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Groupe PSA has announced the repurchase of 10 million shares from Dongfeng Motor Group, representing approximately 1.10% of the company’s share capital. The shares will be cancelled post-settlement, scheduled for September 25, 2020. This transaction aligns with the planned integration of FCA and PSA, initiated on December 18, 2019. Additionally, a new agreement allows for 20.7 million more shares to be sold by DFG to PSA by the end of 2020, or to third parties by 2022.
The 2021 Ram 1500 TRX will launch with FCA's new augmented reality mobile app, Know & Go, which enhances customer experience by allowing users to interactively learn about vehicle features. Developed by FCA employees during the company's inaugural Pitch Night, the app transformed from concept to market-ready in under three months. Customers who purchase the Ram 1500 TRX will be the first to use the app, which offers immersive and self-discovery features, video tutorials, and detailed information via smartphone camera integration.
The Jeep Adventure Academy is set to launch in October 2020, offering hands-on, off-road driving instruction for Jeep 4x4 owners across three locations in the U.S. The program, led by experienced instructors from Jeep Jamboree USA, aims to enhance participants' understanding of off-roading skills and vehicle capabilities. Registration begins at $99, and classes will cover essential topics such as 4x4 systems, driving techniques, and safety tips.
Locations include Holly Oaks Off-road Vehicle Park, Southern Missouri Off-Road Ranch, and Hollister Hills State Vehicular Recreation Area.
FCA has been recognized as one of the 2020 Top 50 Best Companies for Latinas to work for in the U.S., ranking No. 15 and being the highest-rated automaker on the list. This marks the 17th year FCA has been included in this prestigious report, established in 1998. The LS50 Report evaluates companies on diversity and inclusion efforts, showcasing FCA's commitment through various programs, including the Latins In Connection (LinC) BRG. The awards ceremony will take place in February 2021 in Washington, D.C.
Fiat Chrysler Automobiles (FCA) and Peugeot S.A. have announced a six-month lock-up on Faurecia shares following the proposed distribution of Groupe PSA's 46% stake in Faurecia to Stellantis shareholders. The lock-up involves major stakeholders EXOR, EFP/FFP, Bpifrance, and DFG. This measure is part of their amended combination agreement, continuing the integration process of the two companies. Shareholders in the U.S. are advised to review relevant SEC filings for further details on the transaction.
Ram Truck has announced the launch of the third phase of its 'Built to Serve Edition' trucks honoring U.S. armed forces, with production starting in October 2020. This series includes 2,000 units of Ram 1500 in Anvil and Billet Silver colors, featuring an aeronautical-inspired design and customizable interiors. Each truck showcases unique details such as military branch-specific accent stitching and a U.S. flag decal. The rollout coincides with the U.S. Air Force's 73rd anniversary. Ram continues to support veterans through initiatives like Ram Nation.
Jeep brand has launched a 90-second video titled "Pale Blue Dot" to promote the new Wrangler 4xe while highlighting climate change initiatives. For every view on their YouTube channel, a donation will be made to environmental organizations. The video, created with Ann Druyan, features Carl Sagan's iconic narration and emphasizes Jeep's commitment to electrification and eco-friendly technology. The Wrangler 4xe offers 25 miles of electric-only driving, combining performance with environmental responsibility. The video will air on September 22 during the premiere of Cosmos: Possible Worlds.
Fiat Chrysler Automobiles (FCA) and Groupe PSA have amended their Combination Agreement to enhance Stellantis' capital structure. A special dividend of €2.9 billion will be distributed to FCA shareholders before closing, reduced from €5.5 billion. Their merger aims for annual run-rate synergies exceeding €5 billion while maintaining a 50/50 ownership structure. The completion is expected by the end of Q1 2021. Key stakeholders reiterated their support amidst COVID-19 disruptions. These amendments are seen as a strategic move to strengthen liquidity and operational flexibility.
On September 14, 2020, FCA announced that its brands won six awards in AutoPacific's 2020 Vehicle Satisfaction Awards. Ram captured the title for Highest Satisfaction Popular Brand and the Ram 1500 was recognized as the best Full-Size Pickup for the second consecutive year. Alfa Romeo's Giulia and Stelvio won awards for Standard Luxury Car and Standard Luxury Crossover SUV, respectively. The Dodge Challenger earned its fourth consecutive win in the Sports/Sporty Car category, while the Chrysler 300 was awarded in the Large Car segment, reflecting high customer satisfaction across FCA's vehicle lineup.
