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Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

VLF Force 1 V10 is a rebodied Viper priced like a Lamborghini

It would appear that Henrik Fisker is done with hybrids. His latest project, called the Force 1, packs an oversized V10 engine with no electric assist in sight and all the environmental credentials of a herd of flatulent cattle. Alongside the Karma-based, Corvette-powered Destino, the Force 1 is the second product from VLF Automotive. Fisker has taken partnership in the new firm as chief designer alongside chairman Bob Lutz and CEO Gilbert Villarreal. The company isn't saying explicitly what the Force 1 is based on, but it doesn't take a CSI team to trace its roots back to the Dodge Viper. Never mind that it's being built in Auburn Hills – the same Detroit suburb where Chrysler is headquartered – or that it was jointly developed by Fisker and professional Viper racer and dealer Ben Keating. It also happens to be powered by an 8.4-liter V10, and there aren't many of those kicking around the industry. Instead of the Viper's 645 horsepower and 600 pound-feet of torque, the Force 1's ten-cylinder engine is optimized to deliver 745 hp and 638 lb-ft. That, according to VLF, is enough to send the coupe rocketing to 60 in 3.0 seconds flat, covering the quarter-mile in under 11 seconds on its way to a top speed of 218 miles per hour. The power is transmitted to the Pirelli PZero rubber through a six-speed manual, but VLF says it will fit it with an automatic at the customer's request. Around that massive engine and two-seat cockpit, Fisker designed a new shape that, for better or for worse, looks way more aggressive than the Viper's. The Force 1's proportions are tellingly super-snake, but the curves are replaced by some very angry-looking angles and vents. Its head- and taillights are ultra thin, and the deep-dish, split-four-spoke wheels seem to visually split the difference between the three-spoke wheels on the original Viper and the five-spoke alloys it wears today. If you doubted the Force 1's origins before, the interior ought to give it away, with its wide tunnel and familiar surfaces. Only VLF has refinished it in leather, suede, and Alcantara, all diamond stitched with contrasting thread to help position this as a more luxurious prospect than the Dodge. It even fit between the seatbacks place for two champagne bottles that we hope nobody would consider consuming before trying to handle that much power. Of course, none of this will come cheap.

FCA recalls 15k Grand Cherokees, Durangos over brake issues

The Basics: Fiat Chrysler Automobiles is recalling 14,768 examples of the Jeep Grand Cherokee and Dodge Durango, both from the 2015 and 2016 model years, and built between December 9, 2015, and January 14, 2016. The Problem: The left front brake caliper on some vehicles may have been made from the wrong type of iron, and could be prone to crack. A cracked brake caliper may not function properly. Injuries/Deaths: None reported. The problem was discovered by the automaker during testing. The fix: Dealers will need to check the casting date of the component in question, and if necessary, replace the brake caliper. The schedule for carrying out the recall service has yet to be outlined. If you own one: Expect to hear from the manufacturer to arrange an appointment with your local dealer. Related Video: RECALL Subject : Front Left Brake Caliper May Break Report Receipt Date: MAR 23, 2016 NHTSA Campaign Number: 16V168000 Component(s): SERVICE BRAKES, HYDRAULIC Potential Number of Units Affected: 14,768 Manufacturer: Chrysler (FCA US LLC) SUMMARY: Chrysler (FCA US LLC) is recalling certain model year 2015-2016 Jeep Grand Cherokee and Dodge Durango vehicles manufactured December 9, 2015, to January 14, 2016. In the affected vehicles, the left front brake caliper may crack due to being made from an incorrect material. CONSEQUENCE: A cracked brake caliper may lengthen the distance needed to stop the vehicle and increase the risk of a crash. REMEDY: Chrysler will notify owners, and dealers will inspect the front left brake caliper and depending on its casting date, replace it, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Chrysler customer service at 1-800-853-1403. Chrysler's number for this recall is S16. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.