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Dongfeng and PSA extend Chinese joint venture

BEIJING/PARIS — China's Dongfeng and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles (FCA). Dongfeng said on Thursday it had agreed with PSA to extend the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). Under the deal, the venture could get the rights to PSA's new brands in China and will benefit from new technologies and intellectual properties, the Chinese company said. PSA was not immediately available for comment. The announcement comes a day after the companies said Dongfeng would reduce its 12.2% stake in PSA by selling 30.7 million shares to the French company. Analysts said the move could smooth U.S. regulatory approval for PSA's roughly $50 billion (GBP38.97 billion) merger with Italian-American carmaker FCA. The sale of Dongfeng's shares in PSA, worth around 680 million euros ($757 million), will leave the Chinese group holding around 4.5% of the merged PSA-FCA, which is set to become the world's fourth-biggest carmaker by sales volumes. "As the cooperation between Dongfeng and PSA deepens, we expect the joint venture to continue making good progress in China," a Dongfeng representative said. On a conference call, Dongfeng said DPCA would have exclusive rights to PSA's Opel cars should the partners agree to bring the brand to China, and enjoy lower prices on car parts imported from PSA. Earlier this year, a document seen by Reuters showed Dongfeng and PSA plan to cut jobs at Wuhan-based DPCA and reduce its number of car plants to try to make the venture more profitable. Chrysler Dodge Fiat Jeep RAM Citroen Peugeot China FCA PSA Dongfeng

For his last act, Marchionne will outline an EV/hybrid roadmap this week

MILAN/LONDON — Fiat Chrysler (FCA) boss Sergio Marchionne is expected to outline new plans for electric and hybrid cars in a strategy presentation on Friday, aiming to ensure the world's seventh-largest carmaker remains in the race in the absence of a merger. The 65-year-old will present FCA's strategy to 2022, his final contribution to the company he turned around and multiplied in value through 14 years of canny dealmaking. After failing to secure a tie-up he said was necessary to manage the costs of producing cleaner vehicles, Marchionne needs to show the group can keep churning out profits on its own, even as emissions rules tighten, SUV competition intensifies and worries around his succession abound. Marchionne had long refused to jump on the electrification bandwagon, saying he would only do so if selling battery-powered cars could be done at a profit. He even urged customers not to buy FCA's Fiat 500e, its only battery-powered model, because he was losing money on each sold. But Tesla's success and the need to comply with tougher emissions rules have forced Marchionne to commit to what he calls "most painful" spending. "FCA is way behind rivals in terms of hybrid and electric vehicles and they need to hit the accelerator to convince investors they can close that gap," said Andrea Pastorelli, a fund manager at 8a+ Investimenti. Germany's Volkswagen, Daimler, BMW and U.S. rivals GM and Ford have committed to spending billions of euros each in coming years to try produce profitable cars powered by cleaner fuels. FCA needs to present a clear roadmap, just like Volvo Cars, which ditched diesel from its best-selling XC60 SUV, launched a new electric brand and pledged to shift all brands to hybrid by 2019, a banking source close to FCA said, noting: "The tech divide determines winners and losers in the industry." Marchionne has already said half of the wider FCA fleet will incorporate some elements of electrification by 2022, while luxury marque Maserati will spearhead FCA's electrification drive by making all new models due after 2019 electric. But its plans remain vaguer and less advanced than most big rivals and some investors wonder about the capital required to make vehicles compliant, and what share of spending can go to electrification given FCA's numerous demands.

Dodge whips covers off 2013 Blacktop series

Dodge introduced us to its Blacktop model lineup a year ago with the 2012 Charger and followed up with more recently with the 2013 Challenger and 2013 Avenger. Now the automaker will be applying this ominous-looking treatment to the Durango, Grand Caravan and Journey models for 2013 as well. These models will be unveiled next week at the Detroit Auto Show, but Dodge has released most of the details for these new products including pricing and availability.
If the Grand Caravan R/T (aka, the Man Van) wasn't aggressive enough for you or its $30,000 starting price was a little too pricey, then the 2013 Grand Caravan Blacktop could be the ticket. Starting with the SXT trim level (which stickers at $19,995), the Blacktop package costs only $595, and adds unique features such as blacked-out headlights, grille and fog lights bezels and an all-black interior. The van rides on black-accented, 17-inch aluminum wheels. The Grand Caravan Blacktop is only available in monochromatic paint schemes limited to Billet Silver, Brilliant Black, Maximum Steel, Redline Red and Stone White
Likewise, the 2013 Journey Blacktop is offered only on the SXT model (starting at $18,995) with all of the crossover's normal options such as four- and six-cylinder engines, five- or seven-passenger seating and front- or all-wheel drive. The Blacktop package adds $995 to the Journey SXT's price and features many of the same black accents as the Grand Caravan like the headlights, grille, door mirrors and lower fascia. Exterior colors are limited to Bright Silver, Bright Red, Brilliant Black, Brilliant Red Tri-Coat, White, Pearl White Tri-Coat and Storm Grey, and the package's 19-inch wheels come in Gloss Black. Inside, the Journey Blacktop comes standard with black cloth seats and Chrysler's 8.4-inch Uconnect touch screen, but black leather is also available as an option.