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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

Fiat Chrysler and Peugeot boards meet to finalize merger

MILAN/PARIS — The boards of Fiat Chrysler Automobiles and Peugeot will meet separately on Tuesday to discuss finalizing an initial agreement for a $50 billion merger to create the world's number four carmaker, sources said. A source close to FCA said the two companies could announce the signing of a binding memorandum early on Wednesday, followed by a conference call to explain further details later in the day. The two mid-sized carmakers announced plans six weeks ago for a tie-up to help them deal with big challenges in the industry, including a global demand downturn and the need to develop costly cleaner cars to meet looming anti-pollution rules. Ahead of the meetings, entities representing the Peugeot family, Etablissements Peugeot Freres (EPF) and FFP, unanimously approved a proposed memorandum of understanding for the planned merger, a source familiar with the situation said. FCA and PSA have said they would seek to finalize a deal by year-end to create a group with 8.7 million in annual vehicle sales. That would put it fourth globally behind Volkswagen, Toyota and the Renault-Nissan alliance. PSA's Carlos Tavares will be chief executive and FCA's John Elkann — the scion of Italy's Agnelli family, which controls FCA through their holding company Exor — chairman of the combined company. The group will include the Fiat, Jeep, Dodge, Ram, Chrysler, Alfa Romeo, Maserati, Peugeot, DS, Opel and Vauxhall brands, allowing it to serve mass and premium passenger car markets as well as those for trucks and light commercial vehicles. Related Video:       Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

Dodge brings Charger Widebody 'concept' to Spring Fest

Last week we asked if an Instagram user had really seen a Dodge Charger Widebody cruising suburban Detroit. The answer is yes, he had. Dodge brought its Charger Widebody concept to Spring Fest 14, a celebration of everything built on Chrysler's LX platform. Note the use of the word "concept," and a Fiat Chrysler spokesperson telling journos, "We are taking a Charger design concept to Spring Fest to gauge feedback from the huge Dodge Charger, Challenger, and Chrysler 300 enthusiast base that attends the California event each year." Mark Trostle, head of design for Dodge and SRT, shared a few snaps of the Charger Widebody to Instagram. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Now ignore the word "concept." Of course a thing isn't done until it's done, but two years ago a thread on Charger Forums mused on a Photoshop of the sedan as a widebody. User ResumeSpeed chimed in to say, "Rear is not accurate as it's being revised. 2020 model year. Two Charger WB models: Hellcat and 392 Scat Pack." Fast forward to February of this year when Mopar Insider said its sources confirmed a thick-hipped Charger R/T Scat Pack and Hellcat with "drastically different looking front and rear fascias." Then, earlier this month, Allpar received a slide from what looks like an internal Dodge presentation explaining the "2020 Dodge Charger Hellcat Wide Body." The sedan in the slide looks almost exactly like the "concept." And now this. They even designed it with the Dodge Durango SRT grille treatment, which seems like a logical part of that 2020 revision. Giving the Charger a nip and tuck, a little more tire, and a $6,000 surcharge similar to the Challenger Widebody makes too much sense to merely toy with and then file away. Check out this video for a complete walkaround, and stay tuned.