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Chrysler investing $20M in Toledo plant to support 9-speed auto production

In 2011, Chrysler announced a $72-million investment in its Toledo Machining Plant to modernize production of the eight- and nine-speed torque-converters for automatic transmissions made there. That upgrade work won't be finished until Q3 of this year, but Chrysler has already announced a further $19.6-million investment to increase production capacity for the nine-speeders.
The extra units will be necessary because the nine-speed transmission they'll be mated to is going into three popular models: it will debut on the 2014 Jeep Cherokee, then go into the Chrysler 200 and Dodge Dart. The company predicted that this year alone it would sell 200,000 units equipped with the nine-speed tranny, and it is spending some $374 million in addition to the investment in Toledo to upgrade production capacity for it.
The work attached to this new investment won't begin until Q3 of 2014, and it will be finished by the end of that year. There's a press release below with all the details.

‘Star Trek’ actor's family settles with Fiat Chrysler over his death

LOS ANGELES — The family of late "Star Trek" actor Anton Yelchin has settled a wrongful death lawsuit with Fiat Chrysler Automobiles NV over the rollaway crash of a Jeep Grand Cherokee that killed the up-and-coming actor almost two years ago. Terms of the settlement, which was filed in Los Angeles Superior Court on Tuesday, were not disclosed. The lawsuit filed by Yelchin's parents, celebrated Russian figure skaters Victor and Irina Yelchin, is believed to be the first wrongful death complaint filed over Fiat Chrysler's April 2016 recall of more than 1.1 million vehicles due to a rollaway risk. Yelchin, 27, best known for playing navigator Pavel Chekov in the "Star Trek" movie reboot, died in June 2016 when his 2015 Grand Cherokee rolled backward in the steep driveway of his Los Angeles home, pinning the actor against a brick wall and fence. Yelchin's final role was in the indie film "Thoroughbreds," which was released this month. In a statement, Fiat Chrysler said on Thursday the company is "pleased that we've reached an amicable resolution in this matter. ... We continue to extend our deepest sympathies to the Yelchin family for their tragic loss." Messages left with Yelchin family attorney Gary Dordick seeking comment were not immediately returned. The lawsuit also accused Fiat Chrysler of negligence, product liability and breach of warranty. Dordick said when he filed the lawsuit that Fiat Chrysler had mailed a recall letter to Yelchin that was received seven days after his death. Final recall notices were sent during that time, but interim notices had been mailed at least 17 days before Yelchin's accident, Fiat Chrysler said. At the time of Yelchin's death, the rollaway problem had been tied to at least 68 injuries, 266 crashes and 308 reports of property damage. Drivers complained they would exit vehicles with the engine running falsely believing the vehicle was in park. Fiat Chrysler furnished a software upgrade to the affected 2014-2015 model year Jeep Grand Cherokee sport utility vehicle as well as 2012-2014 Dodge Charger and Chrysler 300 sedans.Reporting by Eric KelseyRelated Video:

China-FCA merger could be a win-win for everyone but politicians

NEW YORK — Fiat Chrysler boss Sergio Marchionne has said the car industry needs to come together, cut costs and stop incinerating capital. So far, his words have mostly fallen on deaf ears among competitors in Europe and North America. But it appears Marchionne has finally found a receptive audience — in China. FCA shares soared Monday after trade publication Automotive News reported the $18 billion Italian-American conglomerate controlled by the Agnelli family rebuffed a takeover from an unidentified carmaker from the Chinese mainland. As ugly as the politics of such a combination may appear at first blush, a transaction could stack up industrially, and perhaps even financially. A Sino-U.S.-European merger would create the first truly global auto group. That could push consolidation to the next level elsewhere. Moreover, China is the world's top market for the SUVs that Jeep effectively invented, so it might benefit FCA financially. A combo would certainly help upgrade the domestic manufacturer; Chinese carmakers have gotten better at making cars, but struggle to build global brands, and they need to develop export markets. Though frivolous overseas shopping excursions by Chinese enterprises are being reined in by Beijing, acquisitions that support the modernization and transformation of strategic industries still receive support, and the government considers the automotive industry to be strategic. A purchase of FCA by Guangzhou Automobile, Great Wall or Dongfeng Motors would probably get the same stamp of approval ChemChina was given for its $43 billion takeover of Syngenta. What's standing in the way? Apart from price (Automotive News said FCA's board deemed the offer insufficient) there's the not-insignificant matter of politics. Even as FCA shares soared, President Donald Trump interrupted his vacation to instruct the U.S. Trade Representative to look into whether to investigate China's trade policies on intellectual property. Seeing storied Detroit brands like Jeep, Chrysler, Ram and Dodge handed off to a Chinese company would provoke howls among Trump's economic-nationalist supporters. It might not play well in Italy, either, to see Alfa Romeo and Maserati answering to Wuhan instead of Turin — though Automotive News said they might be spun off separately. Yet, as Morgan Stanley observes, "cars don't ship across oceans easily," and political considerations increasingly demand local manufacture of valuable products.