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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.

Continental Automotive recalls 5 million airbag control units

Takata isn't the only supplier having airbag problems. Rival manufacturer Continental Automotive Systems announced a recall of 5 million airbag control units fitted to vehicles from Honda, Fiat Chrysler Automotive, Mercedes-Benz, and even a certain Chrysler-based Volkswagen. This sweeping recall has actually been in progress for some time, although the exact scope is only now becoming evident. In October of 2015, Mercedes-Benz recalled 2008 and 2009 model year C- and GLK-Class vehicles because their Continental-made airbag control units could corrode. Such a condition could cause the airbags to deploy without cause or warning, or in the event of a crash, not deploy at all. You can read all about it in our post from last year. Now, Continental's recall is going wide. Alongside the already recalled C and GLK, you've already heard about the 2008 and 2009 Honda Accord airbag recall, which we reported on yesterday. Now, Fiat Chrysler is announcing the recall of the 2009 Dodge Journey, as well as the 2008 and 2009 Dodge Grand Caravan, Chrysler Town and Country, and their rebadged counterpart, the Volkswagen Routan. Yes, one manufacturer is recalling another manufacturer's vehicle. The models listed above only amount to about 580,000 vehicles out of 5 million bad airbag control units. And since Continental will notify manufacturers who will then issue their own recalls, it's extremely likely that more brands and vehicles will be ensnared. Stay tuned. Related Video: News Source: NHTSA via Automotive News - sub. req.Image Credit: Fabian Bimmer / Reuters Recalls Chrysler Dodge Fiat Honda Mercedes-Benz Safety Crossover Minivan/Van Sedan FCA

STLA Medium EV platform claims long range, up to 382 horsepower

We don’t get to see it paired with a car yet, but Stellantis just revealed a bunch of details about its upcoming STLA Medium electric vehicle platform. As a reminder, this is just one of four that will ultimately come out, including STLA Small, Medium, Large and Frame. The "Medium" is specifically designated for vehicles in the C and D segments, but Stellantis isnÂ’t explicitly saying which new models will sit on it. At the very least, Stellantis is providing a boatload of specs to chew on. Maximum range for vehicles on the STLA Medium platform is said to be 435 miles when paired with a "Performance" pack and tested on the WLTP cycle. The "Standard" pack brings that max range down to 310 miles. Of course, expect those numbers to nosedive when tested on the EPA cycle. All those miles come courtesy of a 98-kilowatt-hour battery pack, which is the highest-range Performance pack. Stellantis hasnÂ’t said what the standard pack capacity will be quite yet. As for charging, all STLA Medium vehicles will feature a 400-volt electric architecture that will be able to facilitate charging from 20-80% in 27 minutes. A maximum charge speed is not yet specified. Stellantis also claims an astoundingly efficient 4.43 miles per kWh, "depending on the application." Basically, donÂ’t expect all of the STLA Medium vehicles to touch that level of efficiency, but some might for WLTP testing. As for driving enjoyment, you can expect power output to range between 215-382 horsepower. STLA Medium cars will be available with either front-wheel drive or all-wheel drive and come in body styles including "passenger cars, crossovers and SUVs." The platform allows for some flexibility in size, so wheelbase can range from 106-114 inches. Overall length will vary from 169-193 inches, and ground clearance maxes out at 8.66 inches, for those curious about how Jeep models might fare on this platform. Stellantis says itÂ’s going to deliver "best-in-class battery packaging cost," explaining that despite various total energy options, the perimeter dimensions of the battery pack, common tray and cooling designs will remain constant.