Shares of Fiat Chrysler surge on report of Chinese suitors

Related News Fiat Chrysler to investigate crash that killed 'Star Trek' actor By Reuters/David Shepardson and Alex Dobuzinskis &nbspJune 21, 2016 | 08:04 am GMT+7 Fiat Chrysler Automobiles NV said on Monday it would investigate a crash that killed "Star Trek" actor Anton Yelchin in his recalled 2015 Jeep Grand Cherokee. Yelchin was killed when the SUV rolled away and pinned him against a fence in Los Angeles, police said on Sunday. Fiat Chrysler in April recalled more than 1.1 million cars and SUVs worldwide because vehicles may roll away after drivers exit, an issue linked to 41 injuries, 212 crashes and 308 reports of property damage, though it had no immediate fix for owners. Yelchin died of accidental blunt force asphyxia, Los Angeles County Coroner Assistant Chief Ed Winter said in a phone interview Monday. The results of toxicology tests to determine if Yelchin was under the influence of any substances are not due back for at least six weeks, he added. In a May 24 letter to dealers, Fiat Chrysler said it anticipated having the software updates required to fix the vehicles no later than July or August. The company previously had told owners it hoped to come up with a "permanent" remedy by the fourth quarter. The U.S. National Highway Traffic Safety Administration said late Monday in a statement it is in contact with local authorities and Fiat Chrysler "to understand all of the facts related to this tragic crash, including whether or not this was caused…... [read more]

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Back in 2008, with gas prices averaging nearly $4 a gallon, President Barack Obama set a goal of getting one million plug-in electric vehicles on the roads by 2015. Since then, his administration has backed billions of dollars in EV subsidies for consumers and the industry. Yet today – with gas prices near $2 a gallon - only about 400,000 electric cars have been sold. Last year, sales fell 6 percent over the previous year, to about 115,000, despite the industry offering about 30 plug-in models, often at deep discounts. Such challenges are part of the backdrop for Obama’s Wednesday visit to Detroit, where he’s expected to discuss the state of the auto industry. Despite slow plug-in sales, the industry continues to roll out new models in response to government mandates and its own desire to create brands known for environmental innovation. At the Detroit Auto Show last week, General Motors Co showed off its new electric Bolt EV; Ford Motor Co unveiled a new plug-in version of its Ford Fusion; and Fiat Chrysler Automobiles NV unveiled its first plug-in hybrid, a version of its new Pacifica minivan. Ford CEO Mark Fields said last week that EVs "are a difficult sell at $2 a gallon." Plug-in vehicles accounted for fewer than 1 percent of the 17.4 million cars and trucks sold last year, according to data from and Baum & Associates, a Michigan-based market research firm. That doesn’t include sales of more mainstream gas-electric hybrids such as the Toyota…... [read more]

Workers on the production line at Honda Motor’s plant in Celaya, Mexico, on Feb. 21, 2014. Photo: Bloomberg When exhausted officials from the 12 countries negotiating the Trans-Pacific Partnership wrapped up a week of talks in Hawaii at the end of July without reaching a deal, Mexico’s economy minister, Ildefonso Guajardo, brushed off efforts to pin the delay on him. "What you can accuse me of," he told the press with an amused smile, is advocating for "the interests of my country." Guajardo is fighting to ensure that the TPP does not jeopardize gains his country has made under the North American Free Trade Agreement, which eliminated tariffs on goods shipped between Canada, Mexico, and the U.S. Ford Motor, General Motors, and Chrysler (now Fiat Chrysler Automobiles) all expanded production south of the Rio Grande after the deal took effect in 1994 to take advantage of duty-free access to the U.S. market and Mexico’s low wages. European and Japanese manufacturers did the same. Last year, Mexico overtook Japan to become the second-largest exporter of vehicles to the U.S., behind Canada. Clinching a deal on the TPP, a trade bloc that would stretch from Chile to Japan and cover 40 percent of the world’s economic output, is a top priority for President Obama. To speed the talks along, Washington provisionally agreed that Japan’s automakers should be allowed to ship vehicles to North America duty-free, even if a significant proportion of their content comes from non-TPP countries. (The U.S. levies a 2.5…... [read more]

The rapid growth in the "Internet of Things" has opened up new opportunities for cyber attacks and new markets for cyber defenders. SAN FRANCISCO: Hackers are not just after your computer: Connected devices from cars to home security systems to sniper rifles are now targets for attackers looking to steal or cause mischief. The rapid growth in the "Internet of Things" has opened up new opportunities for cyber attacks and new markets for cyber defenders. This is among the hot topics at a Black Hat computer security conference that kicks off in Las Vegas on Sunday (Aug 2) and an infamous Def Con hacker gathering that follows. Early glimpses have been provided of scheduled presentations about how to commandeer control of some Chrysler Fiat vehicles or accurately retarget self-aiming sniper rifles. "The Internet of Things is definitely one of the big new frontiers," said Mr Christopher Kruegel, co-founder of cyber security firm Lastline and a professor of computer science at a state university in Southern California. Fiat Chrysler Automobiles issued a safety recall for 1.4 million US cars and trucks in July after hackers demonstrated that they could take control their systems while they are in operation. The recall came after cybersecurity experts Charlie Miller and Chris Valasek of the firm IOActive Labs remotely commandeered a Jeep Cherokee, made by Chrysler, to demonstrate the vulnerability of the vehicles' electronic systems. As reported in Wired magazine and elsewhere, working from laptop computers at home, the two men were able to enter…... [read more]

After Tesla and Google, Apple appears to be readying for a plunge into the industry long rooted far away in the steel belt of the US upper Midwest. According to various media reports, the maker of iPhones and iPads has created a special unit baptized "Titan" with hundreds of staff to begin developing an electric car, with 2020 the target date. Apple remains silent on the project, but the reports were partially backed up by a lawsuit filed against the tech giant. Battery maker 123 Systems has accused Apple of aggressively poaching its staff. But it puts Apple in line with Tesla, the current champion of the electric car, and Google, the online giant which is focused on the self-driving, also-electric Google Car. The Big Three US automakers -- General Motors, Ford and Chrysler (now a part of Fiat Chrysler Automobiles, FCA) -- are taking the threat from the Detroit outsiders seriously. "Given the company's (Apple's) tremendous capabilities, that is no surprise to anyone," GM spokesman Dan Flores told AFP. At Chrysler, spokesman Eric Maynes said: "We can't comment on something we haven't seen." Ford too had no comment on Apple's plans, but the number two automaker recently opened a research center in Palo Alto, the heart of Silicon Valley, as it looks to the future of self-driving automobiles. Bill Visnic, an analyst at industry specialist, said that given the seven-year average time frame to develop and bring a car to the mass market, the Detroit giants are not…... [read more]

U.S. lawmakers on Wednesday accused General Motors Co of a "disturbing pattern" of neglecting safety and revealed emails from 2005 in which a GM employee warned a "big recall" may be necessary over an ignition-switch problem that was only addressed this week. GM Chief Executive Mary Barra faced tough questions about widespread safety failures at GM in her third public appearance before Congress since the automaker started recalling millions of vehicles in February. The No. 1 U.S. automaker has issued 44 recalls this year, including one for an ignition flaw linked to at least 13 deaths over the past decade. It has recalled 20 million vehicles, mostly in the United States, of which nearly 6.5 million were recalled for ignition switch-related issues. In the emails made public on Wednesday, GM employee Laura Andres in 2005 sent one to engineers warning that a 2006 Chevy Impala Special car she was driving had experienced an engine stall when moving between a paved road and gravel. She said a technician had advised the problem may be with part of the ignition switch. "I think this is a serious safety problem, especially if this switch is on multiple programs. I'm thinking big recall," Andres said in an email sent to 11 other GM employees including the vice president of North American engineering. Andres declined to comment on Wednesday. The 2006 Impala was not recalled until Monday of this week, as part of an additional 3 million cars that GM recalled for an ignition-switch issue.…... [read more]

Fiat Chrysler Automobiles aims to list its shares on the New York Stock Exchange on October 1, chief executive officer Sergio Marchionne said.... [read more]

US automaker Chrysler is recalling about 8,000 large vans due to a problem with the acceleration pedal that can limit driver control and increase the chance of an accident. NEW YORK: US automaker Chrysler is recalling about 8,000 large vans due to a problem with the acceleration pedal that can limit driver control and increase the chance of an accident. Chrysler, now part of Italian car giant Fiat Chrysler Automobiles, said the recall affects 7,935 Ram Promaster cargo vans manufactured between July 1, 2013 and December 10, 2013 and sold in the United States, according to the recall notice posted on Wednesday. The accelerator can become stuck if pressed downward from an angle, Chrysler said in a notification to the National Highway Traffic Safety Administration (NHTSA). "A stuck accelerator pedal can result in uncontrolled acceleration, increasing the risk of a crash," the NHTSA said. Chrysler said it knew of no accidents or injuries potentially related to the problem. Source AFP... [read more]

Sergio Pininfarina, whose family company designed almost every Ferrari since the 1950s and whose name is still synonymous with some of the world's most glamorous cars, has died aged 85. The Pininfarina logo is pictured at the Casa Enzo Ferrari museum during a media preview in Modena, northern Italy, in this March 9, 2012 file photo. Sergio Pininfarina, whose family company designed almost every Ferrari since the 1950s and whose name is still synonymous with some of the world's most glamorous cars, has died aged 85. Photo: Reuters The company said on Tuesday he died overnight in his Turin home. Pininfarina had been groomed by his father Gian Battista, a onetime Turin carriage maker who founded the influential car design house in the 1930s, to succeed him in the business since he was a child. Born in 1926, he joined the family firm after graduating in mechanical engineering from Turin's Polytechnic University, became chief executive in 1961 and then chairman when his father died in 1966. By then, the company had already risen to prominence through a knack for making the latest aerodynamic design trends attractive to a broader public. The family's prestige in Italy was such that it was allowed to change its name to Pininfarina from the original Farina - Pinin, meaning "the little one" in Piedmont, was Gian Battista's nickname - with a presidential decree in 1961. The ground-breaking 1947 Cisalfa coupe, designed by Gian Battista "Pinin" Farina after World War Two, now sits in New York's…... [read more]

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