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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Fiat Chrysler recalls 1.33 million vehicles over fire, air bag risks

WASHINGTON - Fiat Chrysler Automobiles NV said on Friday it is recalling 1.33 million vehicles worldwide in two separate campaigns for potential fire risks and inadvertent airbag deployments. The Italian-American automaker said it is recalling about 770,000 sport utility vehicles because of a wiring issue that may lead to inadvertent deployment of the driver-side air bag and is linked to reports of five related minor injuries, but no crashes. The company said wiring could chafe against pieces of steering-wheel trim, potentially causing a short-circuit and ultimately leading to an inadvertent air bag deployment. The issue could also cause unintended windshield wiper operation or inoperable switches. The recall covers 538,000 2011-2015 Dodge Journey vehicles in North America and 233,000 2011-2015 Fiat Freemont crossovers sold elsewhere. Dealers will inspect and replace the wiring, as needed and equip it with additional protective covering. The automaker is also recalling 565,000 vehicles to replace their alternators because of fire risks. The company said hot ambient temperatures could lead to premature diode wear, may result in a burning odor or smoke, could impact the anti-lock braking system or lead to engine stalls. The company said it is aware of two potentially related accidents but no injuries. The recall covers 2011-2014 model year Chrysler 300, Dodge Charger and Dodge Challenger cars and Dodge Durango SUVs and 2012-2014 Jeep Grand Cherokee SUVs. In October, Fiat Chrysler recalled about 86,000 Ram 2500 and 3500 pickup trucks, 3500, 4500 and 5500 chassis cabs from the 2007-2013 model years and 2011-2014 Dodge Charger Pursuit sedans for the same alternator issue. Fiat Chrysler said at the time one minor injury was related to the recall. Dealers will replace the alternators. By David ShepardsonRelated Video: Auto News Chrysler Fiat RAM Safety Coupe SUV Sedan FCA dodge journey fiat chrysler automobiles fiat freemont

Recharge Wrap-up: Ram 1500 EcoDiesel earns RMAP Truck of the Year, GM earns Energy Star awards

Jas Hennessy & Co, maker of Hennessy Cognac, has taken delivery of 45 electric vehicles from Renault at its headquarters in Cognac, France. The 23 Zoes and 22 Kangoo ZEs are to be used by employees traveling between the company's sites, and replace 80 percent of the company's internal combustion fleet. "For many years now, Jas Hennessy & Co has been actively working to reduce its environmental impact," says Hennessy Operations Manager Marc Sorin. Hennessy also recently bought an electric boat to take visitors across the Charente River to the company's aging cellars. Read more from Renault. General Motors has earned two Energy Star awards from the EPA. The automaker earned the Energy Star Partner of the Year award for Sustained Excellence for efforts in energy efficiency and greenhouse gas emissions. For example, GM has achieved a global reduction of energy intensity by six percent, and has invested $34 million in energy, water and carbon reduction projects at its facilities. GM also earned the EPA Energy Star Climate Communications award for its outreach to employees, customers and stakeholders about energy efficiency and climate change. Read more from General Motors. The 2015 Ram 1500 EcoDiesel has been named Truck of the Year by the Rocky Mountain Automotive Press Association. The Ram truck beat out the Chevrolet Silverado Heavy Duty and GMC Canyon to earn the honors at the Denver Auto Show. The Ram 1500 EcoDiesel boasts a fuel economy of 21 mpg in the city, 29 mpg highway and 24 mpg combined. Ram attributes the truck's efficiency to features like its eight-speed transmission, stop-start system and active aerodynamics. Rocky Mountain Automotive Press Association Names 2015 Ram 1500 EcoDiesel 'Truck of the Year' and 2015 Chrysler 200 'Car of the Year' AUBURN HILLS, Mich., April 8, 2015 /PRNewswire/ -- - Denver-based journalist organization announces the awards at the Charity Preview for the Denver Auto Show - Winners are chosen from a field that includes every significant new car and truck introduced in the last year - Each eligible vehicle is evaluated and voted on by the members of the Rocky Mountain Automotive Press - The 2015 Ram 1500 EcoDiesel, America's most fuel-efficient pickup, earned a 29 mpg rating from the U.S.