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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Wild-looking Opel Rocks e-Xtreme looks ready to survive the apocalypse

The tiny Citroen Ami has spawned a diverse selection of offshoots since it made its debut in 2020. The latest addition to the list is the Opel Rocks e-Xtreme, which was created by an industrial design student named Lukas Wenzhofer as part of a contest organized by the brand. Built by Opel using Wenzhofer's 3D model as a starting point, the Rocks e-Xtreme seemingly keeps the regular-production model's body but the similarities largely end there. Wenzhofer added massive wheel arch flares that wouldn't look out of place on an Arctic-bound pickup, alloy wheels that stick out even further than the flares, and an external roll cage with auxiliary lights. The finishing touch is out back, where the Rocks e-Xtreme gets a massive carbon fiber rear wing that was previously fitted to an Opel Vectra GTS V8 race car built in the 2000s. While the German company evidently had a spare Vectra spoiler laying around, it didn't have a spare Vectra V8 engine. It doesn't sound like the Rocks e-Xtreme's specifications sheet looks any different than the standard vehicle's, meaning power comes from an electric motor that draws electricity from a 5.5-kilowatt-hour lithium-ion battery pack to zap the front wheels with 8 horsepower. It has a 0-60 time of never, its top speed checks in at around 28 mph, and it offers a maximum driving range of about 43 miles, which is fine considering the Rocks isn't really a car. It's considered a quadricycle in most European countries, so it's not allowed to go on the highway. Don't expect to see the Opel Rocks e-Xtreme zig-zagging across a historic city center the next time you travel to Europe. Opel stresses that it built the model as a one-off, and nothing suggests the concept will reach production. However, some slightly tamer Ami variants have been let loose in the wild, including a limited-edition beach-friendly model called My Ami Buggy and Fiat's doorless, heritage-inspired Topolino. Related video: Featured Gallery Opel Rocks e-Xtreme concept Green Opel NEV (Neighborhood Electric Vehicle) Concept Cars Electric

2015 Opel Corsa hatches slinky new style

Opel's slinky answer to the Ford Fiesta and Volkswagen Polo debuted on Thursday at the Paris Motor Show, ahead of its launch in European markets late this year. The long-running Corsa - 32 years and counting - getting its first major refresh in eight years.
Opel dialed up the design for the 2015 Corsa, and the new front end has chiseled headlights with LED daytime runners, a trapezoidal grille and a prominent Opel badge. In back, there are wide split taillights and sculpted fenders. The Corsa will come in three- and five-door configurations.
The Corsa will offer a wide range of engines, including a three-cylinder, two four-cylinders and a diesel. Opel markets the Corsa for young families, and pricing starts around 11,980 euros, or about $15,000, in Germany.