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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.

The origins of the Jeep Wave | The Exposition

Jeep culture is tight-knit community of passionate enthusiasts with plenty of interesting stories and traditions, like the Jeep Wave. But how did the Jeep Wave start? Episode 2 of The Exposition looks at some theories behind the origin of this driving ritual. Show full video transcript text [00:00:00] Get behind the wheel of a Jeep, and you'll hopefully notice the other Jeep owners waving at you as you pass by. It's kind of cool actually, but one thing we couldn't help wonder is, where and how did this wave start? If you've never heard of the Jeep Wave, don't worry, you're not alone. For example, my friend James - that's James. Back in 2013 he bought his first Jeep. Like many new young Jeep owners, he had no idea about the wave. He quickly caught on, though. [00:00:30] So where did it start? Oddly enough, I was only able to find three pretty convincing theories. Theory One - The wave started in WWII as a way for soldiers to acknowledge each other while driving by on patrol. Theory No. 2 - The wave began after the war. Which also makes sense. Since civilian Jeep owners were most likely returning veterans who already appreciated the car, the wave was a way to acknowledge each other's service. [00:01:00] Theory No. 3 is the wave started much later, in the 70s when off-roading really took off. Kind of a way to salute a kindred spirit out looking for adventure. Now, there is an unspoken rule of who waves first. The rule is, the younger Jeep always salutes the older one. Or if you have a stock Jeep you must wave to a modified Jeep first. These are interesting theories, but one thing's for sure, the Jeep wave is a unique tradition. The next time you drive a Jeep, be sure to wave as you pass another by. Related Video: Jeep Automotive History Ownership SUV Off-Road Vehicles Classics Videos

Fiat Chrysler picks Google, Samsung for global connected car system

DETROIT — Fiat Chrysler said on Tuesday it will use technology from Alphabet Inc's Google and Samsung to connect all its vehicles by 2022, providing music and video and facilitating future car-sharing and self-driving capabilities. Fiat Chrysler Automobiles NV (FCA) will use Google's Android operating system globally instead of a mixture of software that varies by region, a spokesman said. The automaker will also use a cloud-based digital platform from Samsung Electronics Co Ltd's Harman unit. Unlike its rivals General Motors and Ford, FCA has spent virtually nothing on developing self-driving vehicle technology. This saves the company large amounts of money, but makes it reliant on outside parties to provide technology and systems. FCA said it will launch the new capabilities in the second half of 2019. The company said the system will aid owners "by predicting maintenance needs, locating fuel and charging stations, receiving traffic prompts and restaurant offers and providing live customer-care assistance at the push of the button." Chrysler Dodge Fiat Jeep RAM Technology Emerging Technologies connected car