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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.

Ram HD Pickup Lineup First Drive Review | The torque king cometh

LAS VEGAS — Ram is thriving. The truck brand is coming off its best sales year ever, and its all-new 2019 Ram 1500 has won just about every truck award there is to win, including North American Truck of the Year. Now Ram is launching the world's torquiest pickup truck ever, the new 2019 Ram Heavy Duty. The burliest version packs 1,000 pound-feet of twist, but there's a lot more to this truck than its obscene amount of low-end grunt. It's also the quietest, most comfortable, and most refined heavy-duty pickup Ram has ever made. Most power, payload and towing The 2019 Ram Heavy Duty isn't exactly all-new. It's more of a major refresh, the HD's first since 2014 and the second since this generation debuted in 2010. The truck is now infused with much of the styling, technology and much of the interior of its light-duty little brother, the Ram 1500. Only the HD's cab, doors and bedsides are essentially unchanged, along with its 6.4-liter Hemi V8, which is now standard on all 2500 and 3500 models. The unpopular 5.7-liter Hemi is no longer available. Ram continues to offer two versions of its Cummins inline six-cylinder diesel power on all models except the 2500 Power Wagon. The 6.7-liter Cummins Turbo Diesel, which costs an extra $9,100, and the High-Output version have both been reengineered for more power, more durability and significantly less noise. The Cummins still pumps out 370 horsepower at 2,800 rpm, but its torque output has jumped from 800 to 850 pound-feet at 1,700 rpm. The HO version, which is only available on the 3500, gets a 15 hp bump to 400 hp at 2,800 rpm, and its torque climbs from 930 to that magical 1,000 lb-ft at 1,800 rpm. Redline remains at just 3,250 rpm, and a column-shifted six-speed automatic still backs both engines. Hemi models, including the Power Wagon, have been upgraded to an 8HP75R eight-speed from ZF and a dash-mounted rotary shifter. The Hemi's power ratings are unchanged at 410 hp and 429 lb-ft of torque, but the V8 now has a more advanced cylinder deactivation system for improved fuel economy and smoother operation when only four of its cylinders are firing. The eight-speed's gearing also betters the Power Wagon's crawl index from 35:1 to 51:1 for improved low-speed off-roading. Most Ram HD buyers spring for the diesel. The most popular model is the 2500 4x4 Crew Cab Laramie with the Cummins, but trucks with the 6.4-liter and the new eight-speed feel considerably quicker on the road. Even the big boy 3500s.

Ram open to releasing electric pickup if buyers ask for one

Ram hasn't announced plans to launch an electric pickup yet, but it confirmed it's keeping a close eye on the burgeoning segment in case it needs to jump in. At least half a dozen electric pickups are scheduled to enter production during the first half of the 2020s, including models from Ram's rivals and from start-ups. "The reason we haven't spoken much about electric pickup trucks is not because we view that market as non-existent. We've always had a slightly different view of timing and adoption rates, particularly in North America in terms of full electrification. We are very committed to our electrification strategy — most of which we have revealed," Mike Manley, the head of Ram parent Fiat-Chrysler Automobiles (FCA), told The Detroit News. There is not a single electric truck available new in the United States in 2020, but the segment is expected to balloon in the coming years. Tesla and start-up Rivian both introduced close-to-production concepts that remain over a year away from entering production. Ford will make an electric derivative of the 14th-generation F-150, while General Motors will send both Chevrolet and GMC marching into the segment; the latter will resurrect the Hummer name. On paper, it looks like Ram is behind. In reality, it's still too early to tell if the demand is there. What remains to be seen is whether carmakers can turn social-media likes and eye-catching headlines into profitable sales, or if the electric pickup will become the proverbial brown, turbodiesel, and stick-shifted station wagon of the 2020s — a vehicle everyone loves the idea of but that no one wants to spend a dime on. Pickups have ruled America's sales chart for decades, but electric cars remain a small niche at best; they represented a 1.6% share of the market in 2019. Ram is essentially waiting to find out if installing one of America's least popular propulsion technologies in the nation's favorite body style by a long shot will resonate with buyers. "We haven't revealed everything. But, obviously pickup trucks are a key franchise for us, and we're not going to sit on the sidelines if there is a danger that our position gets diluted going forward," Manley stressed. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.