PEUGEOT

Kevin Magnussen will make a surprise return to Formula One this season with the same team that fired him a year ago.

It’s an excellent time to be an autoworker. Despite COVID and all the hassles complicating an already tough job, UAW members, thanks to a new profit-sharing formula, will see their bank accounts soon swell significantly.

Some white collar workers at Stellantis have the next few weeks to decide if they want to retire.

The company expects more than 70% of sales in Europe and over 40% in the U.S. to be low emission vehicles (EVs and hybrid electric models).

White-collar workers at Stellantis, maker of Jeep SUVS and Ram pickups, will keep a hybrid work schedule when they return to the office.

AUBURN HILLS, Mich. – The merger between PSA Peugeot and Fiat Chrysler Automobiles (FCA) that will lead to the creation of Stellantis was officially complete Saturday. The Stellantis sign is now up outside the now former FCA headquarters in Auburn Hills. Stellantis was launched Monday on the Milan and Paris stock exchanges, giving life to the fourth-largest auto company in the world. Read more: Carmaker Stellantis shares jump in Milan, Paris on first day

Fiat Chrysler Shareholders of Fiat Chrysler and France's PSA Group met Monday, Jan. 4, 2021 to vote on a merger that will create the world's fourth-largest automaker. (AP Photo/Michel Euler, File)DETROIT – The merger between Peugeot maker PSA and Fiat Chrysler Automobiles that will lead to the creation of Stellantis was complete Saturday. The Peugeot and FCA merger has been the subject of much controversy. Speaking to Local 4 News earlier this month, Frank Rhodes, the great grandson of Walter Chrysler who founded famed auto company Chrysler in 1924 expressed concern over the business deal. Read more: Great grandson of Walter Chrysler worries about fate of automaker

The Peugeot and Fiat Chrysler Automobiles merger is at the center of the contention. Walter Chrysler founded his famed auto company in 1924. His name has stuck around through the Daimler merger and the Fiat takeover, but this new world without Chrysler bothers his great grandson, Frank Rhodes. Rhodes is also upset about the possibility the Chrysler brand itself is in jeopardy. “It’s down to two vehicles now and one is a very old Sedan and Sedans aren’t selling, so the future of the Chrysler brand may be questionable,” said Krebs.

DETROIT – Here’s what you missed on Local 4 News at Noon. Shareholders approve merger between Fiat Chrysler, PeugeotShareholders of Fiat Chrysler and PSA Peugeot voted Monday to merge and create the world’s fourth-largest auto company which, its architects hope, can more readily take on an enormous technological shift in the industry.

European Commissioner Executive Vice-President Margrethe Vestager talks during a video press conference at the EU headquarters in Brussels, Wednesday, June 17, 2020. (Kenzo Tribouillard, Pool Photo via AP)BRUSSELS The European Union is opening an in-depth investigation into the proposed merger of Fiat Chrysler and Peugeot that would create the worlds fourth-largest automaker. Vestager stressed that either Fiat Chrysler or Peugeot are already the leader in many EU nations in that sector and the merger would eliminate a major player, thus reducing competition. Fiat Chrysler has been looking for an industrial partner in recent years. A previous deal with French rival Renault last spring fell apart over French government concerns about the role of Renaults Japanese partner, Nissan.

Fiat Chrysler, Peugeot sign $50B merger dealPublished: December 18, 2019, 6:23 amThe companies said in a joint statement the new group will be led by PSA's cost-cutting CEO Carlo Tavares, with Fiat Chrysler’s chairman John Elkann as chairman of the merged company. Fiat Chrysler CEO Mike Manley will stay on, but it was not announced in what capacity.

Signage in the background says"'FCA Fiat Chrysler Automobiles," to which Jeep belongs. Fiat Chrysler Automobiles and Peugeot maker PSA have struck a binding deal to create the world's fourth-biggest carmaker, and now face the challenge of winning over regulators and delivering on a pledge to slash costs without closing factories. France's PSA and Italian-American Fiat Chrysler Automobiles (FCA) announced a preliminary deal six weeks ago for an all-share merger that would create a company worth about $50 billion and unite brands such as Fiat, Jeep, Dodge, Ram and Maserati with the likes of Peugeot, Opel, and DS. The terms were little changed in the binding deal announced on Wednesday, including a target to cut costs by 3.7 billion euros ($4.1 billion) a year without closing factories. The merged company will employ around 400,000 people worldwide, and unions have warned they will resist job losses.

On Oct. 28, 2013, she finished a class and headed to the undergraduate library to take a test. Deadly fire that killed 3 children ruled likely accidentalA deadly house fire in Lansing was likely accidental, the Lansing Fire Department said. A 31-year-old man and a 5-year-old girl are at University of Michigan hospital in critical condition. Community in mourning after child killed by dogA family in Hazel Park is mourning after the devastating loss of their son Tuesday night. If you use a space heater, make sure its safe and not on a recall list -- keep it away from children.

Both sides, however, are well aware of what happened barely five months ago, when a seemingly unstoppable merger between Fiat Chrysler and PSA's arch-rival Renault collapsed at the last minute. The French government took much of the blame following the breakdown for demanding delays that Fiat Chrysler officials found unacceptable, prompting them to call off the talks. The Fiat Chrysler-Renault merger was complicated by that French company's long-standing ties to Japan's Renault. The French government holds a smaller stake in PSA than it did in Renault. As part of the French company, it was profitable in its first year, reversing two decades of losses under GM.

Peugeot (PSA) and Fiat Chrysler (FCA) confirmed their intention to merge on Thursday, in what would be a 50-50 share swap and create the world's fourth-largest carmaker. The proposed tie-up would reportedly create an industry behemoth with 8.7 million vehicle sales, $190 billion in turnover and a combined 400,000 employees. By vehicle sales, Volkswagen Group, Renault-Nissan, and Toyota occupied the top three spots of the world's leading automakers in 2018, according to Statista. Early reports of the merger talks which would create a new group worth roughly $50 billion have moved share prices for both automakers this week. Italian-American carmaker Fiat Chrysler saw its stock surge as much as 8% on Tuesday and added another 5% on Wednesday.

DETROIT -- Shares of Fiat Chrysler surged as much as 8% Tuesday after the Wall Street Journal reported that the automaker is in talks to combine with Peugeot-owner PSA Group. One possibility for the deal, according to the report, which cited unnamed sources, is an "all-share merger of equals" with Peugot CEO Carlos Tavares leading the combined companies. The deal, according to the news outlet, would "create a $50 billion trans-Atlantic auto giant." Fiat Chrysler did not immediately respond for comment. Read the full story in the Wall Street Journal here.