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Fiat Chrysler and Peugeot boards meet to finalize merger

MILAN/PARIS — The boards of Fiat Chrysler Automobiles and Peugeot will meet separately on Tuesday to discuss finalizing an initial agreement for a $50 billion merger to create the world's number four carmaker, sources said. A source close to FCA said the two companies could announce the signing of a binding memorandum early on Wednesday, followed by a conference call to explain further details later in the day. The two mid-sized carmakers announced plans six weeks ago for a tie-up to help them deal with big challenges in the industry, including a global demand downturn and the need to develop costly cleaner cars to meet looming anti-pollution rules. 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 have said they would seek to finalize a deal by year-end to create a group with 8.7 million in annual vehicle sales. That would put it fourth globally behind Volkswagen, Toyota and the Renault-Nissan alliance. 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. The group will include the Fiat, Jeep, Dodge, Ram, Chrysler, Alfa Romeo, Maserati, Peugeot, DS, Opel and Vauxhall brands, allowing it to serve mass and premium passenger car markets as well as those for trucks and light commercial vehicles. Related Video:       Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

Jeep pickup confirmed, will be built in Toledo

Finally. In 2011 Jeep CEO Mike Manley said, "It is too late in Wrangler's product cycle to add a pickup. The 2015 or 2016 time frame makes more sense," when the next-generation Wrangler is due. A year later, Manley told an Australian outlet that a decision on a Jeep with a bed would come "pretty soon." Now, The Detroit News reports that the decision has been made, and it's a "Yes."A Wrangler-based truck is expected to arrive in 2017, sometime after the launch of the next Wrangler. And it'll be built in Toledo next to its sibling. Those desperate for a carry-all Wrangler have been able to buy Mopar's JK8 conversion kit for the past four years. Frankly, even though the Jeep Gladiator concept (pictured) is now 11 years old and the JT concept is nine years old, we think either one of them could roll off the line in a year and be welcomed with hosannas. This year's New York Auto Show will also be the site of the reveal of the compact SUV that will slot in between the Renegade and the Cherokee, built on the Renegade/Fiat 500X platform and replacing both the Compass and Patriot. Derided by many, in the US the two aging CUVs still sell terrifically well - they both hit records here last year. One of them will live on in name, the new SUV to be called either Compass or Patriot; the former name is bigger in international markets, the latter name gets more recognition here. That show is when we'll also get Fiat Chrysler's updated five-year plan that will take us through the presumed end of CEO Sergio Marchionne's tenure at FCA. Related Video: Featured Gallery 2005 Jeep Gladiator Concept News Source: The Detroit News Jeep Truck Off-Road Vehicles jeep compass jeep patriot jeep wrangler pickup

FCA plants skipping summer shutdown to keep up with demand

Hopefully, some FCA US factory employees don't have big plans for the usual summer shutdown, because the automaker is keeping several plants running this year. Demand is so high that the company wants to keep models rolling off the assembly lines. Four FCA US assembly plants, all the engine factories, and some locations that build transmissions are staying open throughout the summer, according to the Detroit Free Press. Usually, these sites would see a two-week shutdown for the company to retool and perform repairs. This year, factories are staying open for FCA to support its strong sales. The lines that remaining humming through the summer show an inclination toward the automaker's popular SUV's and crossovers. They include the Jefferson North Assembly Plant in Michigan that builds the Jeep Grand Cherokee and Dodge Durango; Saltillo Van Assembly in Mexico that constructs the Ram ProMaster; Toledo Assembly Complex in Ohio that produces the Cherokee and Wrangler; and Toluca Assembly in Mexico that makes the Dodge Journey and Fiat 500. Related Video: News Source: The Detroit Free PressImage Credit: Bill Pugliano / Getty Images Plants/Manufacturing Dodge Fiat Jeep RAM FCA dodge journey fca us ram promaster Jefferson North Assembly Plant