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FCA and Peugeot reportedly agree on merger

Citing a Wall Street Journal report, the Detroit Free Press says "Fiat Chrysler and PSA Groupe have agreed to merge." The Journal reported on talks between the two car companies only yesterday. It's said that Peugeot's board met yesterday to approve the deal, FCA's board met today, and an announcement could come as soon as tomorrow, Thursday. Both automakers have released statements, but neither company has released any information beyond admitting to ongoing talks. If the merger happens, the combined entity would become the world's fourth-largest carmaker with a $50 billion valuation, slotting in behind Toyota, the Volkswagen Group, and the Renault Nissan Mitsubishi alliance. Among the merger options possible, "an all-stock merger of equals" is the one analysts and Moody's seem to give the best grade. The reported merger would come about four months after FCA walked away from merger talks with Renault. FCA said the French government scuppered those talks over the role of Nissan in a reformed entity, but there were also brewing issues with French unions, and ongoing turmoil among Renault and Nissan leadership thanks to continuing fallout from ex-CEO Carlos Ghosn's arrest last year. FCA makes most of its revenue in the U.S. and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany. The two companies already have a partnership in Europe making vans, one that FCA CEO Mike Manley has spoken highly of. Among the list of obvious benefits in a potential merger, FCA would get access to Peugeot's small, modern platforms, $10.2 billion in cash, and electrified and hybrid architecture developments, the latter especially important to FCA as those are fields where it lags. Peugeot would get much easier access to the U.S. market, and the money-printing brands Jeep and Ram. A merged carmaker would have combined sales of nearly 9 million a year, based on 2018 results. By comparison, both Volkswagen and Toyota sell over 10 million cars a year, while the Renault-Nissan-Mitsubishi alliance almost 11 million. Peugeot CEO Carlos Tavares has proved he knows how to do turnarounds and mergers. After leaving a position as Carlos Ghosn's right-hand man in 2012, Tavares took over Peugeot in 2014, navigated a bailout from the French government and China's Dongfeng Motors in 2015, and turned PSA into a regional powerhouse.

Tesla Model S P85D shows 707-hp Dodge Challenger Hellcat how to drag race

Street Car Drags hosted a bang-up event at the Palm Beach International Raceway last weekend, with a list of massive horsepower ICE cars going up against one another and a trio of Tesla Model S P85Ds. One of those duels pitted the 691-horsepower Tesla against a 707-horsepower Dodge Challenger SRT Hellcat, and the result was an old-school beatdown and a world record for electric cars. The Model S P85D ran the quarter in 11.6 seconds at 114.6 miles per hour, the new mark for BEVs at the drag strip. Proving its pace, it ran three more times in 11.69, 11.72 and 11.76 seconds. It got from the start line to 60 miles per hour in 3.1 seconds. The Hellcat, well, it wasn't a race, really. It was the Hellcat's driver's first time at a drag strip and his first time trying to launch it, so after an excellent burnout ahead of the lights, he rolled to the line, almost jumped the start, balked at the real start and spun his tires for the first 100 feet down the strip. The theory is that he overheated his street tires during that burnout, and the resulting greasy rubber did what greasy rubber does. By the time he got to the other end 17.46 seconds later the Tesla driver had showered and was enjoying a funnel cake. When things go right, though, Dodge estimates the Hellcat will do 11.2-second runs on street tires and it has been clocked at 10.85 seconds at 126.18 mph on street-legal drag radials. There's video of the not-quite-a-race above, and Drag Times says there'll be a rematch between the two in a couple of weeks. News Source: Street Car Drags via YouTube Green Motorsports Dodge Tesla Coupe Electric Luxury Performance Videos Sedan drag racing dodge challenger srt hellcat

Dodge Challenger SRT Hellcat #0001 raises $825,000 for charity

$60,000 doesn't strike us as a lot to pay for a muscle car with 707 horsepower on tap. $825,000... now that's a different story. But, according to the official SRT blog, that's how much one generous and eager buyer paid for the privilege of getting his (or her) hands on the very first new Dodge Challenger SRT Hellcat.
Decked out in Stryker Red paint that's usually reserved for the Viper, the supercharged Challenger bearing the VIN 0001 went up for auction at the Mandalay Bay hotel and casino in Las Vegas on Saturday under the auspices of Barrett-Jackson. By the time bidding ended, the gavel dropped at $825,000 - nearly 14 times the sticker price - 100 percent of which will benefit Opportunity Vehicle, a charity that aids the intellectually handicapped in the Las Vegas Area.