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FCA revises Renault merger offer in a bid to persuade French government

PARIS – Fiat Chrysler is discussing a Renault special dividend and stronger job guarantees in a bid to persuade the French government to back its proposed merger between the carmakers, sources close to the discussions said. The improved offer, if formalized and accepted, would also see the combined company's operations headquartered in France and the French state granted a seat on its board, two people with knowledge of the matter told Reuters on Sunday. FCA spokeswoman Shawn Morgan declined to comment. The French government, Renault's biggest shareholder with a 15 percent stake, also declined to comment. A Renault spokesman did not return calls and messages seeking comment. Italian-American FCA is engaged in intensive discussions with Renault and the French government over the $35 billion merger proposal it pitched last Monday to create the world's third-biggest carmaker. The concessions being discussed are not definitive and depend on other aspects of an emerging compromise deal, both sources cautioned. They nonetheless increase the chances that the merger plan will be approved by Renault's board, on which the French state has two seats. The board meets again on Tuesday. Some analysts and French industry leaders had voiced doubts about the 5 billion euros ($5.6 billion) in claimed cost and investment savings, and whether the proposal represents a fair deal for Renault shareholders. A Renault dividend would improve the valuation in their favor, balancing a 2.5 billion euro proposed dividend to FCA shareholders. The sources did not elaborate on the potential size of a Renault payout. The merger plan presented on Monday would see the two carmakers acquired by a listed Dutch holding company whose ownership would be split equally between current FCA and Renault shareholders, after special dividend payments. FCA had proposed locating the combined group's operational head office in a neutral city, most likely London, but has now indicated readiness to base it in the greater Paris area, meeting a key French government demand, both sources said. The French government is also likely to be granted a seat on the board to reflect its 7.5 percent stake in the merged company, the people said. Nissan, whose matching 15 percent stake in its French alliance partner will also be diluted to 7.5 percent of the new group, receives a board seat under the plan unveiled on May 27.

Junkyard Gem: 1990 Plymouth Voyager Turbo

There was a time when the word "TURBO" was king, and even Detroit minivans came with nervous, hair-drier-boosted engines and screaming TURBO badging. Why, some of them even had manual transmissions (sadly, not this van) and in the case of the 1990 Plymouth Voyager Turbo I spotted in a Denver self-service wrecking yard, a lysergic purple paint plus a Bordello Red interior. The first-generation Voyager minivan (not to be confused with the full-sized B-series Voyager van that preceded it) was a tremendous smash hit for Chrysler. Because it came from the K-Car platform, most of the powertrain options available for other members of the many-branched K Family Tree— from the Mitsubishi Astron to the Chrysler turbo 2.5— went into the Voyagers, Caravans, and Town & Countries. The turbocharged 2.5-liter four, rated at 150 horsepower, was an option for the 1989 and 1990 Voyagers. That doesn't sound like much today, an era in which the Voyager's descendants churn out close to 300 horses, but it was lunacy for a front-wheel-drive family hauler that weighed just over 3,000 pounds. And people eventually discovered they could be made far faster than stock. Voyager shoppers could get five-speed manual transmissiona with their Turbo 2.5 engines, though few did. Still, there were more Voyagers and Caravans with the 5-speed than you might think, in part because of the manual transmission's lower cost. The slushbox didn't conquer the Chrysler Corporation Minivan World until 1996. Nissan probably had the most vividly red interiors of the late 1980s and early 1990s, but Chrysler didn't lag far behind. Look at these acres of shiny red plastic and tough, red I Can't Believe It's Not Velour! Because minivans remain useful for decades, most of them have high odometer readings by the time they get junked. So at a little over 115,000 miles, this one may have had a busted speedometer cable. Speedometers reading better than 85 mph were legal after 1981, but perhaps Chrysler decided not to encourage lead-footed hoonery among minivan drivers. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Auntie Entity pitching "the best-loved minivan in the world." Featured Gallery Junked 1990 Plymouth Voyager Turbo View 19 Photos Auto News Chrysler Dodge Automotive History Minivan/Van dodge caravan

Fiat seeking autonomous partnerships with Uber and Amazon

If Fiat Chrysler Automobiles CEO Sergio Marchionne can't find another automaker to partner with, he'll have to look elsewhere. Like, outside the traditional automotive industry entirely, if recent reports are to be believed. According to Bloomberg and Business Insider, Fiat is pursuing relationships with Uber and Amazon for self-driving vehicles. This news comes shortly after FCA announced an official tie-up with Google to turn 100 Chrysler Pacifica minivans into autonomobiles. Uber might want to venture into self-driven vehicles for its ride-hailing service, cutting out the expense of human drivers. For its part, Amazon could use autonomous vehicles for deliveries from its online shopping destinations. FCA's interest in these endeavors seems to revolve around their vehicles being used as platforms for software and bespoke hardware setups created by the tech companies. There's no indication of what vehicles FCA would provide to either Uber or Amazon, but something minivan shaped could capably serve both the ride-sharing and package delivery service industries. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Bloomberg, Business InsiderImage Credit: Jeff Kowalsky/Bloomberg via Getty Green Chrysler Fiat Transportation Alternatives Technology Emerging Technologies Autonomous Vehicles Uber Sergio Marchionne FCA Amazon