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Samsung might buy Magneti Marelli, FCA's parts supplier

Automotive manufacturing is quickly changing as companies like Google and Apple move into the sector with new products and services. It should be no surprise that other tech companies are making moves to grab a piece of the pie. According to Bloomberg, Korean tech conglomerate Samsung is in talks to purchase major automotive parts supplier Magneti Marelli from Fiat Chrysler Automobiles. Bloomberg reports that the deal could be worth more than $3 billion. It seems that Samsung is interested in Magneti Marelli's lighting, in-car entertainment, and telematics businesses, but a full purchase of the company isn't off the table. The move would be Samsung's largest-ever purchase outside of South Korea. FCA has already started to branch out and partner with tech firms. The automaker is working with Google to build an autonomous version of the new Pacifica minivan. They hope to have the first batch on the road by the end of the year. Magneti Marelli currently supplies everything from lighting and instrument clusters for passenger vehicles to high-end electronic components for Formula One and MotoGP teams. The company, founded in Italy in 1919, employs around 38,000 workers. Although it's currently owned by FCA, in the past Magneti Marelli has worked with companies like Ford and Microsoft. The purchase could help further diversify Samsung and reduce its dependence on consumer electronics like phones and televisions. Samsung is the world's largest supplier of memory chips and TVs, but the company has taken a hit lately as sales of its smartphones have faltered. In order to keep up with rivals like Apple, the company will need to venture into new markets. Perhaps Samsung's phone expertise would translate to improved vehicle infotainment systems. FCA, on the other hand, is on an aggressive five-year plan aimed at doubling net income. CEO Sergio Marchionne is attempting to eliminate the company's debt, and selling off a major subsidiary could greatly help. A recent attempt at a merger with General Motors failed and further hurt the company's finances. FCA's stock price rose in response to the rumors of the Magneti Marelli sale. Both Samsung and FCA have declined to comment on the move. Related Video: News Source: Bloomberg Technology Rumormill Chrysler Fiat Technology FCA Samsung magnetti marelli

Mike Manley and Louis Camilleri appointments confirmed after shareholder votes

AMSTERDAM – Fiat Chrysler shareholders held a meeting yesterday to officially vote on the appointments of Mike Manley as CEO of FCA and Louis Camilleri as the CEO of Ferrari. Manley and Camilleri were announced as the replacements for Sergio Marchionne following the former chief's sudden death. At the same time, FCA announced that it would place John Elkann in the role of Chairman. A minute-long moment of silence was held at the start of the meeting in honor of Marchionne. According to reports, 99 percent of shareholder votes were in favor of Manley's appointment at FCA, and 98 percent were in favor of Camilleri taking the CEO role at Ferrari. Manley said at the shareholder's meeting that he will announce his organizational plans for the automaker by the end of September. "When we learned Sergio Marchionne could not return to work the board decided to appoint Mike Manley, who was the only candidate," Chairman John Elkann said. The chairman added the decision was based on succession plans the board was working on with Marchionne for his planned departure in 2019. Of Camilleri's direction at Ferrari, Elkann said, "Sergio Marchionne strengthened the foundations of Ferrari, now we can build on that for the future, which will be a bright future."Reuters contributed to this report.Related Video: Image Credit: Daniel Acker/Bloomberg via Getty Chrysler Fiat Sergio Marchionne FCA Mike Manley

2019 Fiat 500X First Drive Review | Anchor's away!

MALIBU, Calif. — We lived with the Fiat 500X for a year and were pleasantly surprised by everything it had to offer but — and this is a big but, a but worthy of Sir Mix-a-LotÂ’s affection — the entire powertrain.  ItÂ’s no small feat that the small crossover was able to charm us despite our distaste for the very thing that makes it move. For 2019Â’s mid-cycle facelift, Fiat has addressed that exact issue. Gone is the old, naturally aspirated 2.4-liter inline-four that Fiat called the Tigershark, but we called a boat anchor. It was noisy, unresponsive, and an insult to tiger sharks. We preferred the lower-spec 1.4-liter turbo to the higher-spec 2.4, and suggested that it should be offered on all trims. Now the sole engine on all trim levels is a turbocharged 1.3-liter with stop-start and Multiair III, FiatÂ’s third-generation cam-less variable intake valve system. Fiat also eliminated the front-wheel-drive option for 2019, making all 500Xs all-wheel drive. Though the motor is down three horsepower overall — 177 versus the TigersharkÂ’s 180 — it more than makes up for it in torque. The outgoing engine produced 175 lb-ft at a lofty 3,900 rpm, which wasnÂ’t really useful in real-world driving. The 2019 comes with 210 lb-ft at a mere 2,200 rpm, giving drivers significantly more grunt at the low end. Beyond that, Fiat says the engine is less thirsty than the 2.4-liter — the only engine available in 2018 all-wheel-drive models — returning 24 city and 30 highway mpg. ThatÂ’s 3 mpg better in the city and 1 on the highway, made possible with more efficient technologies like needle roller bearings around the exhaust cam, a variable displacement oil pump, and an integrated charge-air cooler and exhaust manifold. We'll note that the 2018 500X equipped with front-wheel drive, the 1.4-liter turbocharged engine and six-speed manual transmission is still the most efficient of them all, returning 25 city and 33 highway mpg. “The engine is about 80 pounds lighter than the 2.4,” chief engineer Adam Remesz told us, putting total curb weight for the AWD model with 17-inch alloys at 3,305 pounds. Improved efficiency also means reduced CO2 emissions, down from 264 grams per mile to 242. According to Remesz, thatÂ’s “about the amount expelled by an average adult male running a 10k race.” Sure. The new mill mostly addresses our biggest gripe with the 500X. The throttle feels peppier, and rolling acceleration is much improved.