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FCA withdraws its offer to merge with Renault

UPDATE: Fiat Chrysler Automobiles released a statement confirming that it has withdrawn its merger offer, saying "it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully." The full statement can be read below our original story, which continues below. Fiat Chrysler has withdrawn its $35 billion merger offer for Renault, the Wall Street Journal and Bloomberg News reported on Wednesday. A source said that FCA had informed Renault it had withdrawn the offer after Renault's board of directors failed to reach a decision on the merger during a meeting that ran late into the night Wednesday. Instead, the board granted the French government's request to postpone its vote. The government wanted time to persuade Renault's reticent alliance partner Nissan. Renault's board issued a press release that said simply that it was "unable to take a decision due to the request expressed by the representatives of the French State to postpone the vote to a later Council." WSJ reported that Nissan's two members on Renault's board were balking, while the rest of the board favored the merger. The French government wouldn't it back the deal unless Nissan agreed to maintain its role in the Renault-Nissan alliance, sources said. Nissan had received little advance warning of the merger proposal and was balking. Apparently the French government thought Nissan could be brought around if given more time. "We should take our time to make sure that things are done well," French Finance Minister Bruno Le Maire told French television on Wednesday. When the French requested a delay and Renault's board granted it, FCA withdrew. The French state, which owns 15% of Renault, had also been seeking more influence over the merged company, firmer job guarantees and improved terms for Renault shareholders in return for blessing the $35 billion tie-up. The merger would have created the world's third-biggest automaker with combined sales of 8.7 million vehicles per year, and was intended to cut costs as the parties develop electric and autonomous vehicles. Read Fiat Chrysler Automobile's full statement below: FCA withdraws merger proposal to Groupe Renault June 5, 2019 , London - IMPORTANT NOTICE The Board of Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA), meeting this evening under the Chairmanship of John Elkann, has resolved to withdraw with immediate effect its merger proposal made to Groupe Renault.

Self-driving Mitsubishis could use adapted missile technology

Mitsubishi is a big company made up of many different divisions and subsidiaries. Yeah, we tend to focus on Mitsubishi Motors, but the sprawling company also manufactures steel, builds televisions – we all knew someone in the 1990s with a hulking Mitsubishi "big screen" – and even screws together fighter jets and the missiles they carry. According to a report from Automotive News Europe, Mitsubishi Motors is hoping to leverage the capabilities of its sister companies to catch up to the competition and get driverless cars on the road by 2020. That means adapting millimeter-wave radars, sensors, and cameras built for missiles to automotive uses. As Mitsubishi sees it, having the development work done on this tech – albeit for a radically different application – gives it a big advantage over the competition. "All we have to do is to put together the components that we already have," Katsumi Adachi, the chief engineer for Mitsu's auto equipment division, told ANE. "None of our competitors have such a wide array of capabilities." As ANE goes on to explain with the help of Tokyo-based IHS analyst Goro Tanamachi, this is no plug-and-play application. That's largely because of the different economics of the automotive and defense industries. In the former, the bean counters have a tremendous say. There are cuts and cost reductions and all sorts of other stuff designed to maximize profit margins. The defense industry, though, is the land of sparing no expense – that, according to Tanamachi-san, could make adapting missile tech to autonomous vehicles a possible, but potentially very pricey proposition. "Cost-cutting requests are much more severe in autos than aerospace," Tanamachi-san told ANE. "I wonder if it's possible for them to bring down the cost of the systems to the levels manufacturers can use for cheap, low-end cars." Related Video: X

Compact SUV Comparison: Specs, pics and reviews of every brand's crossover

Honda CR-V vs Toyota RAV4. Chevy Equinox vs Ford Escape. Mazda CX-5 vs Subaru Forester. Whichever combinations of compact crossover SUV you're considering, there's probably a comparison test or chart out there to read. Heck, you can even create a three-car comparison yourself here at Autoblog. However, if you want a bunch of that information all in one convenient place, well, here it is. Our mega comparison of specs, features and photos of compact SUV entries from every mainstream manufacturer that sells them. That includes the 2018 Chevrolet Equinox, 2018 Ford Escape, 2018 GMC Terrain, 2018 Honda CR-V, 2018 Hyundai Tucson, 2019 Jeep Cherokee (it's already on sale with notable changes from 2018), 2018 Jeep Compass, 2018 Kia Sportage, 2018 Mazda CX-5, 2018 Mitsubishi Eclipse Cross (none of Mitsu's SUVs are perfect fits for this segment, so we deemed the MEC the most competitive fit), 2018 Nissan Rogue, 2018 Subaru Forester, 2018 Toyota RAV4 and 2018 Volkswagen Tiguan. We can update this comparison as more information about 2019 models is released, most notably the Forester and RAV4. Now, there are certainly some models that are smaller (Nissan Rogue Sport) or larger (Kia Sorento) that could also be considered, but we figured it was wise to stick with those in this sweet spot of comparable size and price. We also included links to Autoblog reviews, buying guides and smaller comparisons. Engines and Transmissions With rare exception, this segment features four-cylinder power. Sometimes it's turbocharged, often its not, but standard engine outputs are generally in the same ballpark. Therefore, we'd recommend focusing on torque output, as it's what will make a difference around town or when passing, and weighing that versus fuel economy (the Chevy Equinox, GMC Terrain, Honda CR-V and Mazda CX-5 make particularly strong cases in this regard). Many drivers aren't too fond of continuously variable transmissions (CVT), either, so that's another thing to consider and note during a test drive. As you can see, several models are available with performance upgrades. Besides the Jeep Cherokee's available V6, all are more powerful turbocharged four-cylinder engines. The exception to this would be the Honda CR-V and Ford Escape, as their 1.5-liter turbo engines don't prioritize performance. Instead, they serve as overall upgrades to the base naturally aspirated engines standard on only their base trim levels (CR-V LX and Escape S).