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Stellantis is official: FCA and PSA merger finally sealed

MILAN — Fiat Chrysler and PSA sealed their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. It took over a year for the Italian-American and French automakers to finalize the $52 billion deal, during which the global economy was upended by the COVID-19 pandemic. They first announced plans to merge in October 2019, to create a group with annual sales of around 8.1 million vehicles. "The merger between Peugeot S.A. and Fiat Chrysler Automobiles N.V. that will lead the path to the creation of Stellantis N.V. became effective today," the two automakers said in a statement. Shares in Stellantis, which will be headed by current PSA Chief Executive Carlos Tavares, will start trading in Milan and Paris on Monday, and in New York on Tuesday. Now analysts and investors are turning their focus to how Tavares plans to address the huge challenges facing the group – from excess production capacity to a woeful performance in China. Tavares will hold his first press conference as Stellantis CEO on Tuesday, after ringing NYSE's bell with Chairman John Elkann. FCA and PSA have said Stellantis can cut annual costs by over 5 billion euros ($6.1 billion) without plant closures, and investors will be keen for more details on how it will do this. Marco Santino, a partner at consultants Oliver Wyman, said he expected Tavares to disclose the outlines of his action plan soon, but without divulging too many details at first. "He has proven to be the kind of person who prefers action to words, so I don't think he will make loud statements or try to over-sell targets," he said. Like all global automakers, Stellantis needs to invest billions in the years ahead to transform its vehicle range for the electric era. But other pressing tasks loom, including reviving the group's lagging fortunes in China, rationalizing its huge global empire and addressing massive overcapacity. "It will be a step by step process, also to allow the market to better appreciate every single move. I don't think we will have all the details before one year," Santino said.

Ram 1500 Rebel TRX and Jeep Grand Wagoneer | Autoblog Podcast #642

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Zac Palmer. The big news this go-around is the reveal of the 2021 Ram Rebel TRX and Jeep previewing the 2022 Grand Wagoneer. They also discuss a mysterious BMW M8 mule and the F1-inspired Delage D12. Next, they talk about driving the Lincoln Navigator and Mercedes-AMG C 63 S Coupe before revisiting a recent "Spend My Money" segment with an update from the sender. Autoblog Podcast #642 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2021 Ram Rebel TRX debuts as a Hellcat-powered, desert-running Raptor killer Jeep previews 2022 Grand Wagoneer again What's hiding beneath this mystery BMW M8 mule? (Update) Historic French brand Delage returns with the D12 Cars We're Driving: 2020 Lincoln Navigator 2020 Mercedes-AMG C 63 S Coupe Spend My Money update Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

2019 Jeep Cherokee finally reveals its all-new nose

We've known for a while that the refreshed Jeep Cherokee was going under the knife in order to ditch its controversial face. While the crossover's looks have grown over time, it was still a little too weird and awkward for some buyers. Now, thanks to our trusty spy photographers, we have a really good look at the Cherokee's new mug. Surprise! It looks like every other product in Jeep's lineup. The current model has a split lighting setup that places the main headlights down low, almost below the grille. The turn signals/parking lights are way up high, nearly on top of the fender. This new model has those two meet in the middle. The shape is generally what you would find on both the new Compass and Jeep Grand Cherokee. It's handsome, even if it does lose a bit of character. The rear, too, has been changed. The license plate moves up and into the tailgate, giving it a more muscular, less flabby look. The smaller rear reflectors have been moved upward. The taillights look different, but it's hard to say if those are just temporary units. Either way, expect a new design that once again cribs from the 2017 Jeep Compass. Since this is a refresh, don't expect to wait too much longer until we see the new model's debut. We could see it as soon as the Detroit motor show next month. Expect current powertrains to carry over with a slight boost in fuel economy. Related Video: Featured Gallery 2019 Jeep Cherokee Trailhawk spy shots View 14 Photos Image Credit: Spied Bilde Spy Photos Jeep Crossover SUV Off-Road Vehicles