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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.

2015 Jeep Renegade leaks out ahead of Geneva debut

Meet the Renegade - Jeep's new baby crossover that's set to debut at the Geneva Motor Show this week. The folks at Jalopnik got their hands on a small batch of photos of the new little cutie, showing what appears to be a Trailhawk (read: trail-rated) version, as well as a more civilian-spec Renegade, complete with a new removable roof system, reportedly called My Sky.
Details are slim, though in addition to the exterior images, one photo of the interior has also been leaked, showing what appears to be a small, yet functional (and nicely appointed) cabin. Early reports suggested that the new small Jeep would be based on the Fiat 500L platform, though Jalopnik rightly points out that the Renegade looks an awful lot like the Panda 4x4. Regardless, there's still likely some 500L bones under there, and we'll know more once the official details are revealed in the very near future.
Head over to Jalopnik for more shots of the cute little Renegade, and stay tuned for more information as it becomes available.

The Jeep Yuntu is a plug-in hybrid SUV just for China

The Shanghai Auto Show has been host to a heaping helping of hybrids this year, and we have yet one more to share with you. Jeep created this Yuntu SUV Concept, and it features a plug-in hybrid powertrain. Interestingly, Jeep has very little to say about it, and didn't even provide hypothetical performance figure, apparently because it's just a concept. About the only thing Jeep did tell us was that the Yuntu was designed with a focus on Chinese consumers' tastes, also citing that the SUV segment is the fastest growing in the country. While the design may have been targeted at Chinese buyers, we think the Yuntu would find fans in the US, too. It mixes cues from both the Compass and the Renegade. The roof treatment, with a thick, upright, body-colored D-pillar and black roof come right from the Renegade, as does the generally boxy aesthetic. From the Compass comes the slim seven-slot grille and horizontal headlights. The inside has no parallels to the current Jeep line. It's a light, airy place with plenty of pale woods. The dashboard is effectively all screens, and the few buttons and switches present have a unique copper finish. It's far more futuristic and modern than any Jeep on sale right now. As for what this Yuntu means for the Jeep brand, there are a few possibilities. It could simply be a styling exercise that indicates where Jeep is headed in the future. These future design cues could be applied either to China-specific versions of current vehicles, or they could also appear on vehicles in other markets such as the US. It's also entirely possible that this concept is a preview of a new SUV designed just for the Chinese market. Jeep could do this fairly easily and affordably by putting a toned-down version of the Yuntu's design on the Cherokee platform, which is already built by FCA's Chinese partner, GAC. This wouldn't be the first time a car company created an SUV just for the Chinese market, either. Mazda did it with the CX-4, so Jeep certainly could, too. Related Video: