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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.

Chrysler's mysterious limo spotted in trailer for new Wolverine movie

Way back in the warm, sunny days of June, we reported on a rather strange looking Chrysler-badged limousine spotted during filming for the latest installment in the Wolverine saga. Now, with the first trailer for Logan (or Wolverine 3, if you prefer its informal name) hitting the internet, we're getting another look at the odd limo, along with a few other offerings from Fiat Chrysler Automobiles. There's a flock of "Federal Police" Rams and a spinning, bluish-green Rebel – we're guessing Wolverine and Professor Xavier stole it from some kind of work crew – judging by the gold-ish decals on the door and the work box in the bed. Our look at the Chrysler limo isn't great, although it does appear in two scenes of the trailer. We're thinking these shots are connected, and here's why. Our first sighting comes in a cemetery, where the hulking limo sits in the background while Wolverine takes a pull from a pint of liquor. This scene ties in neatly with the images from June – we've embedded the tweet that posted the original shots at the bottom – which shows Wolverine wearing the same clothing. Comparing the shape of the limo's mirrors in June with a later scene in the trailer, we can safely say that Wolverine eventually ends up driving the limo, with a worried Professor Xavier in the backseat. While FCA hasn't been shy about wanting to hook up with Hollywood blockbusters, Logan is quite a lot different than Star Wars, Episode VII: The Force Awakens, or even Batman vs. Superman: Dawn of Justice. The tone of this entire trailer, from Johnny Cash's baleful cover of Nine Inch Nails' Hurt to the dire medical condition of Patrick Stewart's Professor Xavier, is depressing and emotional. That's a far cry from the super-successful superhero blockbusters that roll out of Marvel Studios every year. You can spot the exterior of the limo at 0:17, the interior at 1:03 (the scene is cut to make it look like Logan and Professor X are driving the Ram Rebel that appears at 1:02), and the police Rams at 0:48. Aside from the new FCAs, there's also a lovely first-gen Ford Bronco. Logan hits theaters on March 3, 2017. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video:

NHTSA investigating power modules on Chrysler Group SUVs and minivans

The Center for Auto Safety is officially petitioning the National Highway Traffic Safety Administration to begin scrutinizing alleged problems with the totally integrated power module (TIPM) on about 24 Chrysler Group SUVs and minivans. The advocacy group claims that the part's failure can cause affected vehicles to stall or not start at all. NHTSA is still looking into the accusations and deciding whether a full investigation is actually warranted.
The CAS petition claims at least 70 TIPM failures, but according to NHTSA, six of the complaints are for models that don't have the modules. In 34 of the reported cases, the vehicles refused to start, and in 17 of them the engine stalled. There were also two allegations of smoke and one of a fire. However, none of these affected airbag deployment or resulted in a crash.
This petition isn't the first TIPM-related problem for Chrysler Group. A recent report in the New York Times alleged that it found 240 complaints potentially related to the issue on NHTSA's website alone. In September, the automaker also recalled 230,760 examples worldwide (188,723 in the US) of the 2011 Jeep Grand Cherokee and Dodge Durango replace the fuel pump relay circuit inside of the TIPM-7 with one external to the unit. The original part could allegedly cause the models to stall without warning. Even earlier, the company also recalled about 80,000 examples of the Jeep Wrangler and Dodge Nitro in 2007 to have the module reprogrammed.