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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.

Is a Jeep Renegade Hybrid coming soon?

We've known that Jeep is working on an updated Renegade. We've seen prototypes with updated front and rear fascias and with updated interiors. But it seems that the next Renegade will have more than just cosmetic updates. One of our spy photographers caught Jeep testing a Renegade Trailhawk that looks like a normal current one, but it has an electric shock warning sign in the window. Can we therefore assume it'll be a Jeep Renegade Hybrid? This sign seems to indicate that the Renegade will offer some sort of electrified powertrain. And its use on a lifted, off-road oriented Renegade Trailhawk seems to indicate that it'll be available throughout the trim level lineup. The question is, will it really be a hybrid or something like the Wrangler four-cylinder that features a 48-volt electrical system and a starter/generator for mild electrical assistance? This system is becoming more and more common as a way for car companies to eke out a few more mpg as well as adding some performance gains. Then again, we never saw this sign in any prototype Wranglers, so it could be possible this Renegade is using a more traditional hybrid system like you would find in a Prius or Ioniq. FCA certainly has experience with full hybrids, as evidenced by the Pacifica PHEV. The Wrangler will be getting a PHEV iteration, too. We probably don't have long to find out what sort of electrification the Renegade will receive. The visually updated prototypes we've seen aren't radically changed, so it likely won't take long to finish testing and release them. We're expecting to see the little SUV revealed by the end of the year, and probably on lots early in 2019. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Jeep Renegade hybrid spy shots Image Credit: KGP Photography Green Spy Photos Jeep Crossover SUV Economy Cars Hybrid Off-Road Vehicles jeep renegade

Stellantis to offer electric versions of most of its European lineup by 2025

Newly merged automaker conglomerate Stellantis will offer electric versions of almost all of its European lineup by 2025, it said on Thursday, as the auto industry faces regulatory pushes in Europe and China to accelerate the shift to zero-emission cars. Formed in January by the merger of France's PSA and Italian-American group Fiat Chrysler, Stellantis is the world’s fourth largest carmaker with 14 brands including Opel, Jeep, Ram and Maserati, and like its peers faces an investor community keen for a road map to an electric lineup to rival Tesla . Speaking during Stellantis' first annual shareholders meeting, Chief Executive Carlos Tavares said that in 2021 the carmaker expects sales of electrified vehicles — that is, both plug-in hybrids and fully electric models — to more than triple to over 400,000 units in 2021. By 2025, electrified vehicles should make up 38% of European sales, a huge jump from the 14% of sales it expects in 2021. Tavares said by 2030 electric models should make up 70% of European sales and 35% of U.S. sales. He said Stellantis will use four electric platforms for passenger vehicles across its 14-brand empire — small, medium and large sizes for cars, and "frame" for high-margin SUVs and pickup trucks. Sweden's Volvo said this month its lineup would be fully electric by 2030, and Ford Motor Co said in February its lineup in Europe would be too. BMW has said at least 50% of its car sales should be fully-electric models by 2030. Sales of electric and plug-in hybrid cars in the European Union almost trebled to over 1 million vehicles last year, accounting for more than 10% of overall sales. Green Alfa Romeo Fiat Jeep Maserati Citroen Lancia Opel Peugeot Vauxhall Electric Hybrid Stellantis