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4 ways FCA-PSA merger could be a plus

DETROIT — In a merger deal announced overnight, Fiat Chrysler stands to gain electric vehicle technology while PSA Peugeot Citroen could benefit from a badly needed dealership network to reach its goal of selling vehicles in the U.S. The merger would create the world's fourth-largest automaker with a combined market value of around $50 billion. Neither company would comment. Experts say the two automakers will be able to share car, SUV and commercial vehicle designs, helping each other fill weaknesses and share costs that will make them a strong global player. "We view the combination of these two companies as reasonable given global competition, high capital intensity, and industry disruption from electrified powertrain as well as autonomous technologies," Morningstar analyst Richard Hilgert wrote in a note to investors. Here are four areas that could be crucial to the two automakers' success: Technology For years, Fiat Chrysler has lagged its rivals in electric vehicle technology, with its former CEO once trying to discourage people from buying its only fully electric car in the United States, the Fiat 500E, because he lost money on each sale. The company has made progress on gas-electric hybrids and may have plans for more fully electric vehicles, but PSA has valuable technology that FCA can use, said Navigant Research analyst Sam Abuelsamid. Peugeot was relatively late to the electric vehicle game but is now working fast to catch up, notably with fellow French rival Renault. CEO Carlos Tavares has made a point of stressing the company's need to adapt to changing technology at car shows and earnings calls. Last year he announced plans to offer 40 electric models across its lineup by 2025. "Electrification hasn't been a huge part of their play up until now," Abuelsamid said. "Between the two of them, I think they could generate some scale for whatever they're doing, sharing component costs, development costs across electrical platforms," he said. More electric vehicles also would help FCA meet pollution and fuel economy regulations in Europe. As far as autonomous vehicles, neither company is among the leaders, Abuelsamid said. But that's a technology that's years into the future, giving them time to share the huge expenses and catch up together. FCA also has alliances with other companies such as Google spinoff Waymo that could bring autonomous vehicle technology to the market when ready, Abuelsamid said.

Former UAW official gets 15 months in labor corruption case

DETROIT (Reuters) - A federal judge in Detroit on Monday sentenced the former United Auto Workers union vice president in charge of relations with Fiat Chrysler to 15 months in federal prison for misusing funds intended for worker training to pay for luxury travel, golf, liquor and parties for himself and other union officials. Norwood Jewell, 61, who led the UAW's national contract negotiations with Fiat Chrysler in 2015, is the highest ranking UAW official to be sentenced in connection with a wide-ranging federal investigation of corruption within the union that represents U.S. factory workers at Fiat Chrysler Automobiles, General Motors and Ford. Jewell pleaded guilty in April to a single charge of violating the Labor Relations Management Act. At the time, prosecutors proposed a prison sentence of 12 to 18 months. U.S. District Judge Paul Borman rejected Jewell's request to avoid prison and serve his sentence under house arrest. "He betrayed his position," Borman said from the bench. Jewell is the eighth former UAW or Fiat Chrysler official sentenced as part of the federal criminal investigation of UAW finances. Federal prosecutors are continuing to investigate the misuse of company and union funds at the Detroit automakers. Fiat Chrysler Chief Executive Mike Manley, during a meeting with reporters last week, declined to discuss whether the company is in talks with federal authorities or whether he has been interviewed by investigators. Federal prosecutors have said Fiat Chrysler officials conspired in the misuse of $4.5 million in training center funds. Fiat Chrysler's former vice president of labor relations, Alphons Iacobelli, pleaded guilty in January 2018 to charges of violating the Labor Management Relations Act and filing false tax returns. Prosecutors charged Iacobelli with making hundreds of thousands of dollars in improper payments to charities controlled by UAW officials, and agreeing to pay off the mortgage of a now-deceased UAW vice president, General Holiefield. Prosecutors said Jewell accepted over $90,000 in illegal payments from Fiat Chrysler for his own benefit and to pay for travel, golf outings, parties and other entertainment for senior UAW leaders. "The parties included thousands of dollars in Fiat Chrysler money spent on 20 boxes of cigars, ultra-premium liquor, personalized bottles of wine, and women paid to light the cigars of senior UAW leaders," federal prosecutors said in a statement on Monday.

Honda and Chrysler EV news, and talking with GM's charging ecosystem boss | Autoblog Podcast #781

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. They're excited about the news of the possibility of an electric sports car being revealed for Honda's 75th anniversary, as well as the completely revamped — redesigned and renamed — Chrysler Airflow. They've been driving the Bentley Bentayga EWB, Range Rover, Toyota GR Corolla and the refreshed Buick Encore GX. We listen to a interview Greg conducted with GM's EV charging boss, Hoss Hassani. Finally, a reader is looking to help his in-laws choose an SUV, possibly a hybrid or EV, to replace a BMX X3. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast # 781 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News Honda electric sports car could be unveiled this year Chrysler Airflow being redesigned and renamed for production Cars we're driving 2023 Bentley Bentayga EWB Azure First Edition 2023 Land Rover Range Rover SE LWB 2023 Toyota GR Corolla Morizo 2024 Buick Encore GX Avenir Interview with Hoss Hassani, General Motors Vice President and EV Charging Ecosystem Spend my Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts Bentley Buick Chrysler GM Honda Land Rover Toyota Green Automakers Crossover Hatchback SUV Electric Future Vehicles Luxury Performance Sedan