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Marchionne ready to get tough with GM over merger

FCA CEO Sergio Marchionne absolutely refuses to let go of his dream of a merger with General Motors. With official discussions not happening, Marchionne now hints that a hostile takeover attempt of The General could be under consideration as a future strategy. In a massive interview with Automotive News, the boss explains why a tie-up with GM might be such a windfall for both automakers. By Marchionne's numbers, a merged GM-FCA would produce $30 billion a year in global earnings and 17 million vehicles annually. He claims these huge figures are based on analyzing plants around the world to find growth opportunities. So far, GM is refusing to sit down and look at the numbers, let alone even begin to negotiate. For now, Marchionne just wants to talk, but he's not against aggressive action, if necessary. He uses a bizarre metaphor in the interview to explain his feelings. "There are varying degrees of hugs. I can hug you nicely, I can hug you tightly, I can hug you like a bear, I can really hug you. Everything starts with physical contact," he said to Automotive News. "An attack on GM, properly structured, properly financed, it cannot be refused," he said in the interview. Marchionne is looking for partners, too. The UAW's significant stake in GM could be a strong ally, and he's reportedly recruiting activist investors for more help. Selling Magneti Marelli and spinning off Ferrari would put even more cash in the war chest. Both sides also have banks at their aid. While Marchionne received positive replies from some of his "Plan B" partners, he apparently lost interest in working with them. "Are they the people I wanted to get the response from? The answer is probably not. There are people who are interested in doing deals," he said in the interview. News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Photo Earnings/Financials Chrysler Fiat GM Sergio Marchionne FCA merger

Nissan is optimistic about FCA partnership, but wants the right terms

BEIJING – Nissan is optimistic about partnering with a combined Renault and Fiat Chrysler (FCA), as long as it can protect the ownership of technology developed over two decades of working with Renault, a senior executive told Reuters. The executive, who declined to be identified because he is not authorized to speak to the media, said he was cautiously optimistic about the possibility of generating "synergies" by sharing Nissan's autonomous drive know-how, electrification and greenhouse-gas-scrubbing technologies for powertrains. But he said the possible $35 billion merger of Renault and FCA would not give FCA the automatic right to use those technologies, which it needs to meet stringent emissions regulations and better compete in a industry being transformed by electric vehicles. He also floated the possibility that Nissan could look at boosting its stake in Renault, or a merged Renault-FCA, to gain more say in shaping the future of the alliance. "We would go ahead with partnering or cooperating with FCA only if we can guarantee tangible benefits from sharing technologies with FCA and only if we can work out conditions that are satisfactory to us," the Yokohama-based executive said. "If Renault wants to pursue this deal, we feel we need to look seriously at supporting them," he said. The executive's comments highlight how Nissan could look to leverage its advanced technology to gain greater bargaining power with a merged Renault-FCA. Renault is Nissan's top shareholder with a 43.4% shareholding, while Nissan holds a 15% non-voting stake in the French automaker. That unequal partnership has long rankled Nissan, which is the bigger company by far. A Nissan spokesman referred Reuters to a statement issued on Monday, where Nissan Chief Executive Hiroto Saikawa said: "I believe that the potential addition of FCA as a new member of the alliance could expand the playing field for collaboration and create new opportunities for further synergies." "That said, the proposal currently being discussed is a full merger which — if realized — would significantly alter the structure of our partner Renault. This would require a fundamental review of the existing relationship between Nissan and Renault," Saikawa said, adding that Nissan would analyze and consider its "existing contractual relationships". BOOSTING STAKE?

Second-generation Fiat 500 grows up, goes electric, gets posh

Going to the design well to reinvent an icon is difficult, especially when it's one of your greatest hits, so Fiat walked a thin line as it developed the first new 500 since 2007. Unveiled online, the hatchback is just as huggable as its predecessor — which is sticking around — and it honors tradition while embracing cutting-edge technology. Motorists long nourished on a diet of value-packed, bargain-priced Fiat models are in for a rude surprise. The new 500 rubs elbows with respected luxury cars, at least on paper, and it has morphed into more of an Instagram-friendly fashion statement than a genuine people's car. Stylists brought its retro-inspired design into the 2020s without completely reinventing it. It's still shaped like the 500 you're familiar with, though it's a little bit longer and wider than before and its wheelbase gains about an inch. Its front fascia wears a unmissable 500 emblem flanked by bright trim, its headlights are mounted higher and integrated into the hood, and its door handles are chiseled into the body. Out back, the vertical lights return with a more sculpted design. The line-up will ultimately include the quasi-convertible shown here, a hardtop, plus a wagon called Giardiniera and envisioned as a modern interpretation of the eponymous long-roof sold from the 1950s to the 1970s. Bigger changes welcome the passengers into the cabin. The driver sits behind a two-spoke steering wheel and a configurable, 7.0-inch digital instrument cluster, while a 10.25-inch touchscreen propped up on the dashboard displays a new version of the well-regarded Uconnect infotainment system. It looks decidedly more upmarket than the 500 it replaces, though it's difficult to tell without seeing in person and sitting in it — thanks, coronavirus. Fiat made the new 500 all electric, all the time. It's built on a 42-kilowatt-hour lithium-ion battery pack that zaps a 118-horsepower electric motor into motion. Its maximum driving range checks in at 199 miles, though the Italian firm obtained that figure by putting its city car through the optimistic WLTP testing cycle. It takes nine seconds to reach 62 mph from a stop, it has a 93-mph top speed, and plugging it into an 85-kilowatt charger fills 80% of the battery in 35 minutes. Alternatively, you'll need to wait 14 hours for a full charge if you plug it into the same household-spec outlet you use to keep your phone and your laptop juiced up.