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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.

With Ram truck sales surging, FCA may continue production in Mexico

Featured Gallery 2019 Ram 1500 View 22 Photos Image Credit: Reuters Plants/Manufacturing RAM Truck Mike Manley warren michigan

A plea for Ram to build the Hellcat-powered Rebel TRX concept

The Rebel TRX Concept is a high-performance off-roader with a supercharged 6.2-liter Hemi V8 that's capable of traveling at speeds of up to 100 miles per hour on rough terrain. There's only one other road-legal machine that has the same off-roading capabilities as the concept – ahem, the Ford F-150 Raptor – and if there's ever been a vehicle that Ram needs to build, it's this one. The market is saturated with pickup trucks of various sizes. Ram itself offers options for consumers looking to tow massive cargo or go off-roading with the Power Wagon and Rebel. But there's also a clear market for the hardcore off-roader, and the Raptor has gone unchallenged for too long. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Ford proved that the market could handle a fast off-road truck with the 2010 SVT Raptor. Demand for the vehicle skyrocketed and after a few years, Ford had to up production from three to five trucks per hour at its Dearborn Truck Plant in 2013. The original V8 model immediately gained stardom for being a purpose-built machine capable of tackling rough terrain at high speeds. The latest 2017 Raptor is shaping up to be a brute in its own right. Gone is the 6.2-liter V8, which has been replaced with a modern twin-turbocharged 3.5-liter V6. Despite having a much smaller engine than its predecessor, the upcoming Raptor boasts better performance at 450 horsepower and 510 pound feet of torque – up from the V8's output of 411 horsepower and 434 pound feet of torque. With Fox lending a hand with some high-performance shocks and the pickup truck getting various off-roading modes, including one called "Baja," few road-legal machines will be able to match 2017 Raptor when asphalt runs out. Even still, the Rebel TRX concept looks and sounds like it's in a different league. The Rebel TRX concept's design is the perfect combination of speed and looks, which makes it hard to believe that Ram built the concept in just three months, according to an engineer. A higher-up within FCA sent in the demand, and the Ram team obliged with a fully functioning prototype. The Rebel, which Ram has always said is not a Raptor-fighter, can be fitted with the 5.7-liter Hemi V8, while the larger Power Wagon is equipped with the 6.4-liter V8. The supercharged 6.2-liter V8 (the Hellcat engine), as an engineer points out, makes sense in the concept.