2004 Jeep Grand Cherokee Laredo on 2040-cars

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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.

Jeep recalls 228k Cherokees over airbag deployment fears

Jeep is recalling an estimated 228,181 examples of the 2014 and 2015 Jeep Cherokee worldwide because the airbags can inadvertently deploy in some situations. Specifically, the campaign covers 168,092 vehicles in the US, 19,557 in Canada, 4,133 in Mexico and 36,399 outside of North America. According to Jeep, the problem occurs when drivers execute extremely hard handling maneuvers and upset the vehicle's balance, which causes the side-curtain and seat-mounted side airbags to deploy. "The air-bag systems, sensing potential rollovers, automatically activated," according to the automaker's announcement. While this occurred in "a small number" of cases, according to Jeep, the problem caused no reported injuries or accidents. To fix the fault, the company will issue a software update to recalibrate the bags' deployment. Statement: Restraint-System Software Upgrade February 2, 2015 , Auburn Hills, Mich. - FCA US LLC is launching a global recall of an estimated 228,181 SUVs to upgrade software governing side-curtain and seat-mounted side air bags. The action follows an investigation by FCA US engineers after a small number of inadvertent deployments involving drivers who executed extreme maneuvers. These maneuvers dramatically changed the vehicles' angle of operation, relative to the ground. The air-bag systems, sensing potential rollovers, automatically activated. FCA US is unaware of any related injuries or accidents. The software upgrade will recalibrate the threshold for deployment and the vehicles will remain compliant with all applicable safety regulations. Affected are certain 2014 and 2015 Jeep Cherokees. Estimated volumes by market are as follows: 168,092 in the U.S.; 19,557 in Canada; 4,133 in Mexico and 36,399 outside the NAFTA region. The Company will notify affected customers. Software will be available at that time. Customers with additional concerns or questions may call 1-800-853-1403. Featured Gallery 2015 Jeep Cherokee View 41 Photos News Source: FCA USImage Credit: Jeep Recalls Jeep Safety Crossover

Stellantis to offer electric versions of most of its European lineup by 2025

Newly merged automaker conglomerate Stellantis will offer electric versions of almost all of its European lineup by 2025, it said on Thursday, as the auto industry faces regulatory pushes in Europe and China to accelerate the shift to zero-emission cars. Formed in January by the merger of France's PSA and Italian-American group Fiat Chrysler, Stellantis is the world’s fourth largest carmaker with 14 brands including Opel, Jeep, Ram and Maserati, and like its peers faces an investor community keen for a road map to an electric lineup to rival Tesla . Speaking during Stellantis' first annual shareholders meeting, Chief Executive Carlos Tavares said that in 2021 the carmaker expects sales of electrified vehicles — that is, both plug-in hybrids and fully electric models — to more than triple to over 400,000 units in 2021. By 2025, electrified vehicles should make up 38% of European sales, a huge jump from the 14% of sales it expects in 2021. Tavares said by 2030 electric models should make up 70% of European sales and 35% of U.S. sales. He said Stellantis will use four electric platforms for passenger vehicles across its 14-brand empire — small, medium and large sizes for cars, and "frame" for high-margin SUVs and pickup trucks. Sweden's Volvo said this month its lineup would be fully electric by 2030, and Ford Motor Co said in February its lineup in Europe would be too. BMW has said at least 50% of its car sales should be fully-electric models by 2030. Sales of electric and plug-in hybrid cars in the European Union almost trebled to over 1 million vehicles last year, accounting for more than 10% of overall sales. Green Alfa Romeo Fiat Jeep Maserati Citroen Lancia Opel Peugeot Vauxhall Electric Hybrid Stellantis