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China's Geely says it has no plan to buy Fiat Chrysler — as FCA stock leaps

HONG KONG — Chinese carmaker Geely Automobile denied media speculation on Wednesday that it planned to make a takeover bid for Fiat Chryslerk Automobiles (FCA), the world's seventh-largest automaker. Geely was one of several Chinese carmakers cited in by Automotive News, which said representatives of "a well-known Chinese automaker" had made an offer this month for FCA, which has a market value of almost $20 billion. "We don't have such a plan at the moment," Geely executive director Gui Shengyue told reporters at an earnings briefing, when asked if Geely was interested in Fiat. He said a foreign acquisition would be complicated, but he did not elaborate. "But for other (Chinese) brands, it could be a fast track for their development," Gui added. However, a source close to the matter said FCA and Geely Automobile's parent firm, Zhejiang Geely Holding Group, had held initial talks late last year, without disclosing their nature. The source confirmed Geely was no longer interested in FCA, noting that the parent company had only three months ago announced its first push into Southeast Asia with the purchase of 49.9 percent of struggling Malaysian carmaker Proton, a deal that also included a stake in Lotus. Geel's denial failed to dent FCA's stock. The price of its Milan-based shares has jumped more than 10 percent to a 19-year high since Automotive News first reported on Monday, citing unnamed sources, that FCA had rejected the Chinese offer as too low. FCA stock on the New York Stock Exchange rose sharply on Monday from $11.60 to $12.38 and on Wednesday was trading at $12.84. FCA declined to comment on Wednesday. FCA Chief Executive Sergio Marchionne has repeatedly called for mergers as a way of sharing the costs of making cleaner, more advanced cars, but he has repeatedly failed to find a partner and retreated from his search for in April, saying FCA would stick to its business plan. He has also spoken of spinning the successful Jeep and Ram divisions off from FCA. Europe's largest carmaker, Volkswagen, and General Motors have both said they are not interested in talks with FCA. On Wednesday, Geely Automobile reported a doubling of first-half profit, above expectations, as cars designed with Sweden's Volvo won over domestic consumers. Volvo is a unit of the Zhejiang Geely group, and has recently announced it will share its technology with Geely.

Ram confirms Fiat Ducato vans to form new Promaster series for US

Chrysler has officially confirmed that Ram will develop an all-new large van for the US market based on the Fiat Ducato. The commercial rig will go on sale in the third quarter of next year, joining the Ram C/V on the company's professional van line. Expect to see the Promaster face off against the Ford Transit and revised Chevrolet Express.
Chrysler is pretty skimpy on details when it comes to the Promaster, but it has said the vehicle will make use of "familiar Ram Truck styling cues." The van will reportedly also bow with powertrains targeted specifically at the North American market.
Chrysler and Ram made the announcement ahead of the LA Auto Show alongside news that the company will launch a new Ram commercial truck division.

2021 Ram 1500 TRX vs. 2020 Ford F-150 Raptor | How they compare on paper

Now that the 2021 Ram 1500 TRX has debuted, it’s time to pit the off-road truck against its only true competitor: the Ford F-150 Raptor. Ford has left us in a weird spot with the Raptor, though. ItÂ’s currently in-between models, as the regular 2021 F-150 is out, but the 2021 Raptor hasnÂ’t been announced yet. Since the F-150 is moving into a totally new generation for 2021, the Raptor is bound to be much different a year (or even months) from now than it is today. Regardless, the Raptor as it stands today is still a worthy adversary for RamÂ’s new super truck. The TRX is much more expensive than the Raptor at its base level, but you can spec out a Raptor that comes close to the TRXÂ’s base price. That said, a TRX can crest $90,000. Neither of these trucks are cheap. So, letÂ’s get to the all-important specs and figures. The chart is below. WeÂ’ll note that Ford offers the Raptor in SuperCab and SuperCrew forms, but the TRX is only offered in Crew Cab size. For comparisonÂ’s sake, weÂ’ve chosen to provide figures for the SuperCrew that closely aligns with the Ram Crew Cab.   Powertrain ItÂ’s fairly obvious who has the advantage here. FCA just keeps spreading the Hellcat love around, and Ram is the latest brand to get a taste. The TRX has a whopping 252 horsepower and 140 pound-foot advantage over the Raptor. ItÂ’s also far quicker to 60 mph than the Ford. Nothing in the truck realm can touch the TRX in a straight line. Plus, the supercharged V8 produces much better noises than the F-150 Raptor and its boosted V6 is capable of.  Fuel economy for the TRX isnÂ’t out yet, but expect it to be even more horrendous than the RaptorÂ’s. If efficiency is even remotely important to you, neither of these trucks should be on your shortlist.  Both these trucks come with four-wheel-drive standard, and they both have a number of drive modes that alter the powertrainÂ’s characteristics depending on the terrain. Baja mode transforms the trucks into the desert runners that they both are at heart, but theyÂ’re plenty capable of crawling around rocks, too. We wonÂ’t know for certain which is best at specific tasks until we can get them both on (or off) equal ground. Suspension / off-roading capability The specs are freakishly similar when we compare ground clearance, approach/departure angles and water fording, but these two trucks use different strategies to get there.