FCA's statement adds that these complications "have worsened significantly in recent hours." Marchionne, credited with rescuing Fiat and Chrysler from bankruptcy since taking the wheel at the Italian carmaker in 2004, had been due to step down as the head of Fiat Chrysler next April. His internal successor had yet to be named. Marchionne had previously said he planned to stay on as Ferrari Chairman and CEO until 2021.Reuters contributed to this report.Related Video: Image Credit: Mark Thompson/Getty Hirings/Firings/Layoffs Chrysler Ferrari Fiat Sergio Marchionne