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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

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2015 Ram ProMaster recalled for ignition switch issue

The Basics: Ram is recalling a total of 18,121 examples of the 2015 ProMaster with production dates between October 1, 2014, and June 17, 2015. These include 16,114 of them in the US, 1,498 in Canada, 503 in Mexico, and 6 outside the NAFTA region. The Problem: The ignition switch can intermittently lose electrical contact, and this can potentially cause the vans to stall. If the problem occurs, the vehicles might also lose functionality of the airbags, anti-lock brakes, electronic stability control, and instruments. Injuries/Deaths: None reported. The Fix: Dealers will replace the ignition-switch contact holder. If You Own One: FCA filed the recall with the National Highway Traffic Safety Administration on November 25, and it has 60 days to notify owners about the campaign under federal rules. Until the repair, the company says that turning the ignition off and then back on can fix this problem if the switch loses contact. RECALL Subject : Intermittent Loss of Ignition Switch Contact Report Receipt Date: NOV 25, 2015 NHTSA Campaign Number: 15V799000 Component(s): ELECTRICAL SYSTEM Potential Number of Units Affected: 16,114 All Products Associated with this Recall Vehicle Make Model Model Year(s) RAM PROMASTER 2015 Details Manufacturer: Chrysler (FCA US LLC) SUMMARY: Chrysler (FCA US LLC) is recalling certain model year 2015 Ram ProMaster vans manufactured October 1, 2014, to June 17, 2015. The affected vehicles have an ignition switch that may experience an intermittent loss of electrical contact. CONSEQUENCE: An intermittent loss of contact can result in a vehicle stall and/or a partial or complete loss of the air bags, anti-lock brakes, electronic stability control and/or instrument panel cluster. Loss of functionality of these systems may increase the risk of crash and/or increase the risk of injury in the event of a crash. REMEDY: Chrysler will notify owners, and dealers will replace the ignition switch contact holder block, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Chrysler customer service at 1-800-853-1403. Chrysler's number for this recall is R64. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. Statement: Ignition Contacts November 27, 2015 , Auburn Hills, Mich. - FCA US LLC is voluntarily recalling an estimated 16,114 full-size vans in the U.S.