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FCA nears plea deal in diesel emissions fraud probe

Fiat Chrysler Automobiles (FCA) is nearing an agreement to plead guilty to criminal conduct to resolve a multiyear emissions fraud probe surrounding Ram pickup trucks and Jeep sport-utility vehicles with diesel engines, people familiar with the matter said. FCA lawyers and U.S. Justice Department officials are brokering a plea deal that could be unveiled in coming weeks and include financial penalties totaling between $250 million and $300 million, the people said. Such a resolution with FCA, which is now part of Stellantis NV, would come more than four years after Volkswagen AG pleaded guilty to criminal charges  to resolve its own diesel-emissions scandal involving nearly 600,000 vehicles.It would also mark the final significant chapter in the government crackdown on automakers' emissions practices that was precipitated by Volkswagen's deception, which became known as "Dieselgate." The FCA investigation focuses on roughly 100,000 diesel-powered vehicles that allegedly evaded emissions requirements. The plea negotiations are fluid and some terms, including the size of any financial penalties, could change as discussions continue, the people said. Justice Department officials are preparing paperwork that will likely be negotiated with FCA to finalize the plea deal, which could result in changes and also present an outside chance for the agreement to fall apart, the people said. A plea agreement would cap a series of investigations dating back to 2015 surrounding diesel-powered vehicles in FCA's U.S. lineup. The current criminal investigation targets the U.S unit of the Italian-American automaker. The affected vehicles span model years 2014 to 2016. Representatives for FCA parent Stellantis and the Justice Department declined to comment. The scandals over emissions cheating tarnished diesel technology and accelerated the industry's shift to electric vehicles. The European automakers had promoted "clean diesel" technology as a way to reduce carbon dioxide emissions and ease a transition to an all-electric future. When regulators on both sides of the Atlantic uncovered evidence that diesel vehicles polluted far more in real world driving, the argument for a slower transition to battery electric vehicles was shredded. Now, automakers are accelerating battery electric vehicle development to comply with tougher, post-Dieselgate pollution standards.

Stellantis aims to eliminate separate inverter, charger to improve EV efficiency

Stellantis has announced that, in collaboration with French battery company Saft and French National Center for Scientific Research, has made significant progress in eliminating two major components of an electric vehicle powertrain: the on-board charger and the power inverter for the motor. The company claims that doing this will allow for better space use in vehicles, as well as improvements in efficiency, cost and reliability of components. As a quick primer, also explained in the below video, the on-board charger and power inverter are sort of translators to get the right current to different parts of the electric powertrain. The on-board charger takes AC power from the grid and converts it to DC to charge the batteries. Then when power goes from the batteries to the electric motor, the power inverter converts that DC power back to AC. These components aren't exactly small. Frequently you'll find them packaged somewhere under the hood. What Stellantis and its cohorts have developed, and have been using on a test vehicle since last summer, are small power inverter boards that can be mounted very closely to the battery packs. They can handle both conversion needs, for charging and discharging, instead of needing two separate devices. The most obvious perk to this is that you can do away with those traditional components and free up more space, either for making smaller vehicles without losing interior volume, or adding space to a vehicle that wouldn't have had it otherwise. There's the additional benefit of reduced weight, something that EVs struggle with. Stellantis also claims improvements in efficiency, reliability, and cost, however, it didn't go into detail as to how this setup would do that exactly. We'll try to get in touch with representatives from Stellantis in order to get more information. We're still a ways out from seeing this technology in production Stellantis vehicles. The company said it aims to apply it to vehicles by the end of the decade. Saft is also looking at using it on stationary battery systems as well. So maybe we'll see it on a 2029 Ram 1500 REV, but for now, we'll be living with traditional chargers and inverters. Related Video: Green Alfa Romeo Chrysler Dodge Fiat RAM Technology Electric

China's Great Wall confirms its interest — in Jeep, or all of FCA

HONG KONG/SHANGHAI — Chinese automaker Great Wall Motor reiterated its interest in Fiat Chrysler Automobiles NV on Tuesday, but said it had not held talks or signed a deal with executives at the Italian-American automaker. China's largest sport utility vehicle manufacturer made a direct overture to Fiat Chrysler on Monday, with an official saying the company was interested in all or part of FCA, owner of the Jeep and Ram truck brands. Automotive News first reported the news, quoting Great Wall Motor President Wang Fengying as saying she planned to contact FCA to discuss acquiring the Jeep brand specifically. Those comments sent FCA shares higher but also raised questions over the ability of China's seventh-largest automaker by sales to buy larger Western rival FCA, or even Jeep, which some analysts value at as much as one-and-a-half times FCA. Great Wall sought to dampen speculation on Tuesday. It confirmed it had studied Fiat Chrysler, but said there was "no concrete progress so far" and "substantial uncertainty" over whether it would eventually bid. "The company has not built any relationship with the directors of FCA nor has the company entered into any discussion or signed any agreements with any officer of FCA so far," the company said in an English-language stock exchange filing. It did not give further detail. Fiat Chrysler stock dipped on the statement on Tuesday. Great Wall said trading in its Shanghai-listed shares would resume on Wednesday after having been suspended. Fiat Chrysler declined to comment on Great Wall's statement. On Monday, it said it had not been approached and was fully committed to implementing its current business plan. FLUSHING OUT RIVALS? Great Wall Motor, which was early to spot China's love of SUVs, had revenue of $14.8 billion last year and sold 1.07 million vehicles - but that compares with FCA's 2016 revenue of 111 billion euros ($130.6 billion). Analysts said Great Wall would need to raise both debt and equity to complete any deal, meaning its chairman Wei Jianjun could lose majority control. One possible scenario, according to analysts at Jefferies, would see Wei keeping a roughly 30 percent stake, while Great Wall would raise $10-$14 billion in debt and $10 billion in equity - hefty for a group currently worth just $16 billion. Ultimately, politics could be the clincher.