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Fiat Chrysler open to mergers, and PSA is looking for one

GENEVA — Fiat Chrysler (FCA) is open to pursuing alliances and merger opportunities if they make sense, but a sale of its luxury brand Maserati is not an option, Chief Executive Mike Manley said on Tuesday. "We have a strong independent future, but if there is a partnership, a relationship or a merger which strengthens that future, I will look at that," Manley told reporters at the Geneva Motor Show. Asked whether he would consider selling Maserati to China's Geely Automobile Holdings, as suggested by recent media reports, Manley said: "Maserati is one of our really beautiful brands and it has an incredibly bright future. ... No." FCA is often cited as a possible merger candidate. Bloomberg said this week that the Italian-American carmaker was attractive to France's PSA Group given its exposure to the U.S. market and its popular Jeep brand. The Detroit News' headline on the situation Friday read, "Fiat Chrysler CEO open to a deal as PSA circles" and stated that Manley's open-to-just-about-anything comments were aimed directly at PSA. Bloomberg said talks between the two were preliminary and said PSA chief Carlos Tavares has also contemplated mergers with General Motors or Jaguar Land Rover, which is losing money for Indian owner Tata. PSA has enjoyed a decade of turnaround and has $10.2 billion in net cash available. The maker of Peugeot, Citroen and DS, acquired Opel and Vauxhall in 2017 and made them almost instantly profitable. Manley, who took over after the death of Sergio Marchionne, said he currently had no news on possible deals. Manley also said the world's seventh-largest carmaker, which is lagging rivals in developing hybrid and electric vehicles, would take the least costly approach to comply with increasingly more stringent European emissions regulations. "There are three options. You can sell enough electrified vehicles to balance your fleet. Two: You can be part of a pooling scheme. Three is to pay the fines," he said. "I don't see a scenario when (carmakers) continue to subsidize technologies ... indefinitely." The carmaker had said last June it would invest 9 billion euros ($10.19 billion) over the next five years to introduce hybrid and electric cars across all regions to be fully compliant with emissions regulations. Asked about a 5-billion-euro investment plan for Italy FCA announced in November but then put under review, Manley said the plan had been confirmed as originally presented.

Gio Ponti's '50s-era Linea Diamante is a brand new old car

Art Basel has grown to expansive levels in the past decade. The historic global modern and contemporary art tour has integrated itself in automotive culture through various initiatives such as its partnership with BMW. But for those who are interested strictly in the relationship between automobiles and art and design, there is a different Basel: Grand Basel, a new show launched this year in Switzerland. There, alongside automobiles of timeless importance, a never-realized car design from the '50s debuted for the first time. That car is the Linea Diamante, which roughly translates to Diamond Line. The design was originally conceptualized in 1952 by Gio Ponti and Alberto Rosselli for Carrozzeria Touring. It was intended for an Alfa Romeo 1900 chassis, yet looked nothing like any Alfa, or any other vehicle, of the time. Grand Basel describes itself as a place where "the finest automobiles of the past, present, and future are discussed in the cultural context of art, design, architecture, and lifestyle." In that vein, the Linea Diamante is now viewed as a design far ahead of its time. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. With a shape similar to that of a Saab 900, which didn't debut until the late '70s, the Linea looked nothing like the over-stylized bubbly curvaceous designs of the '50s. Hoping to oppose the less practical car bodies that created large cavernous interiors, Ponti set out to craft a suit that isolated passengers from the outside less. The result is a boxy vehicle with a wide-open cabin. The panels are flat, the nose is low, the greenhouse is upright and tall, and the rear angles straight down like a hatchback. Though it was an eyesore to many at the time, the design created better visibility, an airy-feeling cabin, and maintained practical space. The rear seats are even adjustable, an unheard-of feature for the period. It is also on this car that Ponti formed a relationship with Pirelli (he later designed the Pirelli Tower in Milan). Furthering the futuristic premise of the vehicle, the Linea had a wrap-around rubber bumper with spring-mounted pieces at the front and rear for extra safety in the event of an accident. As a nod to this collaboration, Pirelli provided the tires for the modern replica. When Carrozzeria Touring turned the wild concept down, Ponti turned to Fiat, but the design was thought to be too outrageous.

Trump is pleased with FCA's investment in Michigan and Ohio, but it wasn't done for him

Fiat Chrysler announced yesterday that it would be spending $1 billion on vehicle production in both Michigan and Ohio. The company estimates that its investment will yield about 2,000 jobs between both states. In addition to attracting our attention, it caught the gaze of President-elect Donald Trump, who tweeted praise to both FCA and the Ford Motor Company. He praised the latter for the company's move to cancel a new factory in Mexico. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Trump's writing also seems to imply he deserves a certain amount of credit for these shifts to American production. However, as Sergio Marchionne, CEO of FCA, explained to the press in a conference today, Trump and his impending administration had nothing to do with the decision. He said the decision to invest in the plants in Michigan and Ohio were in place well before Trump was going to be the President of the United States. In addition, he said that FCA has not been in contact with Trump or any of his colleagues regarding the decision. Marchionne also stated that neither he nor the company was making any preemptive plans for manufacturing locations the light of the upcoming Trump presidency. Rather, he said that the company will change to address regulations that are actually passed, and the only way the company could change plans ahead of new laws or taxes would be with more information and clarity. We assume that a "big border tax" isn't specific enough. Still, the fact that automakers are going out of their way to make and clarify announcements about manufacturing illustrates the massive attention Trump brings with every Tweet. Related Video: Government/Legal Plants/Manufacturing Detroit Auto Show Chrysler Fiat Sergio Marchionne FCA 2017 Detroit Auto Show