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Fiat Chrysler CEO says final merger talks with Peugeot going well

BRUSSELS — Fiat Chrysler's chief executive Michael Manley said on Wednesday that merger talks with Peugeot owner PSA  to create the world's No. 4 carmaker are progressing well and he hopes to have a deal within 12-14 months. Speaking to Reuters on the sidelines of an industry meeting, he said he doesn't expect any major obstacles that could delay a final agreement. "Talks are progressing really well," Manley said about negotiations with the French carmaker ahead of a briefing by the European automotive association (ACEA), of which he is president. His comments come a month after the two carmakers agreed to a binding deal worth about $50 billion to combine forces in response to a slowdown in global demand and mounting costs of making cleaner vehicles amid tighter emissions regulations. Manley's timeline for completing the deal by early 2021 is in line with a forecast made by the companies in December. Fiat and Peugeot are now getting into the details of how the merger will work, including choosing which vehicle platforms — the technological underpinnings of a vehicle — will fit which products in a combined company. Because customers in different locations still prefer vastly different cars, there is room for multiple platforms in a combined group, Manley said. "That global platform is an elusive beast," he added. "This concept of a massive global platform in my mind is almost a myth, but that doesnÂ’t mean to say weÂ’re not going to recruit significant volume." Related Video:    

Chrysler set to make $266M-investment into 8-speed transmission production

Chrysler will shortly make a significant $266-million investment into its Kokomo, IN transmission factory in a bid to expand production of its eight-speed automatic transmissions. The gearboxes, which are built under license from Germany's ZF Friedrichshafen, have been well received by customers and critics, and according to an SEC filing obtained by Automotive News, the transmissions will eventually find their way to all of Chrysler's rear-drive offerings (Viper and heavy-duty Ram models, aside). According to AN, a Chrysler spokesman says the investment has not been confirmed, but once it is, it'll mark the company's latest in a growing line of investments at the facility. Chrysler has poured $1.5 billion into Kokomo since 2009.

Viper owners raising money to retake the Nurburgring lap record

Nurburgring lap times – unofficial as they may be – are the locker room comparison contest of the automotive world. For several years, the lap record of 7:12:13 was held by a 2011 Dodge Viper ACR. The Viper and America were the rulers of the roost until the usurper, the Porsche 918, came in a stole the crown. The death knell is ringing for the Viper, and a group of owners are raising money to send the car to the 'Ring for one last chance at glory. The current Dodge Viper ACR is an astonishingly capable car. All of the flaws that make it miserable to live with everyday - stiff suspension, obnoxious exhaust, speed-bump-gouging splitter - make it one of the most formidable road-legal track machines ever created. Unfortunately, that single-purpose nature turned off a lot of customers, and slow sales have led to the end of Viper production. The Viper holds lap records on more than a dozen of tracks, but, like a driver winning the Indianapolis 500, only one belt notch truly matters. The ViperExchange is willing to supply two ACRs and two drivers well versed in the Nurburgring in order to retake the record. The problem with attempting to set the record is mostly down to logistics. According to the GoFundMe page, the total cost to send the cars, pay for the track, the supplies, and operating expenses is about $150,000 and $200,000. The group says this is entirely a volunteer effort and are asking for donations to fund the Viper's return. Those wishing to help replant the stars and stripes and fill the forests of Germany with the truck-like roar of an odd-firing V10 can donate online. If they fall short, donations will be returned. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: GoFundMe Auto News Dodge Coupe Racing Vehicles Performance dodge viper acr nurburgring record lap record