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Fiat Chrysler open to mergers, and PSA is looking for one

GENEVA — Fiat Chrysler (FCA) is open to pursuing alliances and merger opportunities if they make sense, but a sale of its luxury brand Maserati is not an option, Chief Executive Mike Manley said on Tuesday. "We have a strong independent future, but if there is a partnership, a relationship or a merger which strengthens that future, I will look at that," Manley told reporters at the Geneva Motor Show. Asked whether he would consider selling Maserati to China's Geely Automobile Holdings, as suggested by recent media reports, Manley said: "Maserati is one of our really beautiful brands and it has an incredibly bright future. ... No." FCA is often cited as a possible merger candidate. Bloomberg said this week that the Italian-American carmaker was attractive to France's PSA Group given its exposure to the U.S. market and its popular Jeep brand. The Detroit News' headline on the situation Friday read, "Fiat Chrysler CEO open to a deal as PSA circles" and stated that Manley's open-to-just-about-anything comments were aimed directly at PSA. Bloomberg said talks between the two were preliminary and said PSA chief Carlos Tavares has also contemplated mergers with General Motors or Jaguar Land Rover, which is losing money for Indian owner Tata. PSA has enjoyed a decade of turnaround and has $10.2 billion in net cash available. The maker of Peugeot, Citroen and DS, acquired Opel and Vauxhall in 2017 and made them almost instantly profitable. Manley, who took over after the death of Sergio Marchionne, said he currently had no news on possible deals. Manley also said the world's seventh-largest carmaker, which is lagging rivals in developing hybrid and electric vehicles, would take the least costly approach to comply with increasingly more stringent European emissions regulations. "There are three options. You can sell enough electrified vehicles to balance your fleet. Two: You can be part of a pooling scheme. Three is to pay the fines," he said. "I don't see a scenario when (carmakers) continue to subsidize technologies ... indefinitely." The carmaker had said last June it would invest 9 billion euros ($10.19 billion) over the next five years to introduce hybrid and electric cars across all regions to be fully compliant with emissions regulations. Asked about a 5-billion-euro investment plan for Italy FCA announced in November but then put under review, Manley said the plan had been confirmed as originally presented.

2023 Maserati MC20 Cielo offers unlimited headroom and 621 hp

Maserati is returning to the convertible segment after a brief hiatus with a topless version of the MC20 named Cielo. The roadster offers the same twin-turbocharged V6 engine and carbon fiber chassis as its coupe counterpart but it gains a power-retractable glass roof panel. "Cielo" means "sky" in Italian — it's a fitting name. Visually, the MC20 Cielo is nearly identical to the MC20 coupe from the rocker panels to the belt line. It's what's above that counts: Maserati fitted the roadster with a glass roof panel that opens or closes at the push of a button in about 12 seconds. The space that it occupies is located behind the passenger compartment so engineers had to redesign the decklid, and the engine is no longer visible through a glass cover. We're told that the transformation adds only about 143 pounds to the MC20 for a curb weight of roughly 3,400 pounds. Maserati planned the convertible model from the get-go so few compromises were made during the development process. The Cielo keeps the cool butterfly-style doors, and it offers the same amount of cabin and trunk space as the coupe. Folding away in a couple of seconds isn't the roof's only trick: it can go from clear to opaque in a matter of seconds thanks to Polymer-Dispersed Liquid Crystal (PDLC) technology. Like the coupe, the MC20 Cielo is powered by Maserati's excellent 3.0-liter Nettuno V6 engine. The mid-mounted six is twin-turbocharged to 621 horsepower and 538 pound-feet of torque, and it spins the rear wheels via an eight-speed automatic transmission. Maserati quotes a zero-to-62-mph time of approximately 3 seconds and a top speed of around 200 mph, which sounds like a quick and fun way to dry your hair. Brembo-built six-piston front and four-piston rear brake calipers keep the engine's power in check. Built in Italy, the 2023 Maserati MC20 Cielo will reach showrooms in the coming months. Pricing will be announced closer to the model's on-sale date. At launch, buyers will be able to order a limited-edition version called PrimaSerie Launch Edition that stands out from the standard model with a specific, three-layer paint color called Acquamarina that was initially developed for Maserati's customization program.

Stellantis expects to hit emissions target without Tesla's help

Franco-Italian carmaker Stellantis expects to achieve its European carbon dioxide (CO2) emissions targets this year without environmental credits bought from Tesla, its CEO said in an interview published on Tuesday. Stellantis was formed through the merger of France's PSA and Italy's FCA, which spent about 2 billion euros ($2.40 billion) to buy European and U.S. CO2 credits from electric vehicle maker Tesla over the 2019-2021 period. "With the electrical technology that PSA brought to Stellantis, we will autonomously meet carbon dioxide emission regulations as early as this year," Stellantis boss Carlos Tavares said in the interview with French weekly Le Point. "Thus, we will not need to call on European CO2 credits and FCA will no longer have to pool with Tesla or anyone." California-based Tesla earns credits for exceeding emissions and fuel economy standards and sells them to other automakers that fall short. European regulations require all car manufacturers to reduce CO2 emissions for private vehicles to an average of 95 grams per kilometer this year. A Stellantis spokesman said the company is in discussions with Tesla about the financial implications of the decision to stop the pooling agreement. "As a result of the combination of Groupe PSA and FCA, Stellantis will be in a position to achieve CO2 targets in Europe for 2021 without open passenger car pooling arrangements with other automakers," he added. Tesla's sales of environmental credits to rival automakers helped it to announce slightly better than expected first-quarter revenue this week. The next tightening of European regulations will soon be the subject of proposals from the European Commission. The 2030 target could be lowered to less than 43 grams/km. Related Video: Government/Legal Green Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM Tesla Citroen Peugeot Emissions Stellantis