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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.

Ram 3500 Heavy Duty recaptures the torque and maximum towing crowns

Correction: A previous version of this story mistakenly reported the horsepower of the high-output Cummins engine as 400. It actually produces 420 horsepower. The text has been updated to reflect this. Just as supercar builders are in never-ending battles for horsepower and track times, the pickup truck builders pursue torque and towing capacity, two things that the 2021 Ram Heavy Duty has improved enough to earn the coveted "best in class" designation, if only by a bit. The titles go to the Ram 3500 with the high-output version of the turbocharged 6.7-liter Cummins straight-six. Horsepower is seemingly unchanged, but torque is up by 75 pound-feet to 1,075. This increase comes from additional boost from the turbo and additional fuel flow from the fuel injection system. The added torque also bests the Ford Super Duty's 6.7-liter Power Stroke V8 diesel by 25 pound-feet, and the Chevy Silverado HD's 6.6L Duramax V8 by 165. But both V8s beat the Cummins' 420 horsepower; the Ford by 55 and the Chevy by 25. As for towing, the Ram 3500's maximum fifth-wheel towing capacity has increased from 35,100 pounds to 37,100 thanks to a redesigned gooseneck hitch. The new number just tops the Ford F-450 Super Duty's previous record by 100 pounds. It also bests the Silverado 3500HD's best by 1,100 pounds. Ford keeps the conventional tow rating crown (towing from a rear-mounted hitch) at 24,200 pounds with the F-450 compared to the Ram 3500's 23,000 and the Chevy Silverado 3500HD's 20,000. One final update to the 2021 Ram Heavy Duty line is inside the truck. It's now available with a digital rear-view mirror, switchable to a normal mirror. It should be handy for owners who regularly carry loads that obscure the rear window and, in turn, the rear-view mirror. The new Ram Heavy Duty models will be available at dealers this month. Related Video:

Join Autoblog editors for a full video tour of the 2019 Detroit Auto Show

The 2019 North American International Auto Show might have been a little more quiet than past years, but there were still some pretty major reveals, including the Toyota Supra, new Ford Explorer, Shelby GT500, Subaru WRX STI S209 and Kia Telluride. We also saw some lovely concepts like the Nissan IMs and Lexus LC Convertible. Senior Editor Alex Kierstein, Consumer Editor Jeremy Korzeniewski and Senior Green Editor John Beltz Snyder join me, Associate Editor Reese Counts — with Social Media Manager Michael Dylan Ferrara behind the camera — on a long walk through the show. We discuss cars, poke around the stands, dress a bloody wound and answer your questions in the Facebook comments. For more Detroit coverage, you can check out Autoblog's picks for the best in show, listen to our podcast or look at the best images from all the reveals. Finally, don't forget to watch Editor-in-Chief Greg Migliore hand over our 2019 Technology of the Year award. Related Video: Green Detroit Auto Show Acura Cadillac Chevrolet Ford GM Hyundai Infiniti Kia Lexus Nissan RAM Subaru Toyota Volkswagen Truck Convertible Coupe Crossover Hatchback Minivan/Van SUV Videos Sedan facebook 2019 detroit auto show live