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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Stormtrooper Dodge Charger Episode V: The Empire Stops for Gas

We spent a day with a Dodge Charger that looks like a Stormtrooper helmet and made a few videos. In this clip, two Stormtroopers drive the helmet-mobile to a filling station. Because even Vader's soldiers need to refuel once in a while. Read about the car and watch the rest of the videos here. Dodge Videos Original Video star wars dodge charger scat pack the force awakens

Here are the Challenger SRT Demon's bare-minimum performance numbers

This week's Dodge Challenger SRT Demon teaser video provides what seems like more concrete evidence than any of the others before it. We say it seems that way because the numbers flashed on the screen are likely not showing us everything the car has to offer. So we're looking at these as the minimum performance stats and expecting Dodge to reveal even crazier numbers alongside the car next month. The video also provides some hints at features and modes the car will offer. Let's pick it apart. First off, there's the performance data from the various SRT Performance Pages screens. The 0–60 mph time is 3.0 seconds, which compares well to the "regular" Hellcat's 3.5-second manufacturer claim. Then there are two 0–100 times: 6.08 and 6.8. An eighth-mile time of 6.6 seconds at 125 mph and a quarter-mile time of 0.5 seconds at 129 mph lead us to believe the driver lifted off the throttle in that second eighth-mile and that the car will actually do the quarter in the low 10s. For reference, Dodge claims an 11.2-second quarter for the Hellcat on its street tires and a 10.8 with race slicks. View 7 Photos We also get a cryptic message about the supercharger boost pressure, which suggests it will be higher than the 11.6 psi of the 6.2-liter Hellcat engine. A graph shows it heading up toward 10 psi but the final spike is obscured by a Demon head. Cute. There's a hint at horsepower and torque numbers in a graph on the Dyno page, which shows both peaking around 750. In every shot of this video, the clock is set to 7:57, which we think means it either has that much power or, well, more. We think there's more to it because it appears that part of the graph above the dyno run shown, which would reach to 800 or 850, has been blanked out. A horsepower total of 808 would be a nice complement to the Hellcat's 707, don't you think? We can see from the shift indicator screen that the car will come with or at least offer the eight-speed automatic that's also available in the Hellcat and other Challengers. That's likely to be the best option for drag racing. The Demon's user-defined shift light feature, which lets you choose an optimal shift rpm for each individual gear, also suggests that a six-speed manual will be available. We'll cover the many modes and settings highlighted in this video in a separate post. There's a lot to discuss. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.