Fiat 500 on 2040-cars

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Stellantis lays off salaried workers, cites uncertainty in EV transition

DETROIT — Jeep maker Stellantis is laying off about 400 white-collar workers in the U.S. as it deals with the transition from combustion engines to electric vehicles. The company formed in the 2021 merger between PSA Peugeot and Fiat Chrysler said the workers are mainly in engineering, technology and software at the headquarters and technical center in Auburn Hills, Michigan, north of Detroit. Affected workers were notified starting Friday morning. “As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure,” the company said in a prepared statement Friday. The cuts, effective March 31, amount to about 2% of Stellantis' U.S. workforce in engineering, technology and software, the statement said. Workers will get a separation package and transition help, the company said. “While we understand this is difficult news, these actions will better align resources while preserving the critical skills needed to protect our competitive advantage as we remain laser focused on implementing our EV product offensive,” the statement said. CEO Carlos Tavares repeatedly has said that electric vehicles cost 40% more to make than those that run on gasoline, and that the company will have to cut costs to make EVs affordable for the middle class. He has said the company is continually looking for ways to be more efficient. U.S. electric vehicle sales grew 47% last year to a record 1.19 million as EV market share rose from 5.8% in 2022 to 7.6%. But sales growth slowed toward the end of the year. In December, they rose 34%. Stellantis plans to launch 18 new electric vehicles this year, eight of those in North America, increasing its global EV offerings by 60%. But Tavares told reporters during earnings calls last month that “the job is not done” until prices on electric vehicles come down to the level of combustion engines — something that Chinese manufacturers are already able to achieve through lower labor costs. “The Chinese offensive is possibly the biggest risk that companies like Tesla and ourselves are facing right now,Â’Â’ Tavares told reporters. “We have to work very, very hard to make sure that we bring out consumers better offerings than the Chinese.

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.

Fiat reveals updated 500 overseas

See that Fiat 500 up above and in the rather large accompanying gallery? Look closer. It's new, or at least pretty comprehensively refreshed. The biggest updates that Fiat has grafted into its diminutive 500 hatchback are under the skin and inside its interior. Perhaps the most notable update is the inclusion of a proper infotainment system with a five-inch display, in this case, the well-received Uconnect tech borrowed from its corporate siblings under the Chrysler umbrella. In Europe, the refreshed Fiat 500 will launch with a 0.9-liter TwinAir engine with either 85 or 105 horsepower. A 1.2-liter engine with 69 horsepower will also be on offer, and an ultra-low emissions version of that engine will join a 1.3-liter 16v Multijet II turbocharged diesel unit that grunts out 95 horsepower sometime after, in certain markets. On the outside, the most notable updates are redesigned lighting clusters front and rear, but there are detail enhancements elsewhere, including to the hood and a new beltline that appears to sweep upward as it moves forward. We suggest you see for yourself in our high-res image gallery above, and if you want all the details, to read through the press release below. Keep in mind, this is all for Europe, so we'll just have to wait and see how many of these updates we get Stateside. NEW FIAT 500 REVEALED - New FIAT 500 unveiled with new exterior and interior style - Highlights include revised front designed with new headlamps, grills, chrome brightwork and LED daytime running lights - Rear enhancements include innovative new 'empty' light clusters - Interior revisions include new Uconnect™ infotainment systems, enhanced comfort and numerous detail improvements - Engine range enhanced for more efficiency and eco-friendliness - High standard safety specification includes seven airbags and a full suite of active safety systems - On Sale in September priced from GBP10,890 In Brief July 4 has always been a red-letter date for the FIAT 500. A symbol of mass motorisation in Italy, of which almost 3.8 million were sold, the original FIAT 500 was introduced on this day in 1957. Exactly fifty years later, on July 4 2007, FIAT chose to celebrate that heritage by introducing the New FIAT 500, a car which embodied the same spirit and personality as the original and which has also enjoyed phenomenal success all over the world.