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Fiat Chrysler and Peugeot boards meet to finalize merger

MILAN/PARIS — The boards of Fiat Chrysler Automobiles and Peugeot will meet separately on Tuesday to discuss finalizing an initial agreement for a $50 billion merger to create the world's number four carmaker, sources said. A source close to FCA said the two companies could announce the signing of a binding memorandum early on Wednesday, followed by a conference call to explain further details later in the day. The two mid-sized carmakers announced plans six weeks ago for a tie-up to help them deal with big challenges in the industry, including a global demand downturn and the need to develop costly cleaner cars to meet looming anti-pollution rules. Ahead of the meetings, entities representing the Peugeot family, Etablissements Peugeot Freres (EPF) and FFP, unanimously approved a proposed memorandum of understanding for the planned merger, a source familiar with the situation said. FCA and PSA have said they would seek to finalize a deal by year-end to create a group with 8.7 million in annual vehicle sales. That would put it fourth globally behind Volkswagen, Toyota and the Renault-Nissan alliance. PSA's Carlos Tavares will be chief executive and FCA's John Elkann — the scion of Italy's Agnelli family, which controls FCA through their holding company Exor — chairman of the combined company. The group will include the Fiat, Jeep, Dodge, Ram, Chrysler, Alfa Romeo, Maserati, Peugeot, DS, Opel and Vauxhall brands, allowing it to serve mass and premium passenger car markets as well as those for trucks and light commercial vehicles. Related Video:       Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

Ford F-150 could be affected by tornado-damaged supplier in S.C.

The disruption caused by a tornado that severely damaged a South Carolina auto-parts plant and killed a contract security guard last week could be felt by more automakers than just Ford and affect more than just its best-selling F-Series pickup, which is due for an update. And there’s still no estimate for when operations might resume at the plant. The Detroit Free Press reports that the BorgWarner plant in Seneca, near Greenville, makes transfer cases for F-150 and Super Duty pickups, the Ford Explorer and Expedition, Transit cargo vans, and Lincoln Navigator and Aviator SUVs. ItÂ’s also a supplier for the Ram 1500 and Toyota Tundra trucks. Transfer cases shift power from the transmission to the front and rear axles in four-wheel-drive vehicles. BorgWarner says it still has no update for when it might partially or fully resume operations. The tornado that ripped through the area in the western part of the state on April 13 tore the roof, walls and signage off the factory and killed a 77-year-old contract worker when the security building he was sheltering in collapsed. Only four or five others were inside the plant, which has been idled because of the coronavirus outbreak, when the tornado struck. In an SEC filing on Friday, Ford said it has sent employees to the site to help BorgWarner and assess the damage to FordÂ’s tooling. “Initial assessments indicate that the Ford tooling was not materially damaged in this incident,” Ford said in the filing. “We do not have sufficient information to estimate when the facility will be back on-line or whether or the extent to which this incident will impact our plans to resume production of four-wheel drive and all-wheel drive vehicles.” A Fiat Chrysler spokeswoman also told the Freep the company was working with BorgWarner on recovery plans. A Toyota spokesman told Autoblog that "we are collaborating with BorgWarner to help restore production for transfer cases for Tundra assembly. We are confident that theyÂ’ll fully recover over time." Like other automakers, Ford shut down production at its U.S. plants last month as a precaution against the coronavirus pandemic. But Ford hasnÂ’t yet said when it plans to reopen its factories. FCA is targeting May 4 to resume production. Models like the F-150 and Lincoln Navigator are major sources of profit for Ford, which estimated it lost $2 billion in the first quarter.

Ram introduces Harvest Edition for chassis cab trucks

Trucks are workhorses first and foremost, and Ram is adding a Harvest Edition to its Chassis Cabs trucks to drive that point home. That means the Chassis Cabs are available in Case IH Red and New Holland Blue to match the other farm machinery in your shed. The Harvest Edition trucks are Ram 3500, 4500 and 5500 Chassis Cab models, available in all four-door Crew Cab and two-door Regular Cab configurations. The trucks can also be 4x4s with the 6.4-liter Hemi or 6.7-liter Cummins diesel. It's not the first outing for this specific limited edition, as a year ago Ram offered Harvest Edition 1500, 2500 and 3500 models. This year, it's the chassis cab trucks' turn to go red or blue. The nod to Case IH and New Holland makes sense because both companies are owned by CNH Industrial, which in turn is related to FCA. Ram North America head James Morrison says that the color choices were originally a direct request from farmers. And for those with no feelings toward either Case IH or New Holland — or those whose blood runs John Deere Green — there's the choice of black or white exterior paint. But the trucks aren't as basic as a tractor can be: There's an exterior chrome package for the grille, side steps, door handles and mirrors, and depending on the model, the polished aluminum wheels are either 18-inch or 19.5-inch. Inside, there's connectivity tech from 4G WiFi to Apple CarPlay and Android Auto. For hardware functionality, there are large front tow hooks and a skid plate for the transfer case. The limited edition's pricing starts at $43,990 for the 3500 Chassis Cab, for $48,140 for the 4500 and $49,240 for the 5500. The 3500 Harvest Edition is available with either single and dual rear wheels, and the 4500 and 5500 are dualies, with 60-inch and 80-inch cab to axle lengths. The Harvest Edition goes on sale in the third quarter of 2018. Related Video: