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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Europe gets Jeep Wrangler Polar limited edition

Jeep will be bringing an all-new, limited-edition model to the European market called the Wrangler Polar. Based on the Wrangler Sahara and set to make its debut at the 2013 Frankfurt Motor Show, the Wrangler Polar sports new Hyrdro Blue paint, gloss black 18-inch wheels, a body-color hardtop, and the regular mix of Mopar styling accessories. Billet Silver Metallic and Bright White are available for those that don't dig the glossy blue, while a two-door variant will be available in addition to the four-door pictured above.
The Polar's interior features similar tweaks; Pearl White contrast stitching can be found on both the seats and steering wheel, while ceramic White bezels and other accents give a nice contrasting look to the cabin.
Underhood sits an engine that should make American Wrangler enthusiasts weep - a 2.8-liter, four-cylinder turbodiesel. With 200 horsepower and 339 pound-feet of torque channeled through a five-speed automatic transmission, the Wrangler Polar should handle itself just fine on normal roads. British buyers will also be able to select the 3.6-liter Pentastar V6. For rougher stuff, Dana axles can be found front and rear (Dana 30 up front and Dana 44 in back), while the Command-Trac four-wheel-drive system and its two-speed transfer case should be enough for when the roads disappear.

Watch thief steal Jeep Wrangler with laptop

Advancements in technology, especially those in the automotive sector, have made cars safer, easier to drive, and harder than ever to steal. But a recent incident in Houston, TX, reveals that the latest generation of hackers and thieves knows how to use modern tech for their own nefarious devices. A car thief was caught on camera using a small computer to pilfer a 2010 Jeep Wrangler parked in its owner's driveway. The video shows a man entering the Wrangler and after a few minutes on the laptop, driving away in the vehicle. According to the Wall Street Journal, Houston police believe the same method could have been used on four other occasions involving late-model Wranglers and Cherokees. While the short clip looks like something out of a movie, this isn't the first time a Jeep has been hacked. The theft took the pair of thieves roughly 13 minutes from the time the first person opens the hood (not shown) to when the car leaves the driveway. Alarmingly, the Houston police department isn't sure what the laptop is being used for, the Journal reports. A Fiat Chrysler official told the newspaper that the thieves in the Houston incident might be using tools that only dealers have access to, which would allow them to pair another key fob to the vehicle. While that explains how they got into the vehicle, it still doesn't explain how a laptop could be used to get the vehicle running – especially when automakers ( Fiat Chrysler, Tesla, and General Motors) have altered their cars' electronics to reduce hacking. Theft rates have dropped by 96 percent since 1990, according to The New York Times, but recent events show thieves are making their own advances, prompting increased cyber protection efforts from automakers, auto-parts suppliers, and the government. It will come into focus later this month when US Transportation secretary Anthony Foxx, Lyft CEO and co-founder Logan Green, and General Motors' chairman and CEO Mary Barra speak at a cybersecurity summit in Detroit. Related Video: News Source: The Wall Street Journal, The New York Times, Business Wire, YouTube Jeep Technology SUV Off-Road Vehicles Videos viral video hacking thieves