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Dongfeng and PSA extend Chinese joint venture

BEIJING/PARIS — China's Dongfeng and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles (FCA). Dongfeng said on Thursday it had agreed with PSA to extend the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). Under the deal, the venture could get the rights to PSA's new brands in China and will benefit from new technologies and intellectual properties, the Chinese company said. PSA was not immediately available for comment. The announcement comes a day after the companies said Dongfeng would reduce its 12.2% stake in PSA by selling 30.7 million shares to the French company. Analysts said the move could smooth U.S. regulatory approval for PSA's roughly $50 billion (GBP38.97 billion) merger with Italian-American carmaker FCA. The sale of Dongfeng's shares in PSA, worth around 680 million euros ($757 million), will leave the Chinese group holding around 4.5% of the merged PSA-FCA, which is set to become the world's fourth-biggest carmaker by sales volumes. "As the cooperation between Dongfeng and PSA deepens, we expect the joint venture to continue making good progress in China," a Dongfeng representative said. On a conference call, Dongfeng said DPCA would have exclusive rights to PSA's Opel cars should the partners agree to bring the brand to China, and enjoy lower prices on car parts imported from PSA. Earlier this year, a document seen by Reuters showed Dongfeng and PSA plan to cut jobs at Wuhan-based DPCA and reduce its number of car plants to try to make the venture more profitable. Chrysler Dodge Fiat Jeep RAM Citroen Peugeot China FCA PSA Dongfeng

Chrysler defies NHTSA, says it won't recall 2.7M Jeep Grand Cherokee, Liberty models

Facing a possible recall totaling around 2.7 million of its most popular SUVs, Chrysler remains insistent that the 1993-2004 Jeep Grand Cherokee and 2002-2007 Jeep Liberty are safe vehicles. This comes on the heels of a recall request from the National Highway Traffic Safety Administration for these two models due to fuel tanks mounted behind the rear axle, which could possibly be ruptured during severe rear-end collisions, leading to an increased risk of fire. In response to the allegations, Chrysler says that it does not agree with NHTSA nor does it plan on recalling either vehicle.
Chrysler said both SUVs "met and exceeded" the requirements for fuel-system integrity, and cooperated fully with NHTSA since the investigation was opened in 2010. While 15 deaths and 46 injuries have been reported from fires caused by rear-end collisions on these models, Chrysler is claiming that the vast majority of incidents cited by NHTSA were "high-energy crashes," including one where a stopped Grand Cherokee was rear-ended by a tractor trailer going 65 miles per hour.
The automaker wraps up by saying "NHTSA seems to be holding Chrysler Group to a new standard for fuel tank integrity that does not exist now and did not exist when the Jeep vehicles were manufactured." Scroll down for Chrysler's official response to NHTSA, but we're pretty sure this isn't the last we've heard on this issue.

Chrysler recalls 468,700 Jeep Grand Cherokees, Commanders over rollaway risk

Chrysler has issued a recall covering a combined 469,000 units of the 2005-2010 Jeep Grand Cherokee and the 2006-2010 Jeep Commander (inset). Of that number, 295,000 are in the US, roughly 33,000 in Canada and Mexico and the remainder in other markets. It seems an electrical fault in the transfer case can allow the affected SUVs to shift into neutral on their own, while an Associated Press report says that Chrysler had "found cracks in a circuit board that turns the four-wheel-drive system on and off." The issue was discovered when an owner started his car remotely and it rolled away.
Chrysler is expected to begin notifying owners in June 2013, who can then take their cars to dealers. The dealer will reflash the final drive controller free of charge. There's a bulletin from the National Highway Traffic Safety Administration below with more information.