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Fiat Chrysler and PSA boards sign off on merger

MILAN — The boards of French carmaker PSA, the owner of Peugeot, and Fiat Chrysler in separate meetings on Tuesday approved a binding agreement for a $50 billion merger, sources said. The two midsized carmakers announced plans six weeks ago for a tie-up to create the world's No. 4 carmaker and reshape the global industry. A merger is seen helping them deal with big challenges in the industry, including a global downturn in demand and the need to develop costly cleaner cars to meet looming anti-pollution rules. Both companies declined to comment. A source close to FCA had said earlier the two companies could formally announce the agreement early on Wednesday, followed by a conference call to explain further details later in the day. China's Dongfeng Motor Group, which now has a 12.2% equity stake in PSA, will have a reduced stake of around 4.5% in the merged group, two sources said, in a move that could help make regulatory approval easier. According to the deal approved by PSA's board on Tuesday, FCA's robot unit, Comau, will remain within the combined group rather than be spun off as was originally planned in October, the sources said. The new group will evaluate how to extract value from Comau. Ahead of the meetings, entities representing the Peugeot family, Etablissements Peugeot Freres (EPF) and FFP, unanimously approved a proposed memorandum of understanding for the planned merger, a source familiar with the situation said. FCA and PSA are expected to finalise a deal by the end of 2020 to create a group with 8.7 million annual vehicle sales, a source said. That would put it fourth globally behind Volkswagen AG, Toyota and the Renault-Nissan alliance. It was only six months ago that FCA abandoned merger talks with PSA's French rival Renault. FCA would gain access to PSA's more modern vehicle platforms, helping it meet tough new emissions rules, while Europe-focused PSA would benefit from FCA's profitable U.S. business featuring brands such as Ram and Jeep. However, the deal could still face close regulatory scrutiny, while governments in Rome, Paris and unions are all likely to be wary about potential job losses from a combined workforce of around 400,000. PSA's Carlos Tavares will be chief executive and FCA's John Elkann — the scion of Italy's Agnelli family, which controls FCA through their holding company Exor — chairman of the combined company.

Jeepster name may be used for Fiat-based baby Jeep

In 1948, Willys-Overland, the forbearers of Jeep, built a vehicle called the Jeepster. It was a funky little thing, designed as a mix of the more rugged Jeeps that came before with what was then a modern car, which arguably makes it the world's first crossover. The name was later revived from 1966 to 1972, which means for Jeep enthusiasts, it has some history.
Now, the modern Jeep brand may revive the Jeepster name for a new product, likely based on Fiat bones, that will slot in at the bottom of the brand's range underneath the soon-to-depart Compass and Patriot. The report comes from Australia's Drive, which cites a dealer source that has seen the vehicle.
That same dealer confirmed there is a link between the Jeepster and the rumored Fiat 500X, and that the former will be available in both front and all-wheel-drive variants. The source also claims both gas and diesel engines will be available, although as this is an Aussie site, we shouldn't take that to mean we'll get a diesel Jeepster in the US.

Apple enthusiasts sleuth out some Project Titan details

With apologies to Tesla fans, there are, perhaps, no brand enthusiasts quite as enthusiastic as Apple enthusiasts. Every scrap of rumor, innuendo and speculation about the company and its endeavors gets thoroughly investigated, with the results promptly posted to the internet, frequently at the AppleInsider website. So, when news of the Cupertino corporation's Project Titan surfaced – deerstalkers were donned, secret sources tapped, and the game was afoot. So, what have they learned so far? A bit, it seems. Perhaps the most tangible nugget takes the unique shape of the Fiat 600 Multipla, pictured above. SixtyEight LLC, thought by AppleInsider to be the corporate sub-entity under which Project Titan is being conducted, imported a 1957 example of this unique bit of Italian automotive history. We don't know if the this "minivan-type" hauler of yore was brought stateside to serve as inspiration for a new design or whether it might end up being a whimsical technology demonstrator. Perhaps neither. We can only hope – or hope not, depending on how you view this variation of the 600 – that an Apple car will carry some Multipla DNA. What we can be pretty sure of is this: Apple enthusiasts will continue to seek out more clues about this program until it's completely revealed, officially or otherwise. You can read more on the Project Titan sleuthing discoveries here. Feel free, of course, to voice your opinions, clues and speculations in Comments below. Related Video: News Source: AppleInsiderImage Credit: Elmar Peiffer Green Rumormill Fiat Minivan/Van Electric project titan icar