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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.

Cars.com runs 11-second quarter with Dodge Charger Hellcat

The Dodge Charger SRT Hellcat and its Challenger sibling are two of the heroes of the modern performance world. With a headline-grabbing 707 horsepower from a supercharged 6.2-liter V8, their output even shames many supercars. But how quick can one really cover a quarter mile? Cars.com recently decided to find out by taking a Charger Hellcat to the drag strip to see if the sedan lived up to Dodge's 11-second claims. The results were quite impressive. After 13 quarter-mile runs of adjusting variables like the tire pressures and the car's various electronic aids, the Charger Hellcat managed a pass in 11.03 seconds at 126.61 mph – the pinnacle result of the day. This car was mechanically stock and wore the optional Pirelli P Zero tires. According to Cars.com, other quick sprints reached 11.09 seconds and 11.1 seconds, which even beat the site's 11.41-second best from a Challenger Hellcat last year. Getting the Hellcat's prodigious power down without losing traction was a challenge, even on the summer tires. Cars.com thought it had a run that could have dropped below 11 seconds, but then the wheels spun. Using the factory-recommended pressures, the Charger Hellcat was no still slouch with an 11.27-second time recorded, but taking things down to 25 psi proved the quickest at the strip. We already knew that the Charger Hellcat was a wonderful vehicle for eating up huge gulps of asphalt at high speeds and could verify its 204-mile-per-hour top speed (quite a bit faster, incidentally, than the Ferrari California T's 196 mph top-speed). Apparently, the 11-second quarter-mile claim is just as accurate. Also, for any curious owners, the Cars.com story divulges many of the tweaks required to reach this seriously quick time. Related Video:

Autoblog Podcast #414

Episode #414 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Seyth Miersma discuss the new 2015 Shelby GT and go over the finer points of Elon Musk's recent speech during the Detroit Auto Show. Of course, the podcast starts with what's in the garage and finishes up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #414 Topics 2015 Shelby GT Elon Musk speech in Detroit In The Autoblog Garage 2015 Lexus LX 570 2015 Dodge Charger Pursuit 2015 Toyota Prius C 2015 Lincoln Navigator Hosts: Dan Roth, Steven Ewing, Seyth Miersma Runtime: 01:17:58 Rundown Intro and Garage - 00:00 2015 Shelby GT – 32:41 Elon Musk – 41:33 Q&A - 54:48 Get The Podcast UStream – Listen live on Mondays at 10 PM Eastern at UStream iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Podcasts Dodge Lexus Lincoln Toyota toyota prius c shelby lincoln navigator lexus lx