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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

Dodge Hellcats getting price hike

Dodge plans twice as many Hellcats on the road for the 2016 model year, they are going to be a bit more expensive when buyers sign on the dotted line. According to CarsDirect and confirmed to Autoblog by Dodge, 2016 Challenger SRT Hellcat costs $65,190, an increase of $4,200 over 2015. That figure includes $995 for destination and $1,700 for the Gas Guzzler charge. The latest Charger SRT Hellcat retails for $68,640, a $3,650 increase. Other SRT trims of the muscle cars also see a price hike. The 2016 Challenger SRT 392 is $51,190, after destination and a $1,000 guzzler charger – a $3,500 increase. The Charger SRT 392 also jumps $3,000, to $51,990. Even at 2015's prices, Dodge was having problems keeping up with demand for the Hellcat, and the higher price isn't likely to change that. And before you think the company is going plum crazy, the 2016 models of all four muscle cars come standard with Laguna leather seats and navigation. According to company spokesperson Dan Reid to Autoblog, both items had a "very high customer take rate," and the previously optional features are valued at $2,490. Dodge previously announced a discount for those who had a sold 2015 Hellcat order canceled in the switch to 2016. Those amount to $5,000 on the Challenger and $4,000 Charger, which seems like a sweet deal for those customers. Related Video:

Germany threatens to ban FCA vehicles over diesel emissions dispute

Germany is threatening to ban sales of FCA products over diesel emissions. According to the newspaper Bild Am Sonntag, Germany's Federal Motor Transport Authority found evidence of a so-called defeat device that shuts down certain emissions controls after running for 22 minutes. A standard diesel emissions test in the European Union reportedly takes 20 minutes to complete. FCA denies the allegations. "We believe all our vehicles respect EU emissions standards and we believe Italian regulators are the competent authority to evaluate this," the company said in a statement. The latter part of that statement drew ire from German authorities, especially after FCA declined to meet with German transport minister Alexander Dobrindt to discuss the issue. Graziano Delrio, the Italian Minister of Infrastructure and Transport, vowed to work with German authorities on behalf of FCA. According to EU law, FCA is required to homologate its vehicles in Italy because that's where its regional operations are based. When will the diesel-scented soap opera end? We wish we knew, but our Magic 8 Ball is covered in soot. Related Video: News Source: Financial TimesImage Credit: Giuseppe Aresu/Bloomberg via Getty Government/Legal Green Chrysler Dodge Fiat Jeep RAM Emissions Diesel Vehicles FCA