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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.

Chrysler says its 8-speed transmissions will save 700 million gallons

Chrysler Group's TorqueFlite eight-speed transmission could be earning some serious green bragging rights if the company's projections are correct. The recently widely proliferated automatic gearbox, which is now in more than a million vehicles around the world, is poised to save drivers an estimated 700+ million gallons of fuel over the vehicles' lifetimes (an expected cost savings of $2.5 billion). In addition, Chrysler expects a reduction in CO2 emissions by more than six million metric tons. According to Chrysler, and depending on the vehicle, the TorqueFlite can improve fuel economy. The TorqueFlite autobox features particularly close ratios from fifth to eighth gear (see the press release below for the specific numbers), and uses low-viscosity fluid that doesn't need to be replaced. Transmission software adapts to the driving situation to optimize efficiency based on driver behavior, temperature, grade, stability control, and longitudinal and lateral acceleration. The TorqueFlite is capable of handling a variety of duties. As evidenced by the wide range of vehicles Chrysler Group has seen fit to equip with the eight-speed transmission, the TorqueFlite is capable of handling a variety of duties. Since its 2012 introduction, the TorqueFlite has gone from performing cog-swapping duties in Dodge Charger and Chrysler 300 models equipped with the 3.6-liter Pentastar V6 to changing gears in vehicles such as the Pentastar- and Hemi-powered Dodge Durango, Jeep Grand Cherokee and even the Ram 1500 EcoDiesel. For the 2015 model year, the eight-speed is finding its way into even more vehicles with the addition of a third version. In addition to the American-made TorqueFlite 845RE and 8HP70, the new 8HP90 will be manufactured in Saarbrucken, Germany. The 8HP90 is designed for higher torque loads, making it ideal for high-performance vehicles like the 2015 Dodge Challenger SRT Hellcat. The already-in-use 8HP70 will expand its duties to be used in 2015 Hemi models such as the Dodge Charger, Challenger, and Challenger SRT8. You can see the list of those benchmarks in Chrysler's press release below.

Roadkill pits every project car against each other

The guys behind Motor Trend's monthly Roadkill series have collected nine of their favorite project cars from their videos and pitted them against each other in a battle royale to determine a winner. It's 44 minutes long, but it's completely worth the investment of time.
The cars run the gamut from a 1973 Chevrolet Ramp Truck, a 1975 AMC Pacer and a legitimately impressive 1967 Chevy Camaro, and they are pitted against each other to see which is the fastest around an autocross course. The drivers include Roadkill's two hosts and Motor Trend's Johnny Lieberman and Carlos Lago. It's reminiscent of the best episodes of Top Gear and worth a watch.
So it's the weekend - the perfect time to relax. Grab your preferred beverage, get comfortable and enjoy 44 minutes of some seriously ratty but utterly cool project cars as they are throttled within an inch of their lives (or past it). Scroll down to check out the video.