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Autoblog Minute: FCA unveils 4x4 all-weather drive cell

It's winter time any time at the FCA Tech Center as FCA unveils an all-weather 4x4 drive cell. Autoblog's Mylencia Gillenwaters and Eddie Sabatini report on this edition of Autoblog Minute. Show full video transcript text [00:00:00] It's winter time any time at the Chrysler Technical Center as FCA unveils a new all-weather 4x4 test site. I'm Mylencia Gillenwaters and this is your Autoblog Minute. FCA calls it their first 4x4 in drive dyno cell, with rain and snow testing capabilities. We sent Autoblog's Eddie Sabatini to Auburn Hills for a closer look at the $2.5-million investment: [00:00:30] [EDDIE SABATINI INTERVIEW] This 4x4 dyno adds to the FCA's already impressive 5.4-million square-foot research and development center. The Tech Center features some 14,000 employees, an aerodynamic test facility, and [00:01:00] hundreds of test sites that run 24/7. Truly making it an auto engineer's dream. For Autoblog, I'm Mylencia Gillenwaters. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. Chrysler Technology Autoblog Minute Videos Original Video engineering 4x4 research and development

Chrysler IPO to be filed as early as this week

An initial public offering for the Chrysler Group could happen this week, following Sergio Marchionne's comments to Financial Times in London, according to a report from The Detroit News. Fiat, which owns 58.5 percent of Chrysler, has been in a battle with the UAW retiree healthcare trust over its minority stake in the company. While the automotive union recognizes its role as a temporary shareholder, the two couldn't come to an agreement on how the shares should be priced.
As Marchionne explained to FT, a Chrysler IPO allows the market, rather than the two competing sides, to determine the value of the shares. The public offering is a risky move, which could potentially hang one side out to dry - if the shares go high, it's bad news for Fiat, but if they go low, the UAW stands to lose. Regardless of where the stock prices go in an IPO, though, it's a move that's being supported by analysts, who are quick to cite Chrysler's near-constant growth and a product lineup that is getting healthier with each new introduction.

Stellantis is official: FCA and PSA merger finally sealed

MILAN — Fiat Chrysler and PSA sealed their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. It took over a year for the Italian-American and French automakers to finalize the $52 billion deal, during which the global economy was upended by the COVID-19 pandemic. They first announced plans to merge in October 2019, to create a group with annual sales of around 8.1 million vehicles. "The merger between Peugeot S.A. and Fiat Chrysler Automobiles N.V. that will lead the path to the creation of Stellantis N.V. became effective today," the two automakers said in a statement. Shares in Stellantis, which will be headed by current PSA Chief Executive Carlos Tavares, will start trading in Milan and Paris on Monday, and in New York on Tuesday. Now analysts and investors are turning their focus to how Tavares plans to address the huge challenges facing the group – from excess production capacity to a woeful performance in China. Tavares will hold his first press conference as Stellantis CEO on Tuesday, after ringing NYSE's bell with Chairman John Elkann. FCA and PSA have said Stellantis can cut annual costs by over 5 billion euros ($6.1 billion) without plant closures, and investors will be keen for more details on how it will do this. Marco Santino, a partner at consultants Oliver Wyman, said he expected Tavares to disclose the outlines of his action plan soon, but without divulging too many details at first. "He has proven to be the kind of person who prefers action to words, so I don't think he will make loud statements or try to over-sell targets," he said. Like all global automakers, Stellantis needs to invest billions in the years ahead to transform its vehicle range for the electric era. But other pressing tasks loom, including reviving the group's lagging fortunes in China, rationalizing its huge global empire and addressing massive overcapacity. "It will be a step by step process, also to allow the market to better appreciate every single move. I don't think we will have all the details before one year," Santino said.