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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

FCA CEO Mike Manley will take undefined new role after PSA merger

MILAN — Fiat Chrysler Chief Executive Mike Manley will remain with the new group set to result from a planned merger with French rival PSA-Peugeot, Chairman John Elkann said on Wednesday. In a letter to Fiat Chrysler (FCA) employees on the day the two companies announced a binding agreement for a $50 billion tie-up to create the world's fourth-largest carmaker, Elkann said he was "delighted" that the combined group would be led by current PSA CEO Carlos Tavares. "And Mike Manley, who has led FCA with huge energy, commitment and success over the past year, will be there alongside him," he said. He did not say what position Manley would hold. Elkann — who will chair the new group — said there was still much to be done to complete the merger. "Over the coming months we must work tirelessly and determinedly to fulfill all the approval requirements needed to finalize the commitment we have signed," he said. Related Video:     Hirings/Firings/Layoffs Chrysler Dodge Fiat Jeep RAM Citroen Peugeot FCA PSA merger Mike Manley carlos tavares

Dodge Hellcats change their stripes for 2016

If you've been on the fence about ordering up a new Dodge with Hellcat power, this might just provide the extra incentive you were looking for. Starting this month, Dodge is offering a new stripe option, exclusive to its most powerful muscle cars. The SRT Hellcat stripes are now available to order on the top-of-the-line, 707-horsepower versions of both the Charger and Challenger. The dual full-length stripes run all the way up from the front lip, over the grille, up the hood, accentuating the NACA duct, along the roof, down the trunklid, across the rear spoiler, and down the rear bumper. They feature a carbon-fiber texture, and can be ordered with any of eleven colors for an extra $995. Along with the stripes, Dodge has also announced that it is extending the availability of the exclusive Plum Crazy color – which was originally scheduled to expire at the end of December – for another month. The throwback hue can be ordered on Charger and Challenger models ranging from the SXT through the R/T models all the way up to the SRT 392 and Hellcat. 2016 CHALLENGER AND CHARGER SRT HELLCAT MODELS EARN EXCLUSIVE STRIPES, DODGE EXTENDS PLUM CRAZY PAINT - All-new SRT Hellcat dual exterior stripe design adds even more Dodge attitude to 2016 Challenger and Charger SRT Hellcat models - SRT Hellcat-exclusive dual full-length carbon-fiber pattern stripes provide a customized-from-the-factory look - Dealers will start taking orders for Hellcat stripes in January 2016 - SRT Hellcat dual stripes have a U.S. Manufacturer's Suggested Retail Price of $995 - Dodge is answering enthusiast demand for Plum Crazy exterior paint with an additional one-month run of the legendary and limited-edition high-impact hue January 8, 2016 , Auburn Hills, Mich. - For more than a year, Dodge Challenger and Charger SRT Hellcat models — the fastest and most powerful muscle cars ever with 707 supercharged HEMI® horsepower each — have stormed roadways and drag strips with acceleration blasts to 60 mph in the low 3-second range, generated more than 61 million sensational YouTube video views around the globe, enabled an entirely new generation of Dodge enthusiasts and now for 2016 have been rewarded with their very own Dodge performance stripes.