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FCA compromises with France, moving Renault merger bid forward

FRANKFURT/PARIS – Renault directors were preparing to review Fiat Chrysler's $35 billion merger offer on Tuesday, after the Italian-American carmaker resolved differences with the French government overnight, three sources said. The compromise on French government influence over a combined FCA-Renault may clear the way for Renault's board to approve a framework agreement beginning the long process of a full merger, unless new issues surface at the meeting. France, Renault's biggest shareholder with a 15% stake, had been pressing for its own guaranteed seat on the new board and an effective veto on CEO appointments. But after late-night talks with FCA Chairman John Elkann, the French government has accepted a compromise that would see it occupy one of four board seats allocated to Renault, balanced by four FCA appointees, the sources said. Renault would also cede one of its two seats on a four-member CEO nominations committee to the French state, they said. Renault, FCA and the French government all declined to comment on the discussions. The same evening that the compromise was was negotiated, activist hedge fund CIAM wrote to the board of Renault to say it "strongly opposed" a planned $35 billion merger with Fiat Chrysler. Calling the deal "opportunistic," the fund said the current deal terms strongly favored Fiat Chrysler and offered no control premium. (Reporting by Arno Schuetze and Laurence Frost; additional reporting by Giulio Piovaccari in Milan and Simon Jessop; editing by Jason Neely and Rachel Armstrong) Government/Legal Chrysler Fiat Mitsubishi Nissan Renault merger

Marchionne: Maserati to ‘switch all of its portfolio to electrification’  

After 2019, all Maseratis will be electrified, according to FCA CEO Sergio Marchionne. It's part of a larger electrification strategy from FCA as a whole, which intends to have half of its fleet electrified by the end of its five-year plan through 2022, Marchionne said. On an earnings call last week, he said: I'll give you a couple of broad sort of indications of where we are today in terms of the delineation of the post 2018 FCA. The first one and I've mentioned this in passing and other occasions about the fact that there's nothing that will prevent an OEM from engaging in the type of development work that Tesla has done so far. We have been – as you well know, we have been reluctant to embrace that avenue until we saw a clear – a path forward. I think we're now in a position to acknowledge at least one of our brands and in particular Maserati will, when it completes the development of its next two models effectively switch all of its portfolio to electrification. It's especially significant because of FCA's feet-dragging when it comes to offering hybrid and electric vehicles. As it currently stands, Fiat offers the 500e ­– of which Sergio Marchionne has said "I hope you don't buy it" because the company loses money on them — and Chrysler offers the Pacifica Hybrid minivan, which experienced significant launch delays. While diesel is an important part of the emissions strategy for 2020 standards in Europe, Marchionne said he thinks the current situation leaves diesel in a "weaker state" as a solution. Hence the electrification push. He said, "I think what has really made the issue absolutely mandatory now is the fate of diesel and the fact that it's actually the inclusion of, especially in Europe, of some type of electrification on gas engines is inevitable." In the short term, at least, it will put pressure on prices. Though Marchionne said he's "encouraged" by the direction of battery costs, he said, "I still think that there's going to be a huge increase in prices in 2021, 2022. If effectively the electrification becomes as widespread as people expect, there has to be a shift in pricing." He also says that FCA has no intention of making its own batteries. "Given the level of knowledge and depth of that knowledge that sits with other people in the industry, what right do I have to enter that space? None." We already know what the first two plug-in vehicles from Maserati will likely be. The company plans to launch an all-electric Alfieri in 2020.

2018 Chrysler Pacifica Hybrid Long-Term Update | Winter vacation

DESTIN, Fla. — You know you want a minivan. Wait, you say. That's not me. I'm not old enough. Or I don't have that many kids. Or ... No. You want a minivan. And after multiple family vacations and weekends in Autoblog's long-term 2018 Chrysler Pacifica Hybrid, I'm happy to explain why. Let's break it down. — The functionality is off-the-charts. From the multiple ways you can open and close the doors to the sheer volume of stuff you can load into them, minivans are leaders in user experience. — The cargo volume is immense and usable. We were able to simply pack up our lives and go to Destin, Fla., for a week on the Gulf. Two adults and a 1-year-old had plenty of space and creature comforts for the drive from Michigan. We moved the passenger seat forward so there was a mini pod in the second row where my wife and baby spent most of the time. During a brief spell from driving, I nestled back there for a bit, sipping coffee and playing cards on the seat-mounted entertainment screen. — In back, our manifest was prodigious. A cooler. A beach blanket. Beach chairs. Three large suitcases. A Pack 'n Play. A baby chair. Food. Boxes of wipes and diapers. A stroller. Beer and wine. Jellycat. Way more things that I've forgotten. It was also the maiden voyage for our Britax Boulevard ClickTight carseat, which fit securely. Installing a carseat easily is one of life's simple joys. The 2018 Pacifica Hybrid lists 197.3 cubic feet of cargo volume, and we used most of it. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. — We did have some space left over, which was actually more impressive to me. When three people can drive across the country with everything they need for a week and then wonder what else they maybe should bring, that speaks volumes (I know) to the usability of the cargo volume. On an earlier trip to Michigan's Upper Peninsula, we took all of this stuff plus a golden retriever, her crate, her food and camping gear. And still had room left over. — The Pacifica has a 24.3-inch lift-over height, which means it's easy to load. You can put the seats down and still reach far into the cargo hold. That's the beauty of minivans. Our family has a three-row SUV that you have to stretch to load and unload. We thought we wanted an SUV. We didn't realize we actually wanted a minivan. — And therein lies the inherent beauty of minivans.