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Fiat Chrysler CEO says final merger talks with Peugeot going well

BRUSSELS — Fiat Chrysler's chief executive Michael Manley said on Wednesday that merger talks with Peugeot owner PSA  to create the world's No. 4 carmaker are progressing well and he hopes to have a deal within 12-14 months. Speaking to Reuters on the sidelines of an industry meeting, he said he doesn't expect any major obstacles that could delay a final agreement. "Talks are progressing really well," Manley said about negotiations with the French carmaker ahead of a briefing by the European automotive association (ACEA), of which he is president. His comments come a month after the two carmakers agreed to a binding deal worth about $50 billion to combine forces in response to a slowdown in global demand and mounting costs of making cleaner vehicles amid tighter emissions regulations. Manley's timeline for completing the deal by early 2021 is in line with a forecast made by the companies in December. Fiat and Peugeot are now getting into the details of how the merger will work, including choosing which vehicle platforms — the technological underpinnings of a vehicle — will fit which products in a combined company. Because customers in different locations still prefer vastly different cars, there is room for multiple platforms in a combined group, Manley said. "That global platform is an elusive beast," he added. "This concept of a massive global platform in my mind is almost a myth, but that doesnÂ’t mean to say weÂ’re not going to recruit significant volume." Related Video:    

Fiat Chrysler CEO Marchionne's health crisis forced succession scramble

Former Fiat Chrysler Chief Executive Sergio Marchionne for more than a year assured investors that he and the automaker's board were working on an orderly succession plan ahead of his expected departure in 2019. But a health crisis that left 66-year-old Marchionne incapacitated in a Swiss hospital set off a transition last week that was sudden and rushed, banking and industry sources said. The company announced on Wednesday that Marchionne had died, succumbing to complications from surgery. It emerged that Marchionne's successor was far from settled. Indeed before last week's crisis, many company executives remained in the dark, four banking sources who spoke to Fiat Chrysler executives told Reuters. The scramble to replace Marchionne led to the resignation of a senior executive who was passed over for the top job, the sources said, and exposed fissures between the Italian and North American sides of the world's seventh-largest automaker. Fiat Chrysler Chairman John Elkann named Michael Manley, head of the company's Jeep and Ram truck divisions, to replace Marchionne at an emergency meeting in Turin, Italy on Saturday. In doing so, Elkann followed Marchionne's wishes to appoint Manley his successor, two sources said. The company has portrayed Manley's appointment as the product of lengthy deliberation. "Sergio and John have always been totally aligned on the choice of Mike Manley," Fiat Chrysler's main spokesman Mike Keegan said on Tuesday, when asked whether there were differences over the succession. Elkann's office declined to comment. Manley could not immediately be reached for comment. This description diverges from what Marchionne himself told investors on June 1 during a day-long strategy presentation in Balocco, Italy. Marchionne said that he and Elkann "from time to time have these chats" about succession, but the issue would not be decided until next year. "It's a 2019 issue," Marchionne said. "So it's not going to happen until we close '18. It just won't happen." He went on to say that the company's board would not engage in a "rubber stamp process." Some analysts have also expressed skepticism that a final decision had been made. "My view is Marchionne and Elkann were still arguing about succession and had different views on the right candidate," Sanford Bernstein analyst Max Warburton said in a note on Monday, referring to the June 1 presentation.

Chrysler shows off new 'Synthesis' cockpit demonstrator at CES

As auto enthusiasts, we get used to seeing vehicle exteriors teased endlessly while interiors often remain under wraps until the very last second. And then once a year, CES happens and our focus shifts briefly to glimpses of arguably the single most important part of a car for most drivers: the many touch points between man and machine. Chrysler will be among those offering in-person demonstrations of its vision for future tech, and in this case, a little bit more.  Chrysler says it will be the standard-bearer for the company's forthcoming AI-based technologies that can both adapt to driver preferences and automate certain functions — up to and including driving. Chrysler is calling it "Advanced Technology For Real Life" and says it will "create smooth, efficient and connected experiences between the customer and the vehicle." This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Chrysler Synthesis Cockpit Demonstrator at CES 2023 The demonstrator itself shows off the next generation of interior materials ("vegetable-tanned, suspended seats wrapped with an arctic upcycled chrome-free soft trim embellished by a unique constellation-style perforation") and design themes. Chrysler calls it "Harmony in Motion," but rest assured that it will remain stationary for all of its demonstrations. Its simulation is meant to represent a day in the life of a typical owner. It optimizes the day's drive routes, coordinates with other smart ecosystems (home, phone, etc.) and even takes the wheel to allow for multi-tasking (simulating level 3 self-driving).  Check it out at Chrysler's booth starting tomorrow, Jan. 5.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Chrysler Unveils Airflow Concept