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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.

Roadkill builds crazy-cheap 1968 Dodge Charger rat rod using an old motorhome

Certain requests for description simply cannot be fulfilled, like if someone asked you to describe Picasso's Guernica or Gilliam's Brazil. There is only one appropriate answer to such entreaties, and that is: "You just gotta see it." That's where we are with the latest episode of Roadkill, wherein Messr's Freiburger and Finnegan dig out a 1968 Dodge Charger that Freiburger acquired in exchange for a set of cylinder heads, and intend to stuff it with the big-block motor from a long-bed, three-quarter ton Dodge pickup.
Only the pickup is too nice to tear apart, and the Charger needs a whole lot more lovin' - and parts - than initially expected. Enter, stage right, the Class A Dodge Pace Arrow motorhome with a 440 big-block purchased for $1,000, and a retired Plymouth Fury from a previous episode.
What ensues over the course of the 40-minute installment is more cuttin', yankin', leakin', stallin', hammerin' and smokin' action than you've seen in a long time, and some techniques that would have made even Cooter wonder, "I'm not sure if we should do that." By the end, though, the payoff is good enough to make you think about perusing AutoTrader for a '68 Charger just to see if maybe...

Hackers arrested after stealing more than 30 Jeeps in Texas

This article has been updated with details on how the thefts were carried out, and with comments from FCA. It seems the news regarding vehicle hacking continues to get worse, especially when it comes to products from Fiat Chrysler Automobiles. Last year, a Jeep Cherokee in St. Louis, Missouri, was wirelessly hacked from Pittsburgh. Nissan had to shut down its Leaf app because of vulnerabilities. Now, a pair of hackers in Houston, Texas, stole more than 30 Jeeps over a six-month period. The two were arrested by police last Friday while attempting to steal another vehicle. ABC 13 in Houston reports that police had been following Michael Arcee and Jesse Zelay for several months but were unable to catch them in the act until now. The two were using a laptop to connect to and start a vehicle. The thieves were able to access Fiat Chrysler's own DealerCONNECT software. After entering the vehicle identification number, the hackers were able to reprogram the cars' security systems to accept a generic key, according to The Houston Chronicle. Additionally, Automotive News reports that FCA subsequently updated the terms of use for its DealerCONNECT program. These thefts were not related to the UConnect remote hacks from last year. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In April, this surveillance video showed the theft of a Jeep Wrangler Unlimited. It was this footage that first led the police to Arcee and Zelay. The police began to follow and record the pair. That investigation eventually led to Friday's arrest. Both are charged with unauthorized use of a motor vehicle. In addition, Arcee is charged with felon in possession of a weapon and possession with intent to deliver a controlled substance. According to ABC 13, Homeland Security is investigating more than 100 stolen FCA vehicles that they believe were hacked using this method. After their theft, the vehicles were brought across the border to Mexico. FCA is currently conducting an internal investigation into the matter. After this article was posted, the company reached out to Autoblog, stating "FCA US takes the safety and security of its customers seriously and incorporates security features in its vehicles that help to reduce the risk of unauthorized and unlawful access to vehicle systems and wireless communications. FCA US has been cooperating with Houston Police Department since they first started the investigation.