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Watch as U.S. auto industry springs back to life after lockdown

WARREN, Michigan — The Detroit Three automakers and their suppliers began restarting assembly lines on Monday after a two-month coronavirus lockdown in a slow revival of a sector that employs nearly 1 million people in the United States. On a chilly and damp Monday morning, hundreds of workers at Fiat Chrysler Automobile's (FCA) truck plant in Warren, Michigan, began lining up before 4 a.m. to start the 5 a.m. shift. Signs overhead read: "Let's restart." "I'm a little nervous," said Larry Smith, 53, of New Baltimore, who works on wheel alignment away from the assembly line. "They made all the precautions (and) they've done everything they can to prepare us ... I'm trusting in God." Detroit automakers on Monday said there were no issues with absenteeism as the plants opened. FCA reopened four U.S. assembly plants on Monday, including Warren Truck, on a single shift, as well as four parts plants. The reopening of car plants will be a closely watched test of whether workers across a range of U.S. industries can return to factories in large numbers without a resurgence of infections. General Motors Co, Ford Motor Co and FCA have all been preparing for weeks to reopen their North American factories in a push to restart work in an industry that accounts for about 6% of U.S. economic activity. Investors welcomed the gradual restart, sending GM's shares up more than 9% on Monday. FCA shares rose 7.3%, while Ford's were up 6.7%. Auto companies have redesigned assembly lines and retrained workers in an effort to avoid coronavirus outbreaks that could derail production again. Workers entering factories on Monday were checked by temperature monitors. Face masks or shields are standard protective equipment. Jobs such as installing seat belts that used to require two or more workers to get close together inside a vehicle have been redesigned to keep people a safe distance apart. Plastic screens have been installed along assembly lines to separate workers leaning in to the engine compartments of vehicles. Break areas have been reconfigured to keep workers six feet apart. The Detroit automakers have collaborated with each other and with the United Auto Workers to develop common coronavirus safety practices. Other automakers in the United States are adopting similar safety measures.

Fiat Chrysler shares get a boost after revised Stellantis merger deal with PSA

MILAN — Shares in Fiat Chrysler (FCA) rose sharply in Milan on Tuesday after the car maker and French partner PSA revised the terms of their merger deal, with FCA's shareholders getting a smaller cash payout but a stake in another business. FCA and PSA, which last year agreed to merge to give birth to Stellantis, the world's fourth largest car manufacturer, said late on Monday they had amended the accord to conserve cash and better face the COVID-19 challenge to the auto sector. Milan-listed shares in Fiat Chrysler rose almost 8% by 1000 GMT, while PSA gained 1.5%. Under the revised terms, FCA will cut from 5.5 billion euros ($6.5 billion) to 2.9 billion euros the cash portion of a special dividend its shareholders are set to receive on conclusion of the merger. However, PSA will for its part delay the planned spinoff of its 46% stake in car parts maker Faurecia until after the deal is finalized. That means all Stellantis shareholders — and not just the current PSA investors - will get shares in a company which has a market value of 5.8 billion euros. Based on Stellantis' 50-50 ownership structure, FCA and PSA respective shareholders will each receive a 23% stake in Faurecia. Analysts welcomed the 2.6 billion euros in additional liquidity for Stellantis' balance sheet as well as the increase in projected synergies to more than 5 billion euros from 3.7 billion. There was also further reassurance as the two companies confirmed they expected the deal to close by the end of the first quarter of 2021. "All told, the two players emerge as winners," broker ODDO BHF said in a note. "Of the two, FCA might be a bit more of a winner in the short term given the structure of the deal and the numerous payouts to shareholders to come in the quarters ahead (potentially close to 5 billion euros versus the current capitalization of around 16 billion euros)." The special dividend for FCA shareholders had proved contentious after Italy offered state guarantees for a 6.3 billion euro loan to the company's Italian business. "These announcements should, at last, end the debate over the financial terms of the merger, which had become a big topic and was still penalizing the two groups' share performances," ODDO BHF said. PSA and FCA said they would consider paying out 500 million euros to shareholders in each firm before closing or else a 1 billion euro payout to Stellantis shareholders afterwards, depending on market conditions and company performance and outlook.

FCA's puzzling trademark spree includes Apache and Orange Peelz

Here's one for the Mystery Machine. As noted by the WagoneerFans forum and picked up by Motor1, Fiat Chrysler recently went on a one-day trademark application spree at the U.S. Patent and Trademark Office. On March 6, the automaker applied for the names Apache, Farout, Orange Peelz, Shocker, Tomahawk, and Top Dog. All have been requested for "Land vehicles, namely, passenger automobiles," and the best guess so far has them being applied to concepts during next month's Easter Jeep Safari, which, assuming it goes ahead, will happen April 4-20. As for historical ties, one name has a connection to Dodge, another was a codename for a Dodge engine, and one was used on a previous Easter Jeep Safari concept. Tomahawk rings the loudest bell, that name applied to the four-wheeled, Viper-engined concept motorcycle that Dodge rolled out at the 2003 Detroit Auto Show. The company supposedly sold nine examples of the "rolling sculpture" through Neiman Marcus over a four-year period. It doesn't appear FCA has used the name since, internally or otherwise. There is, however, a Cherokee tomahawk — not referring to a Jeep, but the light, short-handled ax used by the Native American Cherokee tribe. This one seems made for Safari use. Apache has a Dodge and a Jeep tie-in. At one time, Apache was the codename for the 6.4-liter Hemi V8 marketed as the 392 V8 on the Charger and Challenger R/T Scat Pack trims. That engine makes 485 horsepower and 475 pound-feet of torque. But Jeep showed a Wrangler Apache concept (pictured) at the 2012 Easter Jeep Safari, built with a Mopar conversion kit for a 6.4-liter Hemi making 470 hp and 470 lb-ft. Mopar sold the V8 swap kits at least through 2016, but they appear to have fallen off the Mopar menu. At one time there were rumors of a supercharged Apache with more than 600 horsepower, and wouldn't that be a welcome surprise in Moab. The Farout could be a more or less extreme overlanding take on last year's Easter Jeep Safari Wayout concept, depending on whether one considers "way" or "far" more radical. The Shocker, Jeep might be disappointed to discover, already has an outside link in the Jeep Shocker stickers made for Wichita State fans who love America's 4x4. As for Orange Peelz, it's pretty close to Pedro's bicycling degreaser called Oranj Peelz, but a Jeep conception could be anything. Except maybe a paint color. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.