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FCA compromises with France, moving Renault merger bid forward

FRANKFURT/PARIS – Renault directors were preparing to review Fiat Chrysler's $35 billion merger offer on Tuesday, after the Italian-American carmaker resolved differences with the French government overnight, three sources said. The compromise on French government influence over a combined FCA-Renault may clear the way for Renault's board to approve a framework agreement beginning the long process of a full merger, unless new issues surface at the meeting. France, Renault's biggest shareholder with a 15% stake, had been pressing for its own guaranteed seat on the new board and an effective veto on CEO appointments. But after late-night talks with FCA Chairman John Elkann, the French government has accepted a compromise that would see it occupy one of four board seats allocated to Renault, balanced by four FCA appointees, the sources said. Renault would also cede one of its two seats on a four-member CEO nominations committee to the French state, they said. Renault, FCA and the French government all declined to comment on the discussions. The same evening that the compromise was was negotiated, activist hedge fund CIAM wrote to the board of Renault to say it "strongly opposed" a planned $35 billion merger with Fiat Chrysler. Calling the deal "opportunistic," the fund said the current deal terms strongly favored Fiat Chrysler and offered no control premium. (Reporting by Arno Schuetze and Laurence Frost; additional reporting by Giulio Piovaccari in Milan and Simon Jessop; editing by Jason Neely and Rachel Armstrong) Government/Legal Chrysler Fiat Mitsubishi Nissan Renault merger

Waymo picks Detroit factory to build self-driving fleet by mid-2019

SAN FRANCISCO — Alphabet Inc's Waymo said on Tuesday it had chosen a factory in Detroit to mass produce self-driving cars, looking to the historical heart of the auto industry to build the vehicles of the future. The company's chief executive, John Krafcik, said in a blog post that Waymo would partner with American Axle & Manufacturing to lease and repurpose an existing Detroit facility that will be operational by mid-2019. The facility belongs to American Axle, next to the GM Hamtramck facility that is at risk of being shuttered, and is across the Detroit River from Windsor, where the Chrysler Pacificas that Waymo uses are built. Presumably Waymo will do the self-driving fitment of Pacificas at the new facility. Waymo said in January it had chosen Michigan for its first production facility, adding it would receive incentives from the public-private partnership agency, the Michigan Economic Development Corporation, and create up to 400 jobs over time exclusively related to self-driving. Krafcik said in his blog post Tuesday that it's the "perfect facility," with up to 200,000 square feet to expand into. He said Waymo will hire the region's auto manufacturing talent. Waymo plans to buy 62,000 Pacificas and 20,000 Jaguars and convert them for autonomous driving. By 2022, it intends to conduct about 1 million trips per day. In a sea of rivals, Waymo is generally thought of as far ahead in the self-driving race. It already operates a robotaxi service in Arizona that it plans to expand geographically over time. Global automakers, large technology companies and startups are all engaged in self-driving efforts, but experts expect it will be years before systems are ready to be rolled out in all areas, with software and regulations among the many challenges. Waymo is competing with rivals General Motors and Uber Technologies to deploy such vehicles for the masses. Tesla CEO Elon Musk has also announced the company plans to launch a robotaxi service in 2020. Waymo, which has been working on self-driving technology for a decade, provided few new details. American Axle, with which Waymo is partnering for its Detroit facility, was formed in 1994 when an investment team purchased five plants that General Motors had put up for sale. GM plans to end output at its last Detroit factory next year, after announcing in November a plan to halt production at five North American assembly plants and cut about 15,000 jobs.

2021 Chrysler Pacifica First Drive | More features, better van

Ever since its introduction as a 2017 model, the Chrysler Pacifica has been one of our favorite minivans. It offers stylish looks inside and out, traditional minivan practicality, excellent infotainment and some of the most compelling powertrain options. For its 2021 model year refresh, the Pacifica smartly expands on all the things we already enjoyed and avoids ruining any inherent goodness, as evidenced by our test van, a new-for-'21 Pinnacle trim level. The Pacifica’s changes start on the outside with redesigned front and rear fascias. These changes are probably the least successful, by which we mean, theyÂ’re not bad, just different. The modest grille and simple bumper design have given way to a deeper main grille and large lower openings, plus a pronounced air dam. It gives the van a wider, lower and meaner look. We donÂ’t dislike it, but it seems different rather than better. We do like the revamped tail with its full-width taillights. And if for some reason you prefer the previous design, the entry-level Chrysler Voyager is just a decontented Pacifica with the old styling. Under the skin, the biggest change is the addition of all-wheel drive, something not shared with the Voyager. The feature has been absent from the Chrysler van lineup for several years, since Chrysler couldnÂ’t fit a driveshaft between the underfloor wells for the Stow ‘n Go second-row seats. That issue has been solved, and now you can have AWD without sacrificing any interior seating flexibility. The AWD system can send all power to the rear wheels as needed, and it also can disconnect the rear driveshaft to increase fuel economy. Our test Pacifica was equipped with all-wheel drive, and it was certainly effective in some of metro DetroitÂ’s snowy conditions, offering a bit more launch traction and some assistance powering out of slow corners. But in the dry, it doesnÂ’t change the driving experience at all. Also, despite the ability to disengage the rear driveshaft, fuel economy still takes a hit compared to the front-drive model, dropping from 19 mpg in town and 28 on the highway, to 17 in the city and 25 on the highway. That's a difference of 2 mpg combined, which works out to be $150 per year in annual fuel costs, according to the EPA.