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Fiat Chrysler CEO says final merger talks with Peugeot going well

BRUSSELS — Fiat Chrysler's chief executive Michael Manley said on Wednesday that merger talks with Peugeot owner PSA  to create the world's No. 4 carmaker are progressing well and he hopes to have a deal within 12-14 months. Speaking to Reuters on the sidelines of an industry meeting, he said he doesn't expect any major obstacles that could delay a final agreement. "Talks are progressing really well," Manley said about negotiations with the French carmaker ahead of a briefing by the European automotive association (ACEA), of which he is president. His comments come a month after the two carmakers agreed to a binding deal worth about $50 billion to combine forces in response to a slowdown in global demand and mounting costs of making cleaner vehicles amid tighter emissions regulations. Manley's timeline for completing the deal by early 2021 is in line with a forecast made by the companies in December. Fiat and Peugeot are now getting into the details of how the merger will work, including choosing which vehicle platforms — the technological underpinnings of a vehicle — will fit which products in a combined company. Because customers in different locations still prefer vastly different cars, there is room for multiple platforms in a combined group, Manley said. "That global platform is an elusive beast," he added. "This concept of a massive global platform in my mind is almost a myth, but that doesnÂ’t mean to say weÂ’re not going to recruit significant volume." Related Video:    

Stellantis wants to outfit cars with AI software to drive revenue

MILAN — Carmaker Stellantis announced a strategy Tuesday to embed AI-enabled software in 34 million vehicles across its 14 brands, hoping the tech upgrade will help it bring in 20 billion euros ($22.6 billion) in annual revenue by 2030. CEO Carlos Tavares heralded the move as part of a strategy that would transform the car company into a “sustainable mobility tech company,” with business growth coming from features and services tied to the internet. That includes using voice commands to activate navigation, make payments and order products online. The company is expanding existing partnerships with BMW on partially automated driving, iPhone manufacturer Foxconn on customized cockpits and Waymo to push their autonomous driving work into light commercial vehicle delivery fleets. StellantisÂ’ embrace of artificial intelligence and expansion of software-enabled vehicles is part of a broad transformation in the auto industry, with a race toward more fully electric and hybrid propulsion systems, more autonomous driving features and increased connectivity in automobiles. Ford and General Motors also are banking on dramatically increased revenue from similar online subscription services. But the automakers face immense competition for monthly consumer spending from movie and music streaming services, news outlets, Amazon Prime and others. Stellantis, which was formed from the combination of PSA Peugeot and FCA Fiat Chrysler, said the software would seamlessly integrate into customers' lives, with the capability of live updates providing upgraded services over time. New products will include the possibility to subscribe to automated driving features, purchase usage-based car insurance or even increase the power of the vehicle with a tune-up to add horsepower. As a baseline, Stellantis generates 400 million euros in revenue on software-generated services installed in 12 million vehicles. To meet the targets, Stellantis will expand its software engineering team of 1,000 to 4,500 in North America, Asia and Europe. More than 1,000 of the expanded team will be retrained in house. Stellantis also announced a new partnership with Foxconn to develop semiconductors to cover 80% of the companyÂ’s needs and simplify the supply chain. The first microchips from the partnership are targeted to be installed in vehicles in 2024.

Fiat Chrysler Automobiles: The next five years

Unless you've been living under a rock for the past 24 hours, you've no doubt read about all of the big future product news coming out of Fiat Chrysler Automobiles today. We had individual brand reports from Chrysler, Dodge, Jeep, Ram, Alfa Romeo, Fiat, Maserati and even Ferrari, but in the interest of simplifying and summarizing, we're going to list out the hard facts once more. Of course, with all of this still off in the future, there's still the possibility that a few changes will be made. But as of what we know right now, here's what's coming, and what's going away.
Chrysler
2014: Refreshed 300/300C, debuting at Los Angeles Auto Show