2016 Dodge Challenger Srt Hellcat on 2040-cars

Auto blog

Dongfeng and PSA extend Chinese joint venture

BEIJING/PARIS — China's Dongfeng and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles (FCA). Dongfeng said on Thursday it had agreed with PSA to extend the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). Under the deal, the venture could get the rights to PSA's new brands in China and will benefit from new technologies and intellectual properties, the Chinese company said. PSA was not immediately available for comment. The announcement comes a day after the companies said Dongfeng would reduce its 12.2% stake in PSA by selling 30.7 million shares to the French company. Analysts said the move could smooth U.S. regulatory approval for PSA's roughly $50 billion (GBP38.97 billion) merger with Italian-American carmaker FCA. The sale of Dongfeng's shares in PSA, worth around 680 million euros ($757 million), will leave the Chinese group holding around 4.5% of the merged PSA-FCA, which is set to become the world's fourth-biggest carmaker by sales volumes. "As the cooperation between Dongfeng and PSA deepens, we expect the joint venture to continue making good progress in China," a Dongfeng representative said. On a conference call, Dongfeng said DPCA would have exclusive rights to PSA's Opel cars should the partners agree to bring the brand to China, and enjoy lower prices on car parts imported from PSA. Earlier this year, a document seen by Reuters showed Dongfeng and PSA plan to cut jobs at Wuhan-based DPCA and reduce its number of car plants to try to make the venture more profitable. Chrysler Dodge Fiat Jeep RAM Citroen Peugeot China FCA PSA Dongfeng

2020 Dodge Charger Widebody Daytona wrecked with 296 miles on the clock

The Dodge Charger SRT Hellcat Widebody Daytona 50th Anniversary Edition can do 0-60 faster than you can say its name, and one new owner appears to have proven that it can all go wrong just as quickly. This one-of-501 sedan currently resting on a Copart lot in California has already met its end.  Dodge named the model after NASCAR's season-opening venue. The Daytona 500 gets the numerical part of its name from the length of the race — 500 miles. This poor White Knuckle example didn't even live long enough to put that much distance behind it; it shows just 296 miles on its odometer, says Motor1.com, who spotted the wreck on Copart.  This poor Widebody suffered a front-end accident severe enough to pop the airbags, which is never a good sign. Both front fenders took a beating, and the passenger-side panel was ripped off completely. The hood was badly buckled in several places, and the bumper covers appear pretty badly thrashed. It's difficult to tell from these photos whether the front crash structure was badly mangled, but we suspect it didn't come out unscathed. The passenger-side front suspension clearly took a beating, as the tire on that side was de-beaded from the wheel.  On the bright side, multiple images show that the car's electrical system is intact; whether it starts and runs is another matter.  The Daytona 50th Anniversary Edition package is, fundamentally at least, little more than a plaque, a sticker package, and a re-rated 717 peak horsepower. What you really get for your money is exclusivity, and thanks to this little "oops," there's more of that to be had. Only 501 were built (to commemorate the number of production units required to homologate the original Charger Daytona for NASCAR racing); just 451 went to U.S. dealers, and the other 50 were reserved for the Great White North where it's built. These models are so scarce that some dealers were already tacking on tens of thousands of dollars in additional markup. Back in December, at least one dealer had slapped a $25,000 market adjustment on a Daytona model (in the same "White Knuckle" finish as the wrecked car here), and others were being spotted with similar tacked-on premiums.  Related Video:    

Stellantis earnings rise along with EV sales

AMSTERDAM — Automaker Stellantis on Wednesday reported its earnings grew in 2022 from a year earlier and said its push into electric vehicles led to a jump in sales even as it faces growing competition from an industrywide shift to more climate-friendly offerings. Stellantis, formed in 2021 from the merger of Fiat Chrysler and FranceÂ’s PSA Peugeot, said net revenue of 179.6 billion euros ($191 billion) was up 18% from 2021, citing strong pricing and its mix of vehicles. It reported net profit of 16.8 billion euros, up 26% from 2021. Stellantis plans to convert all of its European sales and half of its U.S. sales to battery-electric vehicles by 2030. It said the strategy led to a 41% increase in battery EV sales in 2022, to 288,000 vehicles, compared with the year earlier. The company has “demonstrated the effectiveness of our electrification strategy in Europe,” CEO Carlos Tavares said in a statement. “We now have the technology, the products, the raw materials and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024.” The automaker is competing in an increasingly crowded field for a share of the electric vehicle market. Companies are scrambling to roll out environmentally friendly models as they look to hit goals of cutting climate-changing emissions, driven by government pressure. The transformation has gotten a boost from a U.S. law that is rolling out big subsidies for clean technology like EVs but has European governments calling out the harm that they say the funding poses to homegrown industry across the Atlantic. Stellantis' Jeep brand will start selling two fully electric SUVs in North America and another one in Europe over the next two years. It says its Ram brand will roll out an electric pickup truck this year, joining a rush of EV competitors looking to claim a piece of the full-size truck market. The company plans to bring 25 battery-electric models to the U.S. by 2030. As part of that push, it has said it would build two EV battery factories in North America. A $2.5 billion joint venture with Samsung will bring one of those facilities to Indiana, which is expected to employ up to 1,400 workers. The other factory will be in Windsor, Ontario, a collaboration with South KoreaÂ’s LG Energy Solution that aims to create about 2,500 jobs. The EV push comes amid a slowdown in U.S.