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Fiat seeking $10B in financing to buy Chrysler

As Fiat looks to become the full owner of Chrysler, all it has standing in its way is the retiree trust of the United Auto Workers, which currently holds the remaining 41.5 percent of the company as the result of the Pentastar's bankruptcy deal. The Detroit News is reporting that that Fiat is currently talking to numerous banks in an attempt to raise around $10 billion to fund the purchase of Chrysler's remaining stake with enough left over to refinance the debt of both companies. We've known that Fiat has been working to obtain the capital to buy out Chrysler for some time now, but this is the first time we've seen Fiat tip its hand about how much cash it thinks it will need to close the deal.
The first order of business is a legal dispute over the value of the UAW's stake in Chrysler, which the report indicates could cost Fiat around $3.5 billion. The acquisition of remaining shares could happen by this summer, but it sounds like CEO Sergio Marchionne (above) might not be ready for a full merger until next year.

Ward's announces 10 Best Engines 2015

Ward's Auto has named its 10 Best Engines for 2015, covering a range of powerplants from fuel-sippers to fire-breathers. As with past years, forced-induction reigns supreme, with seven of the ten engines featuring a turbo or supercharger. This year is slightly different, though, as two of the seven blown engines are turbocharged three-cylinder mills, from the Ford Fiesta and Mini Cooper. They're joined by the 2.0-liter turbo four from the Volvo S60, the 1.8-liter turbo four from the Volkswagen Jetta and the 2.0-liter boxer from the Subaru WRX. BMW and Chrysler were the only marques to be named to this year's list twice, with the electric motor from the i3 joining the Mini's three-pot, and the 3.0-liter turbodiesel V6 in the Ram 1500 and Jeep Grand Cherokee repping the diesel crowd, alongside a certain supercharged monster. Hyundai also took a prize with a zero-emissions powertrain, with the Tucson FCV's 100-kilowatt fuel cell making the list (apparently Ward's is quite generous with what it deems an "engine"). Rounding out the list are two Autoblog favorites, each displacing 6.2 liters, but producing their power very differently. On the one hand, Chevrolet's overhead-valve, 455-horsepower V8, found in the Corvette, makes its power the old fashioned way. And in the other corner, we have one of the most exciting engines of the year – the 707-hp, 6.2-liter, supercharged Hellcat V8, featured so prominently in the Dodge Challenger and Charger SRT Hellcat. "We spend a lot of time reading the powertrain tea leaves throughout the auto industry, and we're proud that this year's list is a microcosm of all the latest innovation coming from automakers," said Ward's Editor-in-Chief Drew Winter in a statement. "It's not just a list for enthusiasts or for environmentalists," he says. "There's something for every vehicle shopper and every budget. All the powertrains on this list deliver a first-rate driving experience," Winter added. Scroll down for the full list from Ward's, and let us know which engines you think belong and which should have been included in this year's rankings. Ward's 10 Best Engines of 2015 Announced by Penton's WardsAuto Honorees span most diverse and technically advanced engines in 21 years of recognized powertrain excellence SOUTHFIELD, Mich., Dec. 10, 2014 /PRNewswire/ -- Penton's Wards 10 Best Engines of 2015 have been announced.

Dodge Challenger spied exercising supercharged Hellcat Hemi V8

One of the prime complaints against the Dodge Challenger is that, even in SRT8 guise, its 470 horsepower is responsible for hauling over 4,200 pounds of vehicle. For comparison, the 420 hp in the Ford Mustang GT only has to deal with 3,618 lbs. Things only get worse from there, as the higher-performance variants of both the Mustang and the Chevrolet Camaro are far more powerful than an SRT8 without adding on much heft.
So what is Chrysler to do? The correct answer is add a whole lot more grunt to its hefty two-door and even the odds. That's where the all-new Hellcat engine comes into play. We reported on this engine in May, and suggested that the Hellcat, a supercharged powerplant based on a 6.4-liter V8, would easily generate 500 to 570 hp and could likely arrive boasting more than 600 ponies.
Chrysler's ace in its sleeve has now been spied testing, with a number of Hellcat-equipped Challengers running the potent new engine both in more urbanized areas and under the sun of Death Valley. The hoods on these testers have been raised to accommodate the engine, and that camouflage over the fascias of these prototypes is there to hide a larger air intake. We also note what appears to be a new split grille under wraps. As for power output, our spies are now suggesting a Viper-equalling 640 hp from the Hellcat-equipped cars.