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Fiat ups Chrysler stake by 3.3%, inches closer to full control

Fiat is one step closer to completing a merger with Chrysler after exercising an option to acquire an additional 3.3 percent of the Auburn Hills-based automaker today. Automotive News reports that Fiat now controls 68.49-percent of Chrysler, which is up almost 10 percent since we last heard news of this deal back in February when Fiat talking to various banks to raise more capital in order to complete the acquisition.
The article says that Fiat is still able to increase its stake in Chrysler up to 75 percent over the next 12 months, but it sounds like CEO Sergio Marchinonne would rather purchase the remaining shares from VEBA - the retiree benefits trust - sooner rather than later. Unfortunately, the two sides still seem far from an agreement on a fair price for the rest of Chrysler, as Fiat has them valued at $4.2 billion compared to the $10.3 billion estimate from the unions that currently own the remaining stake in Chrysler.

Chrysler recalling 31k SUVs and vans

Chrysler is issuing recalls covering roughly 31,700 vehicles worldwide due to two separate problems. In both cases the company believes that most of the affected vehicles are either still on, or in transit to, dealer lots.
One recall covers roughly 10,700 Dodge Durango, Jeep Cherokee, Grand Cherokee and Grand Cherokee SRT models from the 2014 model year built between January 16 and April 17, 2014. The SUVs need a software update for the cruise control. It's possible that when the cruise is on and the driver presses on the throttle, the acceleration could last a second after the pedal is released or two seconds for the SRT. Afterward, they return to the speed originally set by the driver.
Chrysler says it isn't aware of any accidents, injuries or even reported incidents of this happening in the real world. Also, in all cases, if the driver presses on the brake, the cruise shuts off. The automaker believes that there are about 6,100 affected SUVs in the US, 950 in Canada, 425 in Mexico and 3,200 outside of North America. The software upgrade will be ready shortly, the company says.

Stellantis previews 4 electric platforms: Here's how they'll be used

Stellantis EV Day is hitting hard and fast this morning, with big news coming from Dodge and Ram and Jeep and the rest. But to support those brand transformations, a core initiative within Stellantis will help it become a leader in electrification. To do that, the group is developing platforms and technologies with cross-shared components and systems. This starts with four flexible BEV platforms: STLA Small, STLA Medium, STLA Large and STLA Frame. As for targeted numbers, they’re lofty: By 2024, Stellantis aims for over 500 miles of range, 0-62 mph in 2 seconds and charging 200 miles of range in 10 minutes. The four platforms will offer battery capacities from 37 kWh to more than 200 kWh. More specifically, STLA Small will offer 37-82 kWh and up to 300 miles of range. STLA Medium will have 87-104 kWh and up to 440 miles. STLA Large will provide 101-118 kWh and up to 500 miles of range. The truck-focused STLA Frame will provide 159-200+ kWh and up to 500 miles of range (and will support an electric Ram 1500 pickup). Chrysler EV Front 34 View 8 Photos Stellantis has big plans for the STLA Large platform, and is currently developing eight vehicles for it in the next three to five years. Examples of possible vehicles shown include a midsize Ram truck and a Jeep off-roader that could fight against the likes of the Toyota 4Runner. Stellantis design boss Ralph Gilles could be seen in a presentation looking over a Chrysler electric crossover based on this platform. We also saw a Wagoneer badge teased momentarily. There was a rendered silhouette of a crossover that looked like it could compete with the Ford Mustang Mach-E. Gilles said the platform would allow Stellantis to “create a long-range luxury sedan, an all-conquering muscle car, a heart-of-the-market DUV, a heart-of-the-market SUV, a very capable Jeep off-roading white-space opportunity vehicle as well as a new mid-sized truck.” See for yourself in this video starting at the 90-minute mark. As for powertrains, Stellantis is developing three electric drive modules with a shared, scalable inverter, and other common components, as well as in-house software to control them. Those drive units will offer from 70 to 330 kW (94-402 horsepower). More specifically, one EDM will provide 70 kW, a second will provide 125-180 kW, while the most potent can produce 150-330 kW.