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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.

Jeep Wrangler 'Scrambler' truck spied again, our best look yet

The upcoming Jeep Wrangler pickup truck has been a closely-guarded vehicle for a while, and as a result, quite a few photos have been from quite a distance and sometimes a tad blurry. These new shots are exciting because they're taken much closer and are very clear. Unfortunately, FCA is still being very careful with camouflage, and as a result, there isn't much to see here. We can definitely tell that from the C-pillar forward, the truck is practically identical to the 2018 Wrangler Unlimited, down to the rear doors that are angled to clear the Unlimited's rear wheels. That's not necessary here, so there's a large section of sheetmetal between the door crease and the fenders. We're curious how Chrysler will address that to keep it from looking awkward. We also get another look at the rear suspension. As we previously reported, the rear suspension seems to share more in common with the Ram 1500 than the Wrangler SUV. The shock placement and low anti-roll bar are among the details that are very Ram-esque. Like both the Ram and the Wrangler, the Scrambler will use coil springs at all four corners, and as with the Wrangler, the front axle is solid, too. Other details we expect for the Wrangler Scrambler pickup are the gas-powered V6 and turbo inline-four engines mated to either an eight-speed automatic or six-speed manual transmission. It will probably get the EcoDiesel V6, eventually, too. The truck will also probably have a convertible top based both on rumors and spy photos of an older prototype. We expect the Wrangler pickup will be revealed early next year in time for delivery later that year. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Driving the Toyota Supra, Honda Passport and BMW 3 Series | Autoblog Podcast #582

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Green Editor John Beltz Snyder and West Coast Editor James Riswick. First, they talk about the cars they've been driving, including the Honda Passport, BMW 330i and Audi RS5. They follow up with notes about driving the Toyota Supra and 86, and whether Toyota's new sports car strategy makes sense. Then they discuss the news, including the Ferrari SF90 Stradale plug-in hybrid, a possible Renault-FCA merger, death rumors for the Jaguar XJ and thoughts on the upcoming Chevy Trailblazer. Autoblog Podcast #582 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2019 Honda Passport 2019 BMW 330i 2019 Audi RS5 Sportback Toyota Supra, 86 and the company's sports car strategy In the news: Ferrari SF90 Stradale FCA and Renault Jaguar XJ going away? Chevy Trailblazer Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: