1963 Fiat 1200 Spider on 2040-cars

Auto blog

Apple enthusiasts sleuth out some Project Titan details

With apologies to Tesla fans, there are, perhaps, no brand enthusiasts quite as enthusiastic as Apple enthusiasts. Every scrap of rumor, innuendo and speculation about the company and its endeavors gets thoroughly investigated, with the results promptly posted to the internet, frequently at the AppleInsider website. So, when news of the Cupertino corporation's Project Titan surfaced – deerstalkers were donned, secret sources tapped, and the game was afoot. So, what have they learned so far? A bit, it seems. Perhaps the most tangible nugget takes the unique shape of the Fiat 600 Multipla, pictured above. SixtyEight LLC, thought by AppleInsider to be the corporate sub-entity under which Project Titan is being conducted, imported a 1957 example of this unique bit of Italian automotive history. We don't know if the this "minivan-type" hauler of yore was brought stateside to serve as inspiration for a new design or whether it might end up being a whimsical technology demonstrator. Perhaps neither. We can only hope – or hope not, depending on how you view this variation of the 600 – that an Apple car will carry some Multipla DNA. What we can be pretty sure of is this: Apple enthusiasts will continue to seek out more clues about this program until it's completely revealed, officially or otherwise. You can read more on the Project Titan sleuthing discoveries here. Feel free, of course, to voice your opinions, clues and speculations in Comments below. Related Video: News Source: AppleInsiderImage Credit: Elmar Peiffer Green Rumormill Fiat Minivan/Van Electric project titan icar

Fiat board makes Chrysler merger official, approves $5.4B bond sale

Fiat's board of directors has officially approved the merger plan that will see the conglomerate's automotive operations merged with Chrysler into the new Fiat Chrysler Automobiles.
The plan essentially provides a road map for the structure of the new company. It includes provisions for Fiat shareholders - one Fiat share will translate to one share of FCA common stock. The new company will also include a loyalty voting structure, which will provide for shareholders of Fiat stock or those that have held FCA stock for at least three years. According to the plan, these shareholders would see their voting power double, with two votes for every share of FCA's common stock. The overall merger plan still needs to be approved by the company's shareholders.
In other Fiat-related news, the company's board has announced a bond issuance of four billion euro ($5.4 billion). The new bonds should provide the company with a degree of flexibility in refinancing debts associated with the merger plan.

Merged PSA and Fiat would retain all brands, Tavares says

By Elisa Anzolin and Gilles Guillaume PARIS/TURIN, Italy (Reuters) - Peugeot maker PSA Group and Fiat Chrysler would retain all of their car brands if their planned $50 billion merger goes ahead, the would-be chief executive of the combined group said on Friday. PSA CEO Carlos Tavares, seen as the architect of PSA's turnaround and in line to take the operational helm in the Fiat tie-up, said in a TV interview that the companies complemented each other well geographically and in terms of technology and brands. FCA derives 66% of its revenue from North America compared with only 5.7% for PSA, Refinitiv Eikon data shows. Europe remains the main revenue driver for PSA. "There's no doubt it's a very good deal for both parties. It's a win-win," Tavares told France's BFM Business, in his first interview since the French and Italian companies announced plans to create the world's fourth-largest auto maker last week. Fiat Chrysler (FCA) Chairman John Elkann, who would chair the combined group, said on Friday at an event in Turin that the 50-50 share merger would help the Italian carmaker "seize great opportunities." The deal, which would help the firms pool resources to meet tough new emissions rules and investments in electric and self-driving vehicles, as well as counter a broader downturn in car markers, is still at an early stage. PSA and Fiat have said they aim to reach a binding outline in the coming weeks, but still face questions over potential job losses, as well as scrutiny over whether the transaction favors one party more than the other. Tavares said the brands that would come under the combined group's umbrella — PSA's five passenger car nameplates include Citroen, Vauxhall and Opel, while FCA has nine, including Fiat, Alfa Romeo, Maserati, Chrysler, Dodge and Jeep — were all likely to survive. "As of today, I don't see any need to scrap any of the brands if the deal came to pass. They all have their history and their strengths," Tavares said. Few carmakers have as large a portfolio, with German rival Volkswagen Group counting 10 passenger brands, if newer Chinese ones such as electric vehicle label Sihao are included. The merger will also require approval from anti-trust authorities. Tavares said he did not expect the companies to have to make major concessions to meet competition rules, but added they were ready to do so, without giving details.