Merger News

FCA and PSA Group approve merger to become world's 4th-largest automaker

The boards of FCA and PSA Group have approved a merger between the two companies.

Photo courtesy of Fiat Chrysler Automobiles N.V.

Earlier this year, Fiat Chrysler Automobiles N.V. nearly merged with Renault. Now, the boards of FCA and PSA Group have agreed to join forces using a 50-50 share swap.

Combined, the company will be worth $50 billion and be located in the Netherlands, where FCA currently has its head office. It will have stock listings in Paris, Milan, and New York. The combined company will maintain a significant presence in their current operating head-office locations in France, Italy and the US.

The new company's board will consist of 11 members. PSA's Carlos Tavares will be the company's CEO and a member of the board while FCA's John Elkann will be chairman of the board.

A joint statement from the companies cited a, "rapidly changing environment, with new challenges in connected, electrified, shared and autonomous mobility," as the reason for the merger and expressed how that, "the combined entity would leverage its strong global R&D footprint and ecosystem to foster innovation and meet these challenges with speed and capital efficiency."

Last year, the company had combined sales of 8.4 million vehicles. PSA Group does not currently have a footprint in the U.S. though they have expressed wanting to do so over the past few years, even going so far as to establish an office in Atlanta, Georgia. Much of PSA Group's sales strength is in Europe while FCA is strongest in North and South America.

The company will be able to utilize manufacturing strategies that will have $4.124 billion in estimated annual run-rate synergies. The automakers say this will come from a shared allocation of resources for large-scale investments in vehicle platforms, powertrains, technology, and purchasing capability. Eighty percent of these synergy are expected to be acheived after four years at a one-time cost of $3.118 billion.

No plants will be closed.

FCA brings the Fiat, Dodge, Ram, Chrysler, Jeep, Alfa Romeo, and Maserati vehicle brands to the table. PSA Group owns Peugeot, Citroën, DS, Opel, and Vauxhall. Both companies have a number of investments in third-party mobility and technology companies.

There is currently no public proposal of a forthcoming name change as the automakers form the joint company.

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David Beckham is the new face of Maserati.

Photo courtesy of Maserati

David Beckham is turning his passion for supercars into a side gig. The former Manchester United midfielder has become the new face of Maserati.

Beckham has a long history as a car nut. He's owned Rolls-Royces, Bentleys, McLarens, Cadillacs, Audis, Aston Martins, Jaguars, BMWs, Lamborghinis, Ferraris, Hummers, and Jeeps, just to name a few. A year ago an Aston Martin Volante owned by Golden Balls went under the hammer and a little later in the year he was named one of the top five celebrities people would prefer to have deliver their new car to their home.

Maserati has a number of new projects up its sleeve besides partnering with Beckham. The company recently launched the new Ghibli Hybrid, a vehicle that the Modena-based manufacturer sees as a jumping off point for the new version of the brand - one where electrification and performance take center stage. Call it the Italian version of Akio Toyoda's famous "no boring cars" statement.

"The Brand is moving forward, inaugurated a new Era. Maserati is driven to challenge the status quo being innovative by nature, powered by passion, and unique by design. The partnership with David is the embodiment of all these values,: said Paolo Tubito, Maserati Chief Marketing Officer.

For 2021, Maserati also added a trio of Trofeos to its lineup. The The Maserati Levante Trofeo,. Ghibli Trofeo,and Quattroporte Trofeo are the most extreme versions of the vehicles available new from the manufacturer.

Beckham makes his debut in a new movie featuring the Levante Trofeo, performing the "audacious" act of driving a Maserati. The setting is Miami, the home city of Club Internacional de Fútbol Miami, an MLS soccer club that Becks co-owns with Marcelo Claure, Jorge Mas, Masayoshi Son, and José R. Mas.

Maserati and David Beckham: two of a kind www.youtube.com

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A new Texas-themed version of the Jeep Gladiator is on the way.

Photo courtesy of Stellantis

Jeep has brought the Gladiator's off-road chops to the trails of the Lone Star State. The 2021 Jeep Gladiator Texas Trail is another of the the traditional of special edition vehicles for Texans who occupy the nation's largest truck market. It's the first time Jeep has offered a unique-to-Texas truck.

The new model builds on the Gladiator Sport S trim adding 17-inch Mid-Gloss Back Aluminum wheels wrapped in 32-inch mud-terrain tires, four-wheel drive, standard side steps, and the Trailer Tow Group. The Gladiator Texas Trail has a unique hood and decals that feature the year 1836 in the graphic as a nod to the year of the Texas Declaration of Independence. It also wears a black hardtop, black leather seats embossed with the Texas Trail graphic and comes equipped with the Technology Group and Convenience Group packages.

2021 Jeep Gl The vehicle is ready to be fully accessorized to the buyer's wishes.Photo courtesy of Stellantis

2021 Jeep Gl

The Texas-themed model features the buyer's choice of Jeep's new 3.0-liter EcoDiesel V6 engine that's rated at 260 horsepower and 442 pound-feet of torque or the tried and true 3.6-liter Pentastar V6 power plant, which achieves 285 horsepower and 260 pound-feet of torque.

Jeep has badged each of the models with Trail Rated status. To achieve this status, Jeep vehicles must pass extreme off-road capability challenges.

The Gladiator Texas Trail is available in 10 colors: black, white, Snazzberry, Granite Crystal, Sarge, Nacho, Hydro Blue, Firecracker Red, Billet Silver, and Sting-Gray. Jeep recently introduced a Snazzberry-colored Wrangler.

Each Gladiator comes with the Jeep Wave customer service program, which includes three years of maintenance, 24/7 phone/online support, trip interruption/first-day loaner coverage, and VIP access to Jeep events.

The 2021 Jeep Gladiator Texas Trail has a starting MSRP of $40,435 (plus $1,495 destination) and is currently available at Texas dealers.

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