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Stellantis is official: FCA and PSA merger finally sealed
Sat, Jan 16 2021MILAN — 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.
Jeep Wrangler's shift to aluminum could see production leave Toledo
Mon, 06 Oct 2014The Jeep Wrangler may be a timeless design, but sooner or later, time will run out and Chrysler will have to replace it with a newer model more friendly towards the earth it's designed to traverse. That will, it seems, mean a shift to aluminum construction (whether just for the body or for the entire structure) - but what will that mean for the Wrangler's long-time home of Toledo, OH?
According to the latest pronouncements from Fiat Chrysler chief Sergio Marchionne, the shift to an aluminum Wrangler would likely mean moving production out of Toledo. "If the solution is aluminum," Marchionne told Automotive News, "then I think unfortunately Toledo is the wrong place, the wrong setup to try and build a Wrangler, because it requires a complete reconfiguring of the assets that would be cost-prohibitive."
Marchionne also indicated that, were Wrangler production to move elsewhere, it would find another line to take its place in Ohio. "One of the thing that we are dealing with now is what else we do with Toledo that fulfills our commitment to the city and to Ohio. I don't have a doubt that there will be zero impact on head count and employment levels and anything else." Jeep has built the Wrangler in Toledo since World War II, with the exception of six years starting in 1986 when it was built in Brampton, Ontario. The complex dates back to 1910 and currently produces the Wrangler and Cherokee. Past products have included the Wagoneer and Commanche as well as the Dodge Dakota and Nitro.
Off-roader plows through a deep bog like it was nothing
Wed, May 18 2016The Facebook page Jeeps With Attitude runs a weekly series called Too Deep Tuesday wherein they post videos of off-roaders running their rigs through bogs and mud holes of surprising depth and coming out the other side soggy but relatively unscathed. This week's video, in which a driver extracts a buried vehicle from the muddiest bog in the land, is the perfect mix of nutso bravery and off-road know-how. The video starts with the vehicle already sunk to its hood and listing to starboard in a deep, sticky bog. Slowly but surely, the vehicle creeps forward through the mud, pushing a heavy bow wave of muck and debris in front of it. Unlike other recent videos where jeep drivers lost their rides in the water and destroyed their expensive toys, this driver keeps his cool and with a steady foot on the accelerator and the help of a winch and a convenient tree, eventually emerges triumphant. What did he do right? Well, using the vehicle's winch to help pull the rig out of the mud was the big thing. Also, he kept his cool and, once committed, never hesitated or deviated from his chosen path. Gunning it blindly or backing up in that mess would have meant almost certain death for that vehicle, a lesson that the aforementioned Jeep drivers learned the hard way. Related Video: News Source: Facebook Weird Car News Jeep Driving Off-Road Vehicles Videos