1968 Dodge Super Bee on 2040-cars

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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.

Dodge Charger Pursuit takes Tesla interior approach

A police car's computer is just as integral to its duties as a set of lights and sirens. The popular approach for these systems is to grab something like a Panasonic Toughbook laptop, add a big, bulky tray to hold it, and use this inelegant setup for running plates and doing all the other things a cop needs to do while on the road. The downside, besides simple aesthetics, is that this arrangement robs the officer's shotgun-riding partner from legroom. Dodge, though, has come up with a far more elegant and functional solution. Taking a page out of Tesla and Volvo's book, Dodge has replaced the five-inch UConnect display and laptop mount in the Charger Pursuit police car with an enormous 12.1-inch, portrait-format touchscreen display. Called, UConnect 12.1, the new system doesn't do away with the old fashioned computer outright. Instead it moves the bulky unit to the trunk, where it can connect to the display via an ethernet cable. This is good for multiple reasons. First, there are no pricey installation or upfitting charges, like there are for most laptop carriages. Secondly, the plug-and-play nature of the new UConnect system won't require the department to buy new laptops. And third, there's no need to retrain officers, since the only thing that's really changing is the input. While the Charger Pursuit will continue to offer redundant audio and HVAC controls, the 12.1-inch display can, at the press of a "button" split to display Fiat Chrysler's familiar 8.4-inch display. Make one more tap on the screen, and the police-issue laptop can be managed through the full touchscreen. The touchscreen will also display a menu bar at the top of the page, which can easily be edited by officers. All it takes is a simple drag and drop from the application menu to the top of the display. According to Dodge, the touchscreen will even play nice when its operator is wearing gloves. "As America's high-performance police vehicle, Dodge Charger Pursuit is going big for 2016, offering a massive, Uconnect touchscreen system that streamlines a law enforcement officer's computer system with our easy-to-use Uconnect system – on an all-new laptop-sized 12.1-inch touchscreen display," said Tim Kuniskis, Dodge and SRT's president and CEO.

Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.