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Fiat ups Chrysler stake by 3.3%, inches closer to full control

Fiat is one step closer to completing a merger with Chrysler after exercising an option to acquire an additional 3.3 percent of the Auburn Hills-based automaker today. Automotive News reports that Fiat now controls 68.49-percent of Chrysler, which is up almost 10 percent since we last heard news of this deal back in February when Fiat talking to various banks to raise more capital in order to complete the acquisition.
The article says that Fiat is still able to increase its stake in Chrysler up to 75 percent over the next 12 months, but it sounds like CEO Sergio Marchinonne would rather purchase the remaining shares from VEBA - the retiree benefits trust - sooner rather than later. Unfortunately, the two sides still seem far from an agreement on a fair price for the rest of Chrysler, as Fiat has them valued at $4.2 billion compared to the $10.3 billion estimate from the unions that currently own the remaining stake in Chrysler.

Ward's Automotive Ten Best Engines of 2014 dominated by diesels, turbos

With the Car and Driver Ten Best decided, the North American Car and Truck of the Year finalists announced and Cadillac, Ram and Subaru chalking up wins with Motor Trend, it's fair to say that the automotive awards season is in full swing. The next set of trophies to be handed out will be from Ward's Automotive, which has announced the winners of its 2014 10 Best Engines.
The latest contest was marked by the widespread emergence of diesel power and the continued success of turbocharged engines. There was even an electric motor on this year's list. In fact, only three of the ten winners were naturally aspirated and only two winners returned from last year.
"We weren't looking to throw the bums out, as they might say about an election. We were just really impressed with the flood of new powertrains," said Ward's Automotive Editor-in-Chief Drew Winter. Those new powertrains include the 83-kilowatt electric motor from the Fiat 500e, the 1.0-liter, EcoBoost three-cylinder from the Ford Fiesta and the 2.0-liter turbodiesel from the Chevrolet Cruze.

Fiat 500e recalled over possible half shaft separation

The recently launched, all-electric Fiat 500e is already facing its first recall. According to The Detroit News, more than 270 of the EVs are being recalled to replace bolts that secure the vehicles' half shafts. The official number of affected vehicles has not been announced as of this writing, as Chrysler will not inform the National Highway Traffic Safety Administration of this issue until it accounts for all problematic 500e models that are currently sitting on dealer lots.
Chrysler confirmed to the News that the problem is in no way related to the 500e's electric powertrain, simply the half shafts. The automaker launched an investigation into this problem after learning that a customer's vehicle experienced power loss. Engineers reportedly found that two assembly steps had not been completed, and that this could lead to half shaft separation.
No injuries or accidents related to this problem have been reported. Chrysler will contact owners of the affected 500e models, who will receive rental vehicles while their Fiats are being fixed. Of course, all repair work will be completed free of charge.