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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.

2019 Ram 1500 spy shots further hint at a trick tailgate for the Chicago Auto Show

It seems all but guaranteed that the 2019 Ram 1500 is going to get some kind of fancy tailgate for the 1500. The latest evidence comes from our spy shooters who just caught an extremely suspicious truck running around with the whole bed and tailgate area covered. Everything other than the bed is ours to see, so Ram is obviously trying to hide something out back. We reported this morning about some Twitter shenanigans between Ram and GMC during the Super Bowl last night. The back and forth between the two companies resulted in Ram hinting that we'll see something new at the Chicago Auto Show this Thursday. Here's the Tweet thread below: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In dissecting these spy shots, there isn't a whole lot to tear apart. We've got a normal Ram 1500 with a secret or two in the rear. As we zoom into the small patch of white we see through the camouflage, the normal outline of a recessed handle is somewhat visible. It's hard to determine exactly what is under there, because the recessed area is black and doesn't define itself next to the black camouflage. We can say there might be a grab handle in the normal spot you'd find one. There seem to be countless forms for this tailgate to take shape in. Spy photos of a Ram over a year ago with a strange 60/40 split caught our eyes that would probably have the option of opening in a barn-door style. Fiat-Chrysler has experience with split tailgates with its foreign-market Fiat Toro pickup, plus the company filed a patent on split tailgates a few years ago. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. A split design is most likely, but if we let the speculative parts of our brains run amok, we could even see a swing-out style tailgate similar to the Honda Ridgeline as possible. A major benefit to Ridgeline's swinging tailgate is easy access to the bed itself, as well as the in-bed trunk. None of the competition has such a useful area under the bed. But it would be hard to see Ram introducing its own trunk, especially when it offers the RamBox bedside storage system. Still, speculation can run wild on this one. The nice part about this mystery is that we won't have to wait long for the solution, since Ram has indicated it'll be solved at the Chicago Auto Show. We'll be on the ground there to try out whatever new-fangled tailgate Ram has to offer. Related video:

2019 Ram 1500 spotted with split tailgate

A little over three years ago, we discovered a patent from Fiat-Chrysler that showed a pickup truck tailgate that not only dropped down like a normal one, but was also split into two swing-out halves. It appears to be a reality now, since one of the Ram 1500 prototypes shown above has just such a tailgate. The tailgate above does look a bit different from the one shown in the patent drawings. For one thing, it's not a 50/50 split in the middle. Instead, Ram seems to have opted for something like a 60/40, or maybe 70/30 split. We're not sure exactly why this is, but there could be a few advantages. For one, It probably allows for the use of the same or nearly the same handle as on conventional Rams, as well as the same badging. For another, if the tailgate operates as described in the patent, it might be possible to open just one side without opening the other, and having the shorter piece could offer some flexibility in tight areas where a larger half couldn't open fully. Testing alongside the split tailgate truck were some other Ram 1500s that had their tailgates completely covered. They did reveal some other cargo management features that should show up on the production truck, such as a return of the RamBox bedside storage compartments. One of the trucks also revealed some ribbed bedsides that would allow the positioning of a cargo divider just about anywhere in the bed. We expect to see the new Ram 1500 to be fully revealed at the Detroit Auto Show in January. In the meantime, you can check out what we believe the production truck will look like, as well as everything we know about it, here. Related Video: