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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.

Nissan Altima plows under Ram pulling trailer in bizarre accident

If you've ever wondered whether it's possible to wedge a Nissan Altima underneath both a Ram pickup and a camper trailer it was towing, well, here's your confirmation. The improbable accident happened earlier this month in Virginia Beach, Va., on westbound Interstate 264. Virginia State Police tell WAVY-TV the 2011 Ram and its four occupants was pulling a travel trailer when the trailer's brakes locked up, stranding them in the second lane of traffic. That reportedly caused traffic to back up on the freeway, with troopers called to the scene for help. But the call was soon updated to a crash situation, and when police arrived on the scene, they found the white 2013 Altima wedged underneath the truck and trailer, right underneath the hitch. Police say the woman driving the Altima was trying to slow down and merge right to avoid the traffic logjam caused by the trailer when she instead rear-ended it and drove underneath it like a wedge. Which is pretty impressive when you think about it — especially since no one was hurt in the crash. The woman was reportedly using a hands-free device on a cellphone call at the time of the crash, WVEC-TV reports. No charges were filed, and she was reportedly able to free herself from the pinned Altima. Roof strength FTW! Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2019 Ram 1500 Classic Warlock adds Mojave Sand Package

Fiat Chrysler earlier this year brought back the old Warlock name from its Mopar division as a special edition for the Ram 1500 pickup truck. Now, the company is trotting out a new appearance package to go with the Classic Warlock. It’s called the Mojave Sand Package, and it adds a sport performance hood, 20-inch aluminum wheels painted black and the namesake exterior color. That pairs with the Warlock package, which is based on the Ram 1500 Classic and brings the R-A-M logo bluntly displayed on the heavy black grille, powder-coated bumpers front and rear, Warlock decals on the sides of the bed and a one-inch lift over the factory version. ItÂ’s available on the quad cab or crew cab models and comes with a choice of engines: either the 3.6-liter Pentastar V6, which makes 305 horsepower and 269 pound-feet of torque, or the 5.7-liter Hemi V8, which puts out 395 hp and 410 lb-ft. Warlock, of course, harkens to the custom version of the old Dodge pickup that was built from 1976 to 1979, having been introduced following positive public response to a truck originally designed as an auto show concept. It had chrome-plated running boards, oak sideboards and gold striping, wheels and upholstery. 2019 Ram 1500 Warlock View 14 Photos None of those features make it to the modern Warlock, unfortunately, but it does provide some value for truck lovers. The Mojave Sand Package adds to 10 color options on the Classic Warlock. All versions go on sale late in the third quarter starting at $37,040, including the $1,695 destination fee.