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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Highway To Hellcat: Dallas to Vegas with 2,000 HP

Fort Davis, TX. Early November. Late Sunday afternoon. The 1,200 residents of this small town are using their day of rest to quietly enjoy the breeze rolling off the hills. There's an older couple walking down the street, holding hands. A young lady working at a general store, where milkshakes and antacids are purchased at the same counter. It's a peaceful, quaint scene, right down to the tumbleweed rolling across the street and the rickety wooden porches outside the old storefronts. I hit the throttle of the 2015 Dodge Charger SRT Hellcat while turning left onto the road leading toward the town square, sending the sedan's rear end swinging to the right with a few puffs of rubbery smoke. I coast down to the 25-mile-per-hour speed limit and spot the line of Challengers, Chargers, and Vipers in my rear-view mirror, the drivers all mimicking my quick jolt of enthusiasm before pulling up the reigns on their V8s and V10s and idling into Fort Davis. Our posse would roll some 5,000 horsepower of pure American muscle into that small Texas town that day. It was only the first stop on an epic journey that would take us from Dallas to Las Vegas, on a winding route down toward El Paso, up through New Mexico, Arizona, and finally north into Nevada, ending at the ritzy Palazzo casino and hotel on the Vegas strip. It was an opportunity to see parts of America I never knew existed, and a chance to bond with some American cars that until recently, I sort of failed to understand. And most importantly it was an opportunity to drive really, really hard. Charging Through Texas Unless you've driven across it, it's hard to understand the massive space that is Texas. In places, scanning 360 degrees of horizon reveals absolutely nothing. Nothing. On its own, driving from Dallas to El Paso covers some 630 miles. Veer south to Fort Davis and you'll add another 70 onto that, not including the 75-mile Davis Mountain Scenic Loop where I found bliss behind the wheel of this insanely powerful sedan. I always expected to like the Charger Hellcat – comfortable seating for four (five in a pinch), equipped with the latest tech, wrapped in a stylish yet muscular body, like a quarterback in a tux. And it moves. The supercharged 6.2-liter Hellcat V8 pumps out 707 horsepower and 650 pound-feet of torque, which makes for one quick sedan, especially considering its heft.

Dodge Charger Hellcat and Tesla Model S P85D in Motor Trend Head 2 Head battle

One has James Bond Mode, Insane Mode, Creep Mode, and, yes, Insane Creep Mode. The other has 707 horsepower and is a heck of a lot cheaper. But which one is the bigger American badass? We figure most people already have strong opinions on the Dodge Charger Hellcat and Tesla Model S P85D, and they aren't likely to be swayed too far in the opposite direction by another person's viewpoint. Still, we think you'll enjoy watching the video above. In it, Autoblog friend and Motor Trend "Head 2 Head" host Jonny Lieberman summons smoke, shares smiles, and spouts spiels about both cars, finally finding one just slightly more badass than the other. Which ridiculously ludicrous American sedan takes top honors? Watch above to find out. Related Gallery 2015 Dodge Charger SRT Hellcat View 142 Photos Related Gallery 2015 Tesla Model S P85D: Detroit 2015 View 18 Photos News Source: Motor Trend via YouTube Green Dodge Tesla Electric Performance Videos Sedan motor trend head 2 head dodge charger hellcat autoblog black