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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Sunday Drive: Taking a gaze into the automotive crystal ball

Mankind has long been fascinated by the future. So it makes sense that this past week's top stories were all about cars, trucks, and SUVs that won't be hitting the market until the 2019 model year. And right at the top of the list is the Ram 1500. We've come to know Ram as the truck maker that styles its pickups with cues cribbed from big rigs, but that look has slowly evolved over time into something uniquely its own. The next Ram 1500 continues this trend, with a newly refined look that we can't wait to see in person. Up next is the 2019 Chevy Silverado. Pickup trucks have been, continue to be, and will remain the best-selling vehicles in America. And General Motors is a leader in the field, with two distinct offerings with which to entice buyers, one from the bread-and-butter Chevrolet brand and one wearing the slightly more upscale GMC badge. The Chevy looks to get LED lighting elements for 2019, which ought to keep the truck from looking dated when compared to the Ford F-150 and the previously mentioned Ram 1500. From there we move past pickup trucks and into SUVs and sedans. The 2019 Jeep Cherokee looks to get toned down a bit with its next refresh, and the '19 BMW 3 Series continues its slow evolutionary journey at the top of its aspirational sales pedestal. Finally, spy shots give way to official production reveals for the 2019 Audi A7 and Polestar 1. This pair of European luxury cars won't compete with one another – one is a rakish hatchback and the other a sports coupe – any further than for the eyeballs of our readers, but both proved popular enough to merit inclusion in our weekly roundup. As always, tune in to Autoblog next week for a front-row seat to all the happenings worth following in the automotive industry. 2019 Ram 1500 spotted without the classic crosshairs 2019 Chevy Silverado spied with new LED accents 2019 Jeep Cherokee reveals a much more normal face 2019 BMW 3 Series spy shots reveal production lights, new interior details 2019 Audi A7 revealed: More torque, refined styling Polestar 1 First Look | The 600 horsepower hybrid Scandinavian Green Audi BMW Chevrolet Jeep RAM Volvo Truck Hatchback SUV Future Vehicles Hybrid Luxury Performance Sedan sunday drive polestar 1

Winter storm got you down? Try snowboarding through Manhattan

Two filmmakers decided to make the best of this weekend's historic snowstorm by turning New York City into a winter sports enthusiast's wonderland. Popular YouTube based filmmakers Casey Neistat and Jesse Wellens uploaded this video of Neistat snowboarding through the empty streets of Manhattan yesterday. While officials were warning motorists to avoid driving in the blizzard, Neistat and his buddy were being pulled by a Jeep Wrangler through Times Square. It goes without saying that this stunt is suicidally dangerous. There are several moments in the video where Neistat gets pretty close to wiping out on the back of parked, snow covered cars or on the cornerstones of buildings. All to the soundtrack of Frank Sinatra's New York, New York, no less. The police do make a cameo, but NY's finest admit to merely wanting to watch the escapades. "Someone complained about you, so we're going to act like we're talking to you," the unnamed officer can be heard saying on video. The original video has since gone viral, and currently stands at over 6.2 million views in just 24 hours. Despite the virality of their tricks, please do not attempt this in your own snowbound metropolis.