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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

2020 Dodge Challenger Drag Pak will debut at SEMA

Mopar fans have countless reasons to get hyped about the 2019 SEMA show. Speedkore is bringing a twin-turbocharged, all-wheel-drive Dodge Charger Hellcat Widebody, Mopar is bringing a done-up 1968 Dodge D200 "Lowliner," Ram is bringing a diesel 1500 overlander, and Jeep is bringing a custom off-road Wrangler. But the launch of the new 2020 Dodge Challenger Drag Pak might garner the most attention from the brand's most serious customers. Prior to the show, Mopar teased a photo and a short video clip, both showing a new Dodge Challenger from the overhead view. The white Challenger showed a wide blue stripe down the center of the car with two pinstripes along each side. "Powered by SRT" runs across the top of the windshield, and Mopar logos grace both sides of the car just beneath the side windows. Red decals run back from the rear quarter panels and connect across the rear of the car. It also has hood pins on the SRT Hellcat hood and a parachute attached the rear. There's a parachute because this is the factory turnkey drag-race-focused Dodge Challenger racecar. Mopar released no other information on what type of hardware the Drag Pak will be using, or what's under the hood, but the video gives a great preview of the exhaust note in full tire-smoke mode. As some Drag Paks in the past have dropped roughly 1,000 pounds from their production starter vehicles, the 2020 model will surely utilize plenty of weight-savings methods such as the removal of all interior comfort features that don't apply on the racetrack. Mopar has also previously altered the position of the engine and changed the wheelbase to the benefit of better weight distribution. Mopar is set to livestream the unveiling starting at 7:26 p.m. ET (that's 4:26 on the West Coast, which not coincidentally coincides the the displacement of the vintage 426 Hemi engine) on Nov. 5, 2019. Until then, check out the 2009, 2010, 2011, or 2016 Drag Paks.

Experience the New York Auto Show by drone

The Autoblog team recently returned from wildly running around the Javits Center to cover all the news and debuts at the New York Auto Show. Sometimes, it's nice to take a more serene look at the exhibition floor, though, and the event's organizers are providing that exact opportunity by flying a drone through the hall. Combined with the down-tempo music, this clip feels like a form of automotive meditation. If you're going to miss the show in the Big Apple, the drone also provides a good overview at the exhibition floor, especially at the stands from Lexus, Buick, Dodge, Mercedes-Benz, Toyota and BMW. Plus, it's a fun way to see some vehicles from a completely different angle than they ever appear on the road. Related Video: News Source: New York International Auto Show via YouTube Auto News New York Auto Show BMW Buick Dodge Honda Lexus Mercedes-Benz Toyota Videos drone 2015 ny auto show