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Mike Manley and Louis Camilleri appointments confirmed after shareholder votes

AMSTERDAM – Fiat Chrysler shareholders held a meeting yesterday to officially vote on the appointments of Mike Manley as CEO of FCA and Louis Camilleri as the CEO of Ferrari. Manley and Camilleri were announced as the replacements for Sergio Marchionne following the former chief's sudden death. At the same time, FCA announced that it would place John Elkann in the role of Chairman. A minute-long moment of silence was held at the start of the meeting in honor of Marchionne. According to reports, 99 percent of shareholder votes were in favor of Manley's appointment at FCA, and 98 percent were in favor of Camilleri taking the CEO role at Ferrari. Manley said at the shareholder's meeting that he will announce his organizational plans for the automaker by the end of September. "When we learned Sergio Marchionne could not return to work the board decided to appoint Mike Manley, who was the only candidate," Chairman John Elkann said. The chairman added the decision was based on succession plans the board was working on with Marchionne for his planned departure in 2019. Of Camilleri's direction at Ferrari, Elkann said, "Sergio Marchionne strengthened the foundations of Ferrari, now we can build on that for the future, which will be a bright future."Reuters contributed to this report.Related Video: Image Credit: Daniel Acker/Bloomberg via Getty Chrysler Fiat Sergio Marchionne FCA Mike Manley

EV cost burden pushing automakers to their limits, says Stellantis' CEO Tavares

DETROIT — Stellantis CEO Carlos Tavares said external pressure on automakers to quickly shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle with EVs' higher costs. Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said. "There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost. Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said. Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm. "Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said. "The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits." Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade. Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from both establishment automakers such as GM, Ford, VW and Hyundai, as well as start-ups such as Tesla and Rivian. The latter electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the highly profitable Jeep and Ram brands. That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035.

2021 Chrysler Pacifica Review | What's new, hybrid fuel economy, pictures

The 2021 Chrysler Pacifica offers something no other minivan can match: a plug-in hybrid model that can go 32 miles on electricity alone and therefore slash your annual fuel bill. It also costs less than the regular V6 version (and Toyota's traditional, non-plugged-in hybrid Sienna) when you factor in federal and state tax credits, and we even like driving it more. In other words, the Pacifica Hybrid is the one to get. But is that novel powertrain enough to make the Pacifica a better choice than the scarce number of other vans for your? Well, considering that the V6-powered version can hold its own against the Honda Odyssey, Toyota Sienna and Kia Sedona/Carnival (literally the only other options), it's a distinct possibility. The Pacifica Hybrid is basically tied with the Sienna has our top choice in the segment in our comparison test, but with so few other rivals, we still recommend checking out the full field. It's also worth noting that Honda, Toyota and Kia have stronger reliability ratings than Chrysler, while the Hybrid's higher monthly payments may not fit your budget despite the hefty one-time tax refund. In any event, no minivan search is complete without at least considering the Pacifica.     What's new for 2021? The Pacifica gets its first comprehensive set of upgrades since being relaunched as a minivan back in '17. The front end has been restyled and LED lighting applied as standard front and rear (the budget-oriented Chrysler Voyager maintains the Pacifica's old look). The Pacifica also now matches its rivals by including a full suite of driver assistance and safety technologies as standard equipment. Infotainment technologies have also been upgraded: Chrysler's latest UConnect interface is paired with a standard 10.1-inch touchscreen; standard Apple CarPlay and Android Auto have been upgraded to wireless connectivity, and Amazon Alexa has been added. New available equipment includes USB-C ports, wireless smartphone charging, the FamCAM rear interior camera, and new games for the rear seat entertainment system. Also new for 2021 is the option of all-wheel drive and the range-topping Pinnacle trim level. The Pacifica Hybrid has also been changed to a powertrain option for the Touring, Touring L, Limited and Pinnacle trim levels – it was technically a separate model before. This is simpler. What are the Pacifica interior and in-car technology like? The Pacifica interior is a lovely place to spend time.