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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.

Jeep Renegade Hell's Revenge is the Harley rider's Jeep

Well, here's a thing. Yes, it's a Jeep Renegade. Yes, it has flames on it. And no, we aren't really sure how to feel about it. This is the Renegade Hell's Revenge. Presumably named after the Hell's Revenge Trail in Moab, this one-off baby Jeep is the product of Italian tuning house Garage Italia Customs and draws inspiration from the collected works of Harley-Davidson. It's not the first time a car company has attached the Milwaukee icon's badge to one of its vehicles – the company has a long history of partnering with Ford for special edition pickup trucks – but it's the first time we can recall the brand teaming with Jeep. The Hell's Revenge was created because of the 25th annual European H.O.G. Rally, a big Harley-Davidson festival being held in Portoroz, Slovenia this weekend. And since Europeans have a bizarre infatuation with Harleys, Jeep probably saw an excellent advertising opportunity and slotted the off-road brand in as the event's main sponsor. We have to admire the workmanship on this diesel-powered Renegade. Ignore the fact that there's a flame motif, and the actual paint job itself is absolutely lovely. According to FCA's official release, GIC used four layers of matte paint before applying fluorescent paint. The dashboard also gets a bright, exuberant flame motif, while the seats are a combination of Foglizzo Nappa leather and black denim. The functional changes are minor. BFGoodrich tires and a jacked-up suspension provide extra capability, and there are a pair of adorable LED spotlights ahead of the two A-pillars. It's an impressive effort. Really. But when you remember that the last Chrysler product to wear a flame motif was the PT Cruiser, we wonder if Jeep knew what kind of company its newest CUV would be in. Related Video:

FCA recalling 323,000 cars for wiring, software issues

The Basics: Fiat Chrysler Automobiles (FCA) is conducting a voluntary recall for an estimated 323,361 cars in the US. The affected vehicles were built after September 23, 2014 and include: the 2015 Chrysler 200, Ram ProMaster City, Jeep Renegade, and 2014 and 2015 Jeep Cherokees. The Problem: An insufficient crimp in the vehicles' wiring harness may result in a solenoid fault code, which could cause the engine to stop. The loss of power could lead to an accident. Injuries/Deaths: None reported. The Fix: FCA will update the affected vehicles' software and replace wire harnesses, as needed. According to FCA, owners that experience the problem can temporarily resolve the issue by restarting the vehicle. If you own one: FCA is reaching out to owners to schedule a service. Related Video: Statement: Wire Harness Crimp July 22, 2016 , Auburn Hills, Mich. - FCA US LLC is voluntarily recalling an estimated 323,361 vehicles in the U.S. to update certain software and replace wire harnesses, as needed. An examination of warranty data led to an FCA US investigation that discovered an insufficient crimp in a wire harness. Such a crimp may lead to a solenoid fault code that can cause propulsion loss. The Company is unaware of any related injuries or accidents. Most vehicles in the recall population will not experience this fault code over their lifetimes. However, should the condition occur, it can typically be temporarily resolved by stopping the vehicle and re-starting its engine. Accordingly, FCA US urges customers to heed the instructions on their recall notices. Affected are certain model-year 2015 Chrysler 200 midsize sedans, Ram ProMaster City small vans, Jeep Renegade and Cherokee SUVs. Certain model-year 2014 Cherokees are also affected. A change made in the harness-manufacturing process eliminates the need to recall any vehicle built after Sept. 23, 2014. An estimated 35,511 additional vehicles in Canada are included in the campaign; as are 7,067 in Mexico; and 43,927 outside the NAFTA region. Customers will be advised when they may schedule service. Those with questions may call the FCA US Customer Care Center at 1-800-853-1403. News Source: FCAImage Credit: AOL Recalls Chrysler Jeep RAM FCA jeep renegade ram promaster city