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Chrysler says its 8-speed transmissions will save 700 million gallons

Chrysler Group's TorqueFlite eight-speed transmission could be earning some serious green bragging rights if the company's projections are correct. The recently widely proliferated automatic gearbox, which is now in more than a million vehicles around the world, is poised to save drivers an estimated 700+ million gallons of fuel over the vehicles' lifetimes (an expected cost savings of $2.5 billion). In addition, Chrysler expects a reduction in CO2 emissions by more than six million metric tons. According to Chrysler, and depending on the vehicle, the TorqueFlite can improve fuel economy. The TorqueFlite autobox features particularly close ratios from fifth to eighth gear (see the press release below for the specific numbers), and uses low-viscosity fluid that doesn't need to be replaced. Transmission software adapts to the driving situation to optimize efficiency based on driver behavior, temperature, grade, stability control, and longitudinal and lateral acceleration. The TorqueFlite is capable of handling a variety of duties. As evidenced by the wide range of vehicles Chrysler Group has seen fit to equip with the eight-speed transmission, the TorqueFlite is capable of handling a variety of duties. Since its 2012 introduction, the TorqueFlite has gone from performing cog-swapping duties in Dodge Charger and Chrysler 300 models equipped with the 3.6-liter Pentastar V6 to changing gears in vehicles such as the Pentastar- and Hemi-powered Dodge Durango, Jeep Grand Cherokee and even the Ram 1500 EcoDiesel. For the 2015 model year, the eight-speed is finding its way into even more vehicles with the addition of a third version. In addition to the American-made TorqueFlite 845RE and 8HP70, the new 8HP90 will be manufactured in Saarbrucken, Germany. The 8HP90 is designed for higher torque loads, making it ideal for high-performance vehicles like the 2015 Dodge Challenger SRT Hellcat. The already-in-use 8HP70 will expand its duties to be used in 2015 Hemi models such as the Dodge Charger, Challenger, and Challenger SRT8. You can see the list of those benchmarks in Chrysler's press release below.

Fiat Chrysler shares get a boost after revised Stellantis merger deal with PSA

MILAN — Shares in Fiat Chrysler (FCA) rose sharply in Milan on Tuesday after the car maker and French partner PSA revised the terms of their merger deal, with FCA's shareholders getting a smaller cash payout but a stake in another business. FCA and PSA, which last year agreed to merge to give birth to Stellantis, the world's fourth largest car manufacturer, said late on Monday they had amended the accord to conserve cash and better face the COVID-19 challenge to the auto sector. Milan-listed shares in Fiat Chrysler rose almost 8% by 1000 GMT, while PSA gained 1.5%. Under the revised terms, FCA will cut from 5.5 billion euros ($6.5 billion) to 2.9 billion euros the cash portion of a special dividend its shareholders are set to receive on conclusion of the merger. However, PSA will for its part delay the planned spinoff of its 46% stake in car parts maker Faurecia until after the deal is finalized. That means all Stellantis shareholders — and not just the current PSA investors - will get shares in a company which has a market value of 5.8 billion euros. Based on Stellantis' 50-50 ownership structure, FCA and PSA respective shareholders will each receive a 23% stake in Faurecia. Analysts welcomed the 2.6 billion euros in additional liquidity for Stellantis' balance sheet as well as the increase in projected synergies to more than 5 billion euros from 3.7 billion. There was also further reassurance as the two companies confirmed they expected the deal to close by the end of the first quarter of 2021. "All told, the two players emerge as winners," broker ODDO BHF said in a note. "Of the two, FCA might be a bit more of a winner in the short term given the structure of the deal and the numerous payouts to shareholders to come in the quarters ahead (potentially close to 5 billion euros versus the current capitalization of around 16 billion euros)." The special dividend for FCA shareholders had proved contentious after Italy offered state guarantees for a 6.3 billion euro loan to the company's Italian business. "These announcements should, at last, end the debate over the financial terms of the merger, which had become a big topic and was still penalizing the two groups' share performances," ODDO BHF said. PSA and FCA said they would consider paying out 500 million euros to shareholders in each firm before closing or else a 1 billion euro payout to Stellantis shareholders afterwards, depending on market conditions and company performance and outlook.

Toyota, Ford not interested in FCA merger

Sergio Marchionne will preach the benefits of mergers to anyone who'll listen, but his calls for industry consolidation may be falling on deaf ears. At least, that is, the ears of those who the Fiat Chrysler chief would most like to bend. Not only is General Motors uninterested, but according to The Detroit News, neither are Toyota or Ford. "It's something we would not be interested in," said Toyota's North American chief Jim Lentz, at the groundbreaking ceremony for the new Toyota Technical Center. "At 10 million (vehicles) we have enough scale right now to do what we need to do. There really would be no advantage for us." Toyota isn't the only one unenthused by the prospect of merging with Fiat Chrysler Automobiles. The Detroit News also reports that Ford, though it may yet to have been approached by Marchionne, wouldn't be interested either. "We're not a suitor for FCA," said Ford CFO Bob Shanks. "We don't see that type of opportunity as one that applies to us." With GM, Toyota, and Ford expressing disinterest in Marchionne's merger idea, the FCA chief will likely start looking elsewhere – or look for other ways to compel his primary candidate to reconsider. He may eventually find a partner – more likely in the Far East or within Europe – but it may not take the form of the major player Sergio has hoped for. News Source: The Detroit NewsImage Credit: Bill Pugliano/Getty Chrysler Fiat Ford Toyota Sergio Marchionne FCA merger fiat chrysler automobiles