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FCA-Renault merger faces tall odds delivering on cost-cutting promises

FRANKFURT/DETROIT — Fiat Chrysler Automobiles and Renault promise huge savings from a mega-merger, but such combinations face tall odds because of the industry's long product cycles and problems translating deal blueprints into real world success, industry veterans told Reuters. BMW's 1994 purchase of Rover, and Daimler's 1998 merger with Chrysler both made sense on paper. The companies promised to hike profits by combining vehicle platforms and engine families. Both combinations proved unworkable in reality, and were unwound. Renault and Nissan, which have been in an alliance since 1999 designed to share vehicle components, have only managed to use common vehicle platforms in 35% of Nissan's products despite an original target of 70%, according to Morgan Stanley. FCA and Renault have raised the stakes for themselves by ruling out plant closures. That increases the pressure to achieve more than $5 billion in promised annual savings from pooling procurement and research investments. The two companies have yet to fill in many of the blanks in the merger plan put forward by Fiat Chrysler. Renault's board is expected to act soon to accept the proposal, but that would lead only to a memorandum of understanding to pursue detailed operational and financial plans. A final deal and the legal combination of the two companies could take months to complete if all goes well. Pressure to cut automotive pollution is driving the latest round of consolidation. Automakers are looking at multibillion-dollar bills to develop electric and hybrid cars and cleaner internal combustion engines. Fiat Chrysler and Renault are betting they can design common electric vehicle systems, then sell more of them through their respective brands and dealer networks, cutting the cost per car. Developing all-new electric vehicles can bring more opportunities to share costs from the outset, industry experts said. "With the emergence of connected, autonomous, electric and shared vehicles, carmakers face immediate investments, so new opportunities for sharing costs have emerged," said Elmar Kades, managing director at Alix Partners. However, most electric vehicles lose money. This is a challenge for city car brands in Europe in particular. Both Renault and Fiat rely heavily on this segment for sales.

Elon Musk: Teslas will already know where we’re going

In the future, cars will drive us. And probably not surprisingly, they'll often know where to go without us even needing to tell them. That's the theme of a short back-and-forth conversation on Twitter recently between Tesla founder and CEO Elon Musk and a user who tagged him in a comment suggesting that "it would be cool" to be able to tell a car where to go. Responding to user James Harvey, Musk replied, "It won't even need to ask you most of the time." Later, after Harvey asked how the car would know where he wants to go, another user suggested that the car would know what time you go to work. "Yeah, don't exactly need to be Sherlock Holmes," Musk tweeted. It won't even need to ask you most of the time — Elon Musk (@elonmusk) October 21, 2017 Yeah, don't exactly need to be Sherlock Holmes. — Elon Musk (@elonmusk) October 21, 2017 That the ability to know where we're going will be part of our future driving experience shouldn't be surprising. After all, the smartphones we carry around already possess the ability to predict what we want — think Google's cleverness in tailoring search results or providing traffic information just before your commute, Facebook's highly customized News Feed content or even auto-fill technology, which can predict the words you're typing. And plenty of automakers have been touting their own work in developing in-car artificial intelligence systems. Like Audi's Elaine concept, which will be able to learn, think and even empathize with drivers. Or Mitsubishi's e-Evolution concept, which can not only assist your driving, but also assess your skills and teach you how to improve them. Tesla's vehicles, of course, are being outfitted with all the latest autonomous driver-assist technology, with the automaker eager to one day reach full Level 5 self-driving capability. According to Inc., Teslas will be able to listen and respond to directional commands, and they'll even have access to your calendar to comb for information about where you need to go. Tesla has also said it's developing an update to its Autopilot hardware and remains on track to achieve full Level 5 autonomous driving by the end of this year, which strikes a lot of people as wildly unrealistic. At any rate, the promise of cars knowing what time we're sneaking out to get donuts or picking up the kids is interesting, coming from the man who has warned that AI presents "a fundamental risk to the existence of human civilization."Related Video:

Mitsubishi bringing Concept XR-PHEV II to Geneva

Head to the Geneva Motor Show this year and you'll see what could very well be the next production Mitsubishi. Though dubbed a "concept," the XR-PHEV II is clearly closer to being ready for production than the first XR-PHEV concept it showcased in Toyko back in 2013. Spindly as they may be, this one actually has side mirrors, the bodywork is a little toned down compared to the previous concept, there are actual openings in the grille, and you can actually see what looks like a functional interior through the windows. Overall the shape of this urban crossover looks promising, reminding us a bit of the Lamborghini Urus concept crossed with a Lancer Evo. But at least as important is what's under the hood. That's where Mitsubishi has placed its latest plug-in hybrid powertrain. The system includes an electric motor good for 160 horsepower, juiced by a 12-kWh battery. Strangely, the Japanese automaker hasn't specified what it's mated to, exactly, except to say that it's a MIVEC engine – those being the letters Mitsubishi uses for its variable valve timing system and utilized on gasoline and diesel engines ranging from 1.0 to 3.8 liters and from three cylinders to six. The previous concept, however, utilized a 1.1-liter turbo three with 134 hp on tap. It looks like we'll have to wait closer to its debut for further details and photos, but for now you can scope out all there is to know so far in the press release below. MITSUBISHI MOTORS AT 2015 GENEVA INTERNATIONAL MOTORSHOW Feb 25, 2015 TOKYO - Mitsubishi Motors Corporation (MMC) will unveil the global debut of the Mitsubishi Concept XR-PHEV II[1] as well as the European premiere of the L200[2] pick-up truck at the 85th Geneva International Motor Show[3]. The Mitsubishi Concept XR-PHEV II is a small SUV powered by a new plug-in hybrid EV (PHEV) system and the all-new L200 is due to go on sale in Europe this summer. The Mitsubishi Concept XR-PHEV II is a small SUV concept expected to be MMC's second PHEV following the Outlander PHEV launched in the UK in April, 2014. The new PHEV system presented in the Mitsubishi Concept XR-PHEV II is a lightweight, compact and high-efficiency front-engine/front-drive system ideal for an urban crossover. The system is estimated to achieve very low CO2 emissions of below 40 g/km, among the lowest of any PHEV, while also delivering gutsy and smooth performance with excellent response with its 163PS electric motor.