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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

McLaren, Koenigsegg, Toyota, Ford, Dodge and Corvette Lego kits announced for 2021

Lego has announced a slew of car-themed sets for 2021. The six kits comprise nine vehicles and fall under the brick pusher's Speed Champion line of official OEM-licensed kits. News of their arrival comes from German toy retailer JB Spielwaren's pre-order listings, which show three single-car sets and three dual-car sets of matched marques. Starting with the McLaren Elva roadster, the kit consists of 263 pieces and is finished in blue. It seems to have a difficult time capturing the curves of the real-life Elva, but there's only so much you can do with a bunch of plastic blocks. Lego has made several other McLaren kits before, including the Senna, 720S, and a more advanced Senna GTR for the Technics line. Next up is the Koenigsegg Jesko, made up of 280 pieces and finished in white. Though the real-life Jesko is still curvy, this kit does a better job of replicating its aggressive maw, vents and cantilevered rear wing. Rounding out the single-car sets is the 299-piece Toyota GR Supra in yellow. This marks the first time Toyota has lent their license to Lego. Again, it struggles a bit to represent the curvy Supra, relying on printed details like logos and headlights to identify. On the other hand, the Chevrolet two-car does a stupendous job with the 1968 Corvette. The C3 is instantly recognizable as such. The C8-R race car it's paired with suffers from the same issues as some of the previous cars, though. The set contains 512 pieces, and funnily enough the C8 driver has short hair while the C3 driver sports a period-correct wavy mane. The next set is a 627-piece Mopar-themed pair, including a purple (Plum Crazy?) 1970 Dodge Challenger T/A and an SRT top fuel dragster. The race car is spot on, but the Challenger was probably tough to make given the width restrictions. It looks a couple of pegs too narrow compared to the wide proportions of the real deal. Last but not least, the Ford set contains a Bronco R and Ford GT Heritage Edition. Consisting of 660 pieces, the set does an excellent job of representing both cars. The GT looks faithful in its Gulf livery, and the Bronco R looks more like a real Bronco than the actual Bronco R race truck. All in all, it's always fun to see more Lego sets with real cars, and we're glad to see more manufacturers added to the roster. The single-car sets are recommended for ages 7 and up, while the double-car sets have an 8 years and up rating. Price in U.S.

FCA updates 700k-vehicle recall to replace ignition switches

FCA US is revising a previously announced recall of 702,578 minivans and SUVs; now specifying that owners replace their ignition switches, rather than just a component. The campaign affects the 2008-2010 Chrysler Town & Country, 2008-2010 Dodge Grand Caravan and 2009-2010 Dodge Journey. The National Highway Traffic Safety Administration initially opened an investigation last summer following complaints about the ignition switches in these models. FCA US (then Chrysler Group) responded with a recall of 695,957 examples of these vehicles because the key could appear to be in the "Run" position but not be fully engaged. If it slipped out, and there was an accident, then the airbags might not deploy. The company had initially planned to install a new detent ring to fix the problem. According to the timeline in a NHTSA document (available here as a PDF), the government agency and FCA US continued their research into the problem. The automaker found that the time needed to create a new ring design and updated software would be longer than replacing the whole ignition switch. The company worked with the supplier Marquardt to negotiate an accelerated schedule to manufacture the extra replacement parts. According to NHTSA, the investigation has now been closed because of FCA's recall. Company spokesperson Eric Mayne confirms to Autoblog via email, "No additional vehicles are affected and all affected customers have already been made aware their vehicles are subject to recall." FCA US sent out an initial notification advising owners of the problem in September 2014. The company will now send out a second letter in April and will replace the parts in two phases. Repairs for affected models from the 2008 and 2009 model years will begin in April, and 2010 examples will start being fixed in August. RECALL Subject : Ignition Switch may Turn Off , 1 INVESTIGATION(S) Report Receipt Date: JUN 26, 2014 NHTSA Campaign Number: 14V373000 Component(s): AIR BAGS , ELECTRICAL SYSTEM Potential Number of Units Affected: 702,578 All Products Associated with this Recall Vehicle Make Model Model Year(s) CHRYSLER TOWN AND COUNTRY 2008-2010 DODGE GRAND CARAVAN 2008-2010 DODGE JOURNEY 2009-2010 Details Manufacturer: Chrysler Group LLC SUMMARY: This defect can affect the safe operation of the airbag system. Until this recall is performed, customers should remove all items from their key rings, leaving only the ignition key.