Fiat Abarth 500 2013 Grey Non Smoking 1200 Miles on 2040-cars

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FCA withdraws its offer to merge with Renault

UPDATE: Fiat Chrysler Automobiles released a statement confirming that it has withdrawn its merger offer, saying "it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully." The full statement can be read below our original story, which continues below. Fiat Chrysler has withdrawn its $35 billion merger offer for Renault, the Wall Street Journal and Bloomberg News reported on Wednesday. A source said that FCA had informed Renault it had withdrawn the offer after Renault's board of directors failed to reach a decision on the merger during a meeting that ran late into the night Wednesday. Instead, the board granted the French government's request to postpone its vote. The government wanted time to persuade Renault's reticent alliance partner Nissan. Renault's board issued a press release that said simply that it was "unable to take a decision due to the request expressed by the representatives of the French State to postpone the vote to a later Council." WSJ reported that Nissan's two members on Renault's board were balking, while the rest of the board favored the merger. The French government wouldn't it back the deal unless Nissan agreed to maintain its role in the Renault-Nissan alliance, sources said. Nissan had received little advance warning of the merger proposal and was balking. Apparently the French government thought Nissan could be brought around if given more time. "We should take our time to make sure that things are done well," French Finance Minister Bruno Le Maire told French television on Wednesday. When the French requested a delay and Renault's board granted it, FCA withdrew. The French state, which owns 15% of Renault, had also been seeking more influence over the merged company, firmer job guarantees and improved terms for Renault shareholders in return for blessing the $35 billion tie-up. The merger would have created the world's third-biggest automaker with combined sales of 8.7 million vehicles per year, and was intended to cut costs as the parties develop electric and autonomous vehicles. Read Fiat Chrysler Automobile's full statement below: FCA withdraws merger proposal to Groupe Renault June 5, 2019 , London - IMPORTANT NOTICE The Board of Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA), meeting this evening under the Chairmanship of John Elkann, has resolved to withdraw with immediate effect its merger proposal made to Groupe Renault.

2020 Fiat 500X Sport Design Driveway Test

The Fiat 500X received a big update for 2019 with a new 1.3-liter turbocharged engine. As such, it's no surprise the 2020 Fiat 500X only sees minor updates, but one of them is rather striking, the introduction of the Sport trim level. However, it's only an appearance change, so it doesn't drive any better than the base model. The changes are impressively effective at evoking sportiness, though. All of the fender flares and side skirts are changed to body color, giving the car a lower, wider look. This is aided by the revised front and rear bumpers. At the front, the bumper gets larger grilles, and at the rear is a faux diffuser and vent design instead of a faux skid plate finish. Adding a bit of contrast are satin grey metallic accents on the front bumper, door handles and mirrors. The same color is applied to the large 19-inch alloy wheels. The look is smart and sporty all around, and really helps distinguish the 500X in a sea of tiny crossovers cosplaying as more rugged SUVs. Our particular example also came with the optional contrasting black roof. It's $445 and seems worth it, particularly with one of the bright gloss colors such as our Rovente Red — Italia Blue or Bianco Gelato are also acceptable alternatives. It highlights those bright colors effectively and adds some visual interest to the package. Fiat also added some interior touches to complement the sporty character. The Alcantara-trimmed steering wheel and Alcantara wrappings on the instrument cluster are both immediately noticeable. And, with how common Alcantara has become in high-end sports cars, these are effective at conveying a sporty feeling, as do the paddle shifters that the package also adds. The dashboard's satin gray paint is another highlight that matches the exterior accents. While body color panels would be brighter and more cheerful, this satin paint feels more premium than gloss paint when running your hands across it. The embroidered 500 logo in the seats is another premium-feeling accent. These are appreciated in a cabin where there are less prominent plastics that feel especially low rent. Now, the Sport trim is easily our favorite looking version of the 500X, but there's an added cost for the improved looks. It's $2,305 above the base trim, not including the two-tone paint, and it really only nets you the appearance items and the shift paddles.

FCA and iPhone maker plan Chinese electric vehicle joint venture

MILAN — Italian American automaker Fiat Chrysler and Taiwan's Hon Hai plan to set up a joint venture to manufacture electric vehicles and to engage in the business of wirelessly connected vehicles, Hon Hai said on Thursday. Fiat Chrysler (FCA) and Hon Hai are negotiating to set up a 50-50 joint venture, Hon Hai said in a statement. It added Hon Hai would hold its 50% share both directly and indirectly and that its direct shareholding would not exceed 40%. Hon Hai is the parent of Foxconn, the Chinese assembler of Apple iPhones. FCA last month reached a binding agreement for a $50 billion tie-up with France's PSA that will create the world's No. 4 carmaker. The joint venture with Hon Hai will produce vehicles for the Chinese market, but many details of the accord are still to be worked out, one source close to the matter said, adding that a final deal was expected to be signed in the coming months. Foxconn has been investing heavily in a variety of future transportation ventures for several years, including Didi Chuxing, the Chinese ride services giant, and Chinese electric vehicle startups Byton and Xpeng. Foxconn also has invested in Chinese battery giant CATL and a variety of other mostly Chinese transportation tech start-ups. FCA will launch its first full-electric model - the 500 small car - this year. Reporting by Giulio Piovaccari in Milan, additional reporting by Paul Lienert in Detroit. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.