2000 Dodge Ram 3500 Handicap Passenger Van on 2040-cars

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FCA CEO Mike Manley will take undefined new role after PSA merger

MILAN — Fiat Chrysler Chief Executive Mike Manley will remain with the new group set to result from a planned merger with French rival PSA-Peugeot, Chairman John Elkann said on Wednesday. In a letter to Fiat Chrysler (FCA) employees on the day the two companies announced a binding agreement for a $50 billion tie-up to create the world's fourth-largest carmaker, Elkann said he was "delighted" that the combined group would be led by current PSA CEO Carlos Tavares. "And Mike Manley, who has led FCA with huge energy, commitment and success over the past year, will be there alongside him," he said. He did not say what position Manley would hold. Elkann — who will chair the new group — said there was still much to be done to complete the merger. "Over the coming months we must work tirelessly and determinedly to fulfill all the approval requirements needed to finalize the commitment we have signed," he said. Related Video:     Hirings/Firings/Layoffs Chrysler Dodge Fiat Jeep RAM Citroen Peugeot FCA PSA merger Mike Manley carlos tavares

China's Great Wall confirms its interest — in Jeep, or all of FCA

HONG KONG/SHANGHAI — Chinese automaker Great Wall Motor reiterated its interest in Fiat Chrysler Automobiles NV on Tuesday, but said it had not held talks or signed a deal with executives at the Italian-American automaker. China's largest sport utility vehicle manufacturer made a direct overture to Fiat Chrysler on Monday, with an official saying the company was interested in all or part of FCA, owner of the Jeep and Ram truck brands. Automotive News first reported the news, quoting Great Wall Motor President Wang Fengying as saying she planned to contact FCA to discuss acquiring the Jeep brand specifically. Those comments sent FCA shares higher but also raised questions over the ability of China's seventh-largest automaker by sales to buy larger Western rival FCA, or even Jeep, which some analysts value at as much as one-and-a-half times FCA. Great Wall sought to dampen speculation on Tuesday. It confirmed it had studied Fiat Chrysler, but said there was "no concrete progress so far" and "substantial uncertainty" over whether it would eventually bid. "The company has not built any relationship with the directors of FCA nor has the company entered into any discussion or signed any agreements with any officer of FCA so far," the company said in an English-language stock exchange filing. It did not give further detail. Fiat Chrysler stock dipped on the statement on Tuesday. Great Wall said trading in its Shanghai-listed shares would resume on Wednesday after having been suspended. Fiat Chrysler declined to comment on Great Wall's statement. On Monday, it said it had not been approached and was fully committed to implementing its current business plan. FLUSHING OUT RIVALS? Great Wall Motor, which was early to spot China's love of SUVs, had revenue of $14.8 billion last year and sold 1.07 million vehicles - but that compares with FCA's 2016 revenue of 111 billion euros ($130.6 billion). Analysts said Great Wall would need to raise both debt and equity to complete any deal, meaning its chairman Wei Jianjun could lose majority control. One possible scenario, according to analysts at Jefferies, would see Wei keeping a roughly 30 percent stake, while Great Wall would raise $10-$14 billion in debt and $10 billion in equity - hefty for a group currently worth just $16 billion. Ultimately, politics could be the clincher.

Dodge Viper returning to Le Mans this year?

If you were among the fans disappointed by Chrysler's recent decision to end the Dodge Viper's racing program, we may have some good news for you, as the racing outfit behind the campaign is reportedly working to bring the American supercars back to Le Mans this year. That racing outfit is Riley Technologies, a constructor perhaps best known for its Daytona Prototypes, but it has also prepared its share of GT racers, too. Chrysler charged Riley with leading its racing program for the new Viper GTS-R, campaigned it in the United SportsCar Championship and the 24 Hours of Le Mans. Auburn Hills made the unfortunate decision back in March to pull its Vipers out of Le Mans, and then in October to withdraw from the US series, as well, thereby effectively ending the program altogether. Disappointed though it surely was, Riley remains defiant. The North Carolina-based company is planning on taking the existing Vipers back to Le Mans on its own, with or without factory support. The Viper has, after all, proven a capable machine, having taken both the drivers' and teams' titles in the United SportsCar Championship this past season. "With Le Mans, every driver and every manufacturer needs to have their first trip there, and it isn't always what you want it to be, but we did show reliability and did have some pace," Bill Riley told Racer.com. "Since then, we've worked hard on the cars, they're now strong, front-running cars in the US, and we're working with the ACO on the BoP to make sure the cars are strong at Le Mans. They're super-reliable and fast, and we'd expect to be right in the mix with the other cars." Riley has kept the existing support staff in place, and once it secures its driver lineup and sponsors, chances look good that it could represent America well at Le Mans this year in either the GTE Pro or GTE Am class. Its predecessor did, after all, complete a three-year winning streak that saw it dominate the GTS class right up until its withdrawal in 2000. News Source: Racer.comImage Credit: FCA Motorsports Dodge Coupe Racing Vehicles