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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.

SpeedKore carbon-fiber 1970 Dodge Charger packs a 996-hp Demon engine

SpeedKore Performance does some pretty neat things with carbon fiber. SEMA is always the place to show off new and interesting builds, and SpeedKore has a few new offerings on display. We talked about the lightweight carbon fiber 2018 Dodge Demon late last week, but now that SEMA 2018 is in full swing, we've got a look at something even cooler, an all-carbon, Demon-powered 1970 Dodge Charger "Evolution." SpeedKore Performance is based in Wisconsin and has been churning out SEMA showstoppers for years. In addition to the Demon, take a look at this Shelby GT350R the shop modified a few years back. The Charger Evolution is named so because it further modifies the SpeedKore Charger "Tantrum" that was used in the " Fast and Furious" films. That car used a carbon composite body and was fitted with a 9.0-liter Mercury Racing twin-turbo engine making an absurd 1,650 horsepower. The Evolution might be down on power — only 996 horses thanks to a modified Demon crate engine — but the goal was to create something a little more usable than the Tantrum. Upgrades include a smaller supercharger pulley, larger fuel injectors, a custom cold-air intake, stainless steel headers and a custom exhaust with SLP mufflers. There's also a Dailey Engineering dry sump, upgraded oil cooler, and Saldana radiator. It's also lighter, thanks to even more carbon fiber. SpeedKore had a goal to get the '70 Charger to about 3,200 pounds. To get there, the Evolution employs carbon-fiber bodywork, an aluminum floor, a steel roll cage and a new 2x3-inch steel box frame. SpeedKore's autoclave is large enough to bake a one-piece roof, hood and quarter panels. The bare bodywork has been finished with a clear coat to help prevent fading. The Evolution uses billet aluminum for the door handles, fuel cap and grille, all finished in a bronze-nickel coating to pair with the HRE wheels. In addition to the floor, aluminum was used for the firewall, transmission tunnel and radiator shroud. To slow the Charger down, it uses Brembo brakes with six-piston calipers up front and four-piston calipers in the rear. The suspension uses Penske adjustable coilovers while Michelin Pilot Sport 2 tires wrap 19x10-inch front wheels and 20x12-inch rear wheels. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Here's your chance to own a first-year Dodge Viper with just 333 miles

The Dodge Viper is certainly one of the most outrageous cars to come out of the 1990s, with its cartoon styling, massive 8.0-liter V10 engine, and utter disregard for anything other than performance. The first-generation models are the purest example of the breed, with an assemble-it-yourself toupee roof, side curtains, calf-searing side pipes, no air-conditioning (until '94), no airbags, no ABS, and no traction control. This first-year 1992 Viper is coming to Barrett-Jackson's Scottsdale auction in January and has just 333 miles, making it a near-new example of Chrysler's wild child. Only a couple hundred first-year Vipers were built, making them among the rarest of the breed. All '92 models were red, the same color as the 1989 show car, the overwhelming reaction to which spurred Chrysler to put the car into production as a modern-day Cobra. With the Viper's departure in 2017, the car seems destined to forever remain the improbable offspring of a moment in time. That time has passed, but an ultra-low-miles example like this allows its lucky new owner to chance to experience firsthand what all the fuss was about.