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Fiat Chrysler plans to speed up its product development

Fiat Chrysler is streamlining its global product development process in a bid to bring new or updated models to showrooms more quickly, reflecting heightened consumer expectations but also massive technological upheavals brought by things like electric vehicles, self-driving cars and ever more strident safety regulations. FCA recently announced plans to flatten its corporate product development structure across its global properties to reduce complexity, speed decision making and get products to the market faster than the years it can take today. It's similar to what Jim Hackett has been trying to do across town at Ford. FCA Chief Technology Officer Harald Wester, who is also executive chairman of Maserati, will oversee the reorganized product development unit. The company says it has already committed ˆ9 billion — nearly $10 billion at current exchange rates — toward its five-year plan to launch 30 new electrified nameplates globally, with plug-in hybrid versions of the Jeep Compass, Renegade and Wrangler due up first along with a full-electric Fiat car and commercial van. Maserati has also received a ˆ1.6 billion investment to bring about hybrid and battery-electric powertrains, plus Level 3 autonomous capabilities. “The industry has never experienced technological change at the pace we are now seeing,” CEO Mike Manley said in a statement. “So, weÂ’re unleashing the creative energy of our engineers and technical experts for the benefit of our customers and stakeholders worldwide.” One of the biggest changes is integrating powertrain and vehicle engineering, previously separate units, in a global process involving more collaboration and better deployment of resources. Engineering will also be supported by five centers of technical competence, including groups that will develop electronic architectures and another focused on advanced technologies. FCA says product development has previously been served by several different organizations that operated as regional sub-groups or standalone units. Left unmentioned is whether the merger with PSA Group, which will reportedly result in nearly 70 percent of all models produced by the two brands moving to just two PSA platforms, is helping to push the timeline on these changes. FCA is also making greater use of the Alfa Romeo Giorgio platform, planning it for the next-generation Jeep Grand Cherokee.

Samsung Galaxy Note 7 disaster endangers FCA's Magneti Marelli sale

Samsung's financial and public relations positions are going up faster than one of the company's Galaxy Note 7 smartphones, and that's bad news for Fiat Chrysler. FCA was in talks with the South Korean tech giant to sell all or a portion of Magneti Marelli, the enormous Italian parts supplier. The deal, estimated to be in the $3 billion range, was a big part of FCA CEO Sergio Marchionne's five-year plan to slash his company's ˆ5.5 billion ($6.07 billion at today's rates) debt. But Samsung's flaming phones may have stalled the deal, Automotive News reports. Samsung was hoping to acquire all or part of Magneti to gain access to its lighting, in-car entertainment, and telematics business, all in a bid to reduce its reliance on occasionally explosive consumer electronics, AN's sources report. This week alone, Samsung permanently ended production of the Note 7 and began recalling millions of devices, sending out flame-proof return boxes so owners can ship the device back in relative safety. The disaster has already caused Samsung to slash its third-quarter operating profit by $2.3 billion, and is leading the company to divert its attention away from big, blockbuster deals, people "who asked not to be identified because the negotiations are private" told AN. According to the same sources, the two sides haven't even agreed on a valuation for Magneti Marelli. Neither company was willing to comment on the potential sale. Related Video: News Source: Automotive News - sub. req.Image Credit: Andrew Zuis / AP Chrysler Fiat Technology Smartphone Sergio Marchionne FCA Samsung

Dongfeng and PSA extend Chinese joint venture

BEIJING/PARIS — China's Dongfeng and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles (FCA). Dongfeng said on Thursday it had agreed with PSA to extend the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). Under the deal, the venture could get the rights to PSA's new brands in China and will benefit from new technologies and intellectual properties, the Chinese company said. PSA was not immediately available for comment. The announcement comes a day after the companies said Dongfeng would reduce its 12.2% stake in PSA by selling 30.7 million shares to the French company. Analysts said the move could smooth U.S. regulatory approval for PSA's roughly $50 billion (GBP38.97 billion) merger with Italian-American carmaker FCA. The sale of Dongfeng's shares in PSA, worth around 680 million euros ($757 million), will leave the Chinese group holding around 4.5% of the merged PSA-FCA, which is set to become the world's fourth-biggest carmaker by sales volumes. "As the cooperation between Dongfeng and PSA deepens, we expect the joint venture to continue making good progress in China," a Dongfeng representative said. On a conference call, Dongfeng said DPCA would have exclusive rights to PSA's Opel cars should the partners agree to bring the brand to China, and enjoy lower prices on car parts imported from PSA. Earlier this year, a document seen by Reuters showed Dongfeng and PSA plan to cut jobs at Wuhan-based DPCA and reduce its number of car plants to try to make the venture more profitable. Chrysler Dodge Fiat Jeep RAM Citroen Peugeot China FCA PSA Dongfeng