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Chinese automaker Great Wall wants to buy Jeep

As Chinese automakers look to break into the U.S. market, we've been hearing about how companies in China are courting FCA. After GM and Volkswagen each shut the possibility of a merger, an unnamed Chinese company stepped up to the table. Its offer to buy FCA was refused, but the suitors are still knocking. Now, Automotive News reports that Chinese automaker Great Wall is interested in making a deal specifically to purchase the Jeep brand. Great Wall President Wang Fengying told Automotive News in an email that her company is "connecting with FCA" to start the negotiation process. FCA, though, told the publication that it hasn't been approached by Great Wall. Great Wall's offer, if accepted, would separate Jeep Í— FCA's most valuable brand Í— from the rest of the FCA portfolio. It's not unthinkable that FCA would consider selling Jeep on its own. FCA CEO Sergio Marchionne has said he'd consider spinning off Jeep and Ram. The company also said it could see making Maserati and Alfa Romeo into a separate company as well. Jeep, though, might be worth more on its own that the entirety of FCA with Jeep included, according to Morgan Stanley analyst Adam Jonas. This complicates the matter for any potential buyer that owns FCA franchise dealerships, and for FCA, for which Jeep is an attractor for selling the company as a whole. Great Wall, which only generates $14.7 billion in annual revenue (compared to FCA's $131 billion), is confident it could raise the funds to buy Jeep. As Automotive News points out, though, there could be a bidding war brewing if Jeep can be bought separately from the rest of the brands. Still, As Great Wall spokesman Xu Hui said, the company has been following Jeep, and sees it as a key to achieving its goal of becoming "the world's largest SUV maker." Great Wall already has research and development facilities in Detroit and Los Angeles. The Chinese company is also considering building a factory in the U.S. rather than in Mexico. Whether or not Great Wall acquires Jeep, it wants to sell SUVs in the U.S., and having a factory in the States means it wouldn't have to worry about Trump renegotiating NAFTA. Jeep is currently expanding its market presence, and has new vehicles, the Wagoneer and Grand Wagoneer, on the way in 2019. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Stellantis earnings rise along with EV sales

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.

Work at a Chrysler dealership, get free college education

The cost of a college education in the US can put a student tens (hundreds, in some cases) of thousands of dollars into debt. FCA US wants to give its dealership employees a leg up, though, and the automaker is now offering a completely free education to them through a partnership with Strayer University. The workers can take any of the college's classes online or on campus through program called Degrees@Work. Currently, the offer is only available to employees Chrysler, Jeep, Dodge, Ram and Fiat dealers in the automaker's Southeast region, which includes Florida, Georgia, South Carolina, North Carolina, Alabama and Tennessee. However, a national expansion will happen before the end of the year, Strayer spokesperson Cristina Henley tells Autoblog. The program will cover all of the students' expenses, including their books, according to Henley. FCA US sees this partnership as a way to improve the talent of its workforce, retain employees longer and possibly attract people wanting to take advantage of this free education. "Many of our dealers have expressed concern over the availability of talent to fill open positions due to business growth and turnover in their stores, especially in metro markets," Al Gardner, the company's Head of Dealer Network Development, said in the Degrees@Work announcement. Strayer has about 40 programs available, including in business administration, accounting, marketing, and more, and the university offers associate's, bachelor's, and master's degrees. It will also give FCA US employees credit for their work experience to get them a diploma even more quickly. FCA US Dealers to Offer Employees No-Cost, No-Debt College Education FCA US teams with Strayer University to develop first-of-its-kind dealer program Degrees@Work program open to all employees of participating dealerships Employees can earn no-cost, no-debt degree through Strayer University All Chrysler, Jeep®, Dodge, Ram and FIAT dealerships may participate First phase of program rollout begins with dealers in the FCA US Southeast Business Center National rollout expected later this year May 4, 2015 , Auburn Hills, Mich. - Employees of Chrysler, Jeep®, Dodge, Ram and FIAT dealerships will have the unique opportunity to earn a no-cost, no-debt college degree through Strayer University's Degrees@Work program, developed in collaboration with FCA US LLC. FCA US is the only company in the automotive industry to offer the program.