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FCA and PSA sign merger agreement

Confirming an earlier rumor, PSA Group and Fiat-Chrysler Automobiles (FCA) signed a binding merger agreement to create the world's fourth-largest automaker. The partners hope to leverage the benefits of economies of scale as they develop new technologies and expand their global presence. The announcement ends FCA's years-long search for a partner, which nearly ended earlier in 2019 when it came close to merging with Renault, PSA's rival. It brings Fiat, Chrysler, Dodge, Ram, Jeep, Alfa Romeo, Maserati, Lancia, Peugeot, Citroen, DS, and Opel/Vauxhall under the same roof. That's a huge portfolio of brands that often overlap, but executives pledged to keep them all open, as well as all their respective factories as a result of the transaction. They're committed to making this big family of automakers work by building on each one's strengths, whether they're technical or regional. FCA and PSA jointly predicted they'll sell about 8.7 million cars annually around the globe, while posting an ˆ11 billion (about $12.2 million) profit. North America, a strong market for FCA, will provide 43% of its revenues, and 46% will be generated in Europe, where Peugeot's brands are doing better than ever. Together, they plan to achieve ˆ3.7 billion (about $4.1 million) in annual run-rate synergies. They'll notably have the purchasing power to negotiate a better price with suppliers, and they'll merge their research and development efforts where it makes sense to do so. Over two thirds of the group's annual volume will be built on two shared platforms. One will underpin about three million small cars annually, and the other will serve as the foundation for approximately three million compact and mid-sized cars. Details about these architectures haven't been made public yet, but a quick look at both companies' product portfolios reveals the small car will very likely come from Peugeot. Recent additions to its range, like the second-generation 208, are built on a new architecture named Common Modular Platform (CMP) developed with electric powertrains in mind. Meanwhile, Fiat is still making the cheeky 500 on an evolution of the platform found under the second-generation Panda released in 2003. The bigger architecture could come from FCA, however. The group's brands will share engines, transmissions, electric powertrains, infotainment systems, various sensors used to power electronic driving aids, and other components like wiring looms, but each one will retain its own identity.

Stellantis will enter joint venture with Samsung SDI for EV batteries

SEOUL — South Korean battery maker Samsung SDI Co Ltd and global automaker Stellantis NV have agreed to jointly produce electric vehicle (EV) batteries for the North American market, a person familiar with the matter said on Tuesday. Samsung SDI, an affiliate of South Korean tech giant Samsung Electronics, already has EV battery plants in South Korea, China and Hungary, which supply customers such as BMW and Ford. "The two companies (Samsung SDI and Stellantis) have struck a MOU (memorandum of understanding) to produce EV batteries for North America," the person with knowledge of the matter told Reuters. The source spoke of condition of anonymity because of the sensitivity of the matter. The person said the location of the battery joint venture is under review and will be announced later. In July, Reuters reported that Samsung SDI may build a battery plant in the United States, citing a company source. South Korea's Yonhap news agency earlier reported the two companies plan to build a factory in the United States, citing industry sources. Samsung SDI and Stellantis did not have immediate comment when reached by Reuters. Stellantis on Monday struck a preliminary deal with battery maker South Korea's LG Energy Solution (LGES) to produce battery cells and modules for North America. Shares of Samsung SDI were up 2.6% as of 0300 GMT, versus a 0.6% rise in the KOSPI benchmark index. Related video: Green Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Maserati RAM Citroen Lancia Opel Peugeot Vauxhall

The Fiat 124 Spider configurator is live

Last week, Fiat released pricing on the new 124 Spider, and now the roadster's configurator is online. If you buy the Elaborazione Abarth version of the 124 ( elaborazione means 'processing,' which makes little sense to us), you'll probably be thinking about the leather/Alcantara Recaro seats. They're a $1,195 option that Mazda has no answer for on the MX-5 Miata, but adding them means making a big sacrifice, because you can't get the $3,995 Luxury Collection. The pricey package adds a range of desirable options, including leather (but not Recaro) sport seats, navigation, LED headlights, and a nine-speaker Bose stereo. So, you can either have all that good stuff, or you can get the Recaros. It's not an easy decision at all. The Abarth's other big package is the Safety and Comfort Collection. Its $1,495 price tag adds blind-spot monitoring with cross-traffic alert, rear parking sensors, heated exterior mirrors, and an auto-dimming interior mirror. You can only select this item if you go with the Recaros, since most of the stuff it adds comes with the Luxury Collection. Standalone options include a $1,495 set of Brembo brakes. The black hood decal, featured on both the Geneva and New York Auto Show cars, is conspicuous by its absence. The options lists are simpler for lesser 124 Spiders. The base Classica gets by with a $1,295 Technology Collection (seven-inch display audio, rear-view camera, and push-button start with keyless entry). The mid-range Lusso mirrors the Abarth's mutually exclusive packages, with an identical Safety and Comfort Pack. The $3,795 Premium Collection, meanwhile, offers all the same gear as the Luxury Collection for a little less money. Neither the Classica nor the Lusso offer standalone options. We promise the 124 Spider's configurator is better than whatever else you had planned for this Monday afternoon. Related Video: Related Gallery Abarth 124 Spider News Source: Fiat USAImage Credit: Fiat USA Auto News Fiat Car Buying Convertible Performance fiat 124 spider fiat 124 fiat 124 spider abarth