2015 Fiat 500e Battery Electric Hatchback on 2040-cars

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India's classic Premier Padmini taxi killed by emissions laws

As part of an eco-conscious measure to fight pollution in 2008, the government in Mumbai, Maharashtra, India, banned all taxis 25 years and older. In 2013, that was changed to 20 years old. With each ruling, thousands of Premier Padmini taxis, an iconic car that transported the people of Mubai for decades, have disappeared from the roads. At the end of 2019, it was estimated that about 50 late-year Padminis were still driving, and in 2020, the survivors will cruise their last rides. An article from NPR explores the vehicle's history and the impact it had on the region's culture. The Padmini's origins begin in the '60s in the form of a Fiat 1100D, also known as a Delight 1100. The Fiat model served as the base for what first debuted as the Premier President from Premier Automobiles. It was later renamed the Premier Padmini after a famous Indian royal.  The car became extremely popular and sales shot up as it became the taxi of choice. Officials estimate roughly 60,000 Padminis were in Mumbai at the car's peak. Unfortunately, an open market and an influx of modern cars in the '90s doomed the black and yellow taxi, and production ended in 2000. Their last month to drive is June 2020. As the car becomes more myth than tangible reality, some artists have dedicated their works to honoring a vehicle that serviced millions of people from numerous generations. Check out the full article on NPR.   This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Fiat recalls nearly 30,000 Fiat 500L models

Fiat has announced a recall of 29,500 Fiat 500L hatchbacks in the US and Canadian markets due to concerns that the roomiest member of the Fiat range features knee airbags that won't deploy unless the occupant's seatbelt is fastened.
There have been no injuries reported due to this issue, which affects vehicles from model years 2014 and 2015. Of the nearly 30,000 vehicles covered in this recall, 25,500 come from the US market, while the remaining 4,000 are from Canada. It's not clear what the underlying cause of this issue is.
Fiat knows of no injuries relating to this problem. As per usual, owners will be notified and asked to report in for a free repair.

Fiat Chrysler agrees to new $3.8 billion credit facility with banks

MILAN — Fiat Chrysler said on Thursday it has agreed a new credit facility with two banks, at a time when major carmakers are having to shut down plants, losing revenue as demand slumps in the wake of the coronavirus. Most of FCA's plants around the world are currently shut in response to the virus emergency. Italian investment firm Exor, which controls FCA, said on Wednesday that the temporary closures might continue and increase depending on how the coronavirus outbreak develops. FCA said the credit facility would be available "for general corporate purposes and for working capital needs" of the group and that it was structured as a "bridge facility" to support its access to capital markets. "This transaction confirms the continued strong support of FCA's international key relationship banks in the current extraordinary circumstances," the automaker said in a statement, without making any explicit link between the new facility and the impact the virus is having on the global economy. The facility can be drawn in a single tranche of 3.5 billion euros ($3.8 billion), with an initial 12-month term which can be extended for further six months. It adds to existing credit facilities worth 7.7 billion euros, including lines for 1.5 billion euros that the company has started to draw down, FCA said. FCA is in merger talks with Peugeot owner PSA to create the world's fourth biggest carmaker. The deal is expected to be finalized by the first quarter of next year. Equita's analyst Martino De Ambroggi said that, based on his new assumption of a 10% drop of global auto market this year, the crisis triggered by the coronavirus would impact the merged automaker's free cash flow by over 5 billion euros. Earlier this week, General Motors announced it will draw about $16 billion from its credit lines in a bid to beef up liquidity amid rising business impact from the fast-spreading coronavirus outbreak. And last week, rival Ford abandoned its 2020 forecast and said it was drawing down $15.4 billion from two credit facilities to bolster its balance sheet. Related Video: