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Stellantis tells UK: Change Brexit deal or watch car plants close

LONDON - British car plants will close with the loss of thousands of jobs unless the Brexit deal is swiftly renegotiated, Stellantis has told the UK parliament, the latest in a series of warnings from the industry since the country left the European Union. The world's No. 3 carmaker by sales and owner of 14 brands including Vauxhall, Peugeot, Citroen and Fiat said that under the current deal it would face tariffs when exporting electric vans to Europe from next year, when tougher post-Brexit rules come into force. "If the cost of EV (electric vehicle) manufacturing in the UK becomes uncompetitive and unsustainable, operations will close," Stellantis said in a submission to a House of Commons committee examining the prospects for Britain's EV industry. Stellantis urged the government to reach an agreement with the European Union about extending the current rules on the sourcing of parts until 2027 instead of the planned 2024 change. In response, a government spokesperson said the business secretary had raised the issue with the EU. "Watch this space, because we are very focused on making sure that the UK gets EV and manufacturing capacity," Britain's finance minister Jeremy Hunt said on Wednesday at a British Chambers of Commerce event. The potentially existential problem facing Britain's car industry is closely tied to the shift to EVs. Under the trade deal agreed when Britain left the bloc, 45% of the value of an EV being sold in the European Union must come from Britain or the EU from 2024 to avoid tariffs. The problem is that a battery pack can account for up to half a new EV's cost. Batteries are also heavy and expensive to move long distances. Experts have been warning since Britain left the EU at the end of 2020 that the country would need a number of EV battery gigafactories or potentially lose a hefty chunk of its car industry. Only Japan's Nissan has a small EV battery plant in Sunderland, with a second one on the way. Cost of failure Britishvolt, a startup which received UK government support for an ambitious 3.8 billion pound ($4.80 billion) battery plant at a site in northern England, filed for administration in January after struggling to raise funds. The company was then bought by Australia's Recharge Industries, which has yet to unveil plans for the site.

FCA and Peugeot reportedly agree on merger

Citing a Wall Street Journal report, the Detroit Free Press says "Fiat Chrysler and PSA Groupe have agreed to merge." The Journal reported on talks between the two car companies only yesterday. It's said that Peugeot's board met yesterday to approve the deal, FCA's board met today, and an announcement could come as soon as tomorrow, Thursday. Both automakers have released statements, but neither company has released any information beyond admitting to ongoing talks. If the merger happens, the combined entity would become the world's fourth-largest carmaker with a $50 billion valuation, slotting in behind Toyota, the Volkswagen Group, and the Renault Nissan Mitsubishi alliance. Among the merger options possible, "an all-stock merger of equals" is the one analysts and Moody's seem to give the best grade. The reported merger would come about four months after FCA walked away from merger talks with Renault. FCA said the French government scuppered those talks over the role of Nissan in a reformed entity, but there were also brewing issues with French unions, and ongoing turmoil among Renault and Nissan leadership thanks to continuing fallout from ex-CEO Carlos Ghosn's arrest last year. FCA makes most of its revenue in the U.S. and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany. The two companies already have a partnership in Europe making vans, one that FCA CEO Mike Manley has spoken highly of. Among the list of obvious benefits in a potential merger, FCA would get access to Peugeot's small, modern platforms, $10.2 billion in cash, and electrified and hybrid architecture developments, the latter especially important to FCA as those are fields where it lags. Peugeot would get much easier access to the U.S. market, and the money-printing brands Jeep and Ram. A merged carmaker would have combined sales of nearly 9 million a year, based on 2018 results. By comparison, both Volkswagen and Toyota sell over 10 million cars a year, while the Renault-Nissan-Mitsubishi alliance almost 11 million. Peugeot CEO Carlos Tavares has proved he knows how to do turnarounds and mergers. After leaving a position as Carlos Ghosn's right-hand man in 2012, Tavares took over Peugeot in 2014, navigated a bailout from the French government and China's Dongfeng Motors in 2015, and turned PSA into a regional powerhouse.

2017 Chrysler Pacifica Hybrid: The 80-MPGe minivan [w/video]

As automakers rush to add hybrids and plug-ins to every type of vehicle, one popular segment has been overlooked: minivans. If the idea of a hybrid minivan makes sense to you, that's because it's a smart idea, and one that we're surprised hasn't happened yet. So kudos to Chrysler for not just making it happen, but for creating a plug-in version with an estimated 80 miles per gallon equivalent. You can read all the practical details of the 2017 Pacifica (not Town & Country) here. For the sake of this story, we'll focus on what's different with the hybrid model. Yes, Chrysler is just calling it Pacifica Hybrid, not Plug-In Hybrid, because the company's executives think that when people hear "plug" they think "range anxiety" and freak out. That's not a worry here, though, because when the 16-kWh battery runs out of juice, the 3.6-liter Pentastar V6 kicks in and the minivan functions as normal. Just don't run out of gas. With a full charge, the Pacifica Hybrid can travel up to 30 miles on electric power. And though the gas engine is the same 3.6-liter V6 found in the non-hybrid model, it's detuned to 248 horsepower and 230 pound-feet of torque. Charging the battery takes just two hours on a 240-volt plug, and Chrysler houses the battery pack underneath the floor in the middle of the van, where the wells for Stow 'N Go seating are found on gas-only models. So no, you can't get Stow 'N Go seats on the hybrid, but the third row does still fold into the floor. Powertrain aside, the Pacifica Hybrid is nearly identical to its gas-only sibling, save the addition of the charge port on the driver's side front fender. Unique wheels in 17- and 18-inch sizes can be had, and the Pacifica Hybrid only comes in Touring and Limited Platinum trims. You can read more details on the hybrid system in the release below. First hybrid powertrain in minivan segment "Due to its large footprint and multiple daily trip patterns, the minivan is ideally suited for electrification technology," said Bob Lee, Vice President and Head of Engine, Powertrain and Electrified Propulsion Systems Engineering, FCA – North America. "The all-new 2017 Chrysler Pacifica lives up to this promise and then some, with efficiency, power and refinement." Launching in second half of 2016, the Pacifica Hybrid is the industry's first electrified minivan.