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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.

Ram 1500 to get V6 diesel engine later this year

Happy Valentine's Day, diesel lovers! Chrysler announced today that the Ram 1500 will offer a light-duty diesel engine when it goes into production this fall. Using the same turbocharged 3.0-liter EcoDiesel V6 recently introduced in the 2014 Jeep Grand Cherokee, the Ram 1500 is expected to get even better fuel economy than the current 2013 model's best-in-class 25 miles per gallon on the highway.
Power output has not been released for the Ram 1500 EcoDiesel, but in the Grand Cherokee, this engine produces 240 horsepower and 420 pound-feet of torque, and it will be paired with Chrysler's eight-speed automatic transmission. This has definitely been a busy and exciting year for the Ram division, bringing home major awards such as the 2013 North American Truck of the Year, 2013 Motor Trend Truck of the Year and 2013 Truck of Texas not to mention the recent announcement that the Ram HD models will offer a best-in-class towing capacity of 30,000 pounds - all of which is pointed out in the press release, below.

Ram 1500 Rebel TRX reveals hood scoop-mounted marker lights

Now that the Ram 1500 Rebel TRX is testing with production bodywork, the company has been doing a thorough job of covering up the off-road super truck. But fortunately lights still show through the thick coverings, and we're finally able to see the truck's wide vehicle-denoting marker lights. As you can plainly see, they're mounted to the inside of the hood scoop. This differs from the original Ram TRX concept that had its lights mounted on the roof like a traditional heavy duty pickup truck. It also differs from the Ford F-150 Raptor's grille-mounted marker lights. Both the Raptor and the TRX have these lights not just for style, but because they're wide enough to require the amber marker lights with three in the middle and one on either side of the truck. We can't quite spot the outside marker lights for the Ram. They could be integrated into the headlights, since it seems like the turn signal is particularly wide on this truck compared with regular models. The position of these lights also matches a recent report, lending some more credibility to other claims in it. We expect the Ram 1500 Rebel TRX to be revealed by the end of the year, perhaps as soon as the Detroit Auto Show, which is still scheduled for June. We know it will have a supercharged V8, since we've heard it ourselves, and reports say it will make at least 707 horsepower like the Charger and Challenger Hellcat. It has thoroughly modified suspension for high-speed off-roading, just like the Raptor. And of course it will have four-wheel drive.