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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.

2018 Jeep Wrangler production ending to make way for Jeep pickup

After more than a decade in production, the outgoing JK generation Jeep Wrangler is set to end production on April 7. According to Automotive News, parts supplier Hyundai Mobis North America notified the State of Ohio that production was ending. The Toledo, Ohio, plant where the Jeep is built is already deep into production of the replacement JL generation Wrangler. The big news isn't that JK production is ending but that the plant is retooling in order to get Wrangler pickup production underway. Details on the Wrangler pickup are scarce. Jeep hasn't said anything, so most of what we know comes from various spy shots. Basically, expect a JL Wrangler Unlimited with a bed. That's a good thing. We were quite smitten with the Wrangler when we drove it late last year. It's better equipped and more refined than ever. The Toledo plant has a capacity of about 300,000 units a year. FCA CEO Sergio Marchionne expects about 100,000 Wrangler pickups to be sold each year. When the Wrangler pickup arrives, look for a naturally aspirated V6 under the hood. The turbo inline-four is likely, though smaller volumes could limit the truck's engine choices. The upcoming turbo diesel is a possibility, too. Other details include suspension that takes a cue from Ram. Look for a full reveal in the next few months. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Daily Driver: 2015 Jeep Wrangler Unlimited X Edition

Daily Driver videos are micro-reviews of vehicles in the Autoblog press fleet, reviewed by the staffers that drive them every day. Today's Daily Driver features the 2015 Jeep Wrangler Unlimited X Edition, reviewed by Adam Morath. You can watch the video above or read a transcript below. Watch more Autoblog videos at /videos. VIDEO TRANSCRIPT Hi, I'm Adam Morath for Autoblog. Now, undoubtedly, one of the coolest things about this job is that you're in and out of so many different vehicles, but, I'll be honest, there are times where, if you're in very similar vehicles, they can start to run together a little bit. That's why I love getting into a car like this that just snaps you right out of it because it's so unique and so different from anything else on the market. Of course I'm talking about the Jeep Wrangler. I'm in a 2015 Jeep Wrangler Unlimited. This is the X Edition, which stands for X Games. Jeep is a big title sponsor of the 2015 Aspen X Games and you can see that all over this vehicle. You have white, glossy accent plastic in the interior; mountain graphics throughout the interior and exterior of the vehicle – a nod, obviously, to the winter sports and skiing that you would do out in Aspen. And then in keeping with that mountainous theme, you have an Alpine nine-stereo speaker system. I'll be honest, though, that some of it feels a little overdone to me. For instance, there's a power-bulge in the hood. Credit to Jeep: the vents are actually functional, but this is not the trim I would go for, just personally. It's one of those vehicles that people are always wondering, "I really like the look of it [and] I like the capability, but could I live with a Wrangler?" It's the same sort of question you'll get from people who are looking at a sports car, "could I actually live with this is my daily driver?" And I have to say, Jeep has come a long way – Wrangler, in particular, has come a long way – in terms of driving comfort. Of course, don't expect "Lexus quiet." You can probably hear it's a big noisy in the cabin. It's a bit of a bumpy ride. There are things about this vehicle that I could see being annoying in your day-to-day life. For instance, the door: it's essentially an external hinge on the door, but it doesn't stay open for you. So, if you're on any sort of a tilt, the door will come back in and you have to just prop it open with your leg. Little things like that.