Stellantis has named a new chief executive officer.

California has settled a lawsuit against a German company stemming from the emissions scandal that tarred Volkswagen and Fiat Chrysler.

Fiat Chrysler is recalling more than a half-million heavy-duty Ram trucks to fix a problem that can cause the wheels to fall off.

The Italian-American carmaker and the French mass-market automotive company completed their merger on Jan. 16, creating Stellantis, the world’s fourth-largest carmaker, despite a pandemic year that saw profits plunge. “Stellantis is not born from a crisis,’’ Tavares told a conference call after fourth-quarter earnings were released. Fiat Chrysler reported adjusted net profits in the pandemic year of 1.9 billion euros ($2.3 billion), down 57% from 2019. PSA reported earnings of 2.2 billion euros, a drop of 32%. Fiat Chrysler reported fourth-quarter adjusted earnings before interest and taxes of 2.3 billion euros, a record 2.2 billion euros of those generated in North America, where the profit margin was 11.6%.

Stellantis, the car company combining PSA Peugeot and Fiat Chrysler, was launched Monday on the Milan and Paris stock exchanges, giving life to the fourth-largest car company in the world. (AP Photo/Peter Dejong)MILAN – Stellantis, the car company combining PSA Peugeot and Fiat Chrysler, was launched Monday on the Milan and Paris stock exchanges, giving life to the fourth-largest auto company in the world. Stellantis shares rallied 7.6% in Milan to 13.53 euros ($16.32). CEO Carlos Tavares said during a virtual bell-ringing ceremony that the merger creates 25 billion euros in shareholder value. Its closing market capitalization was under 20 billion euros, far off its 2018 highs of more than 30 billion euros.

Fiat Chrysler Shareholders of Fiat Chrysler and France's PSA Group are meeting Monday, Jan. 4, 2021 to vote on a merger that will create the world's fourth-largest automaker. Fiat Chrysler shares were up 1% in New York on Monday at $18.28, while Peugeot rose 1.8% to 22.77 euros. 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. That could put into the crosshairs any of the 14 car brands that Stellantis will house, five from PSA and nine from Fiat Chrysler. Fiat Chrysler said there are no plans to close any plants.

FILE - In this Jan. 14, 2019 file photo, Fiat Chrysler's new CEO, Mike Manley, is interviewed at the North American International Auto Show in Detroit. Manley will run operations in the Americas when his company merges with Frances PSA Peugeot early next year. FCA Chairman John Elkann announced Manleys new post on Friday, Dec. 18, 2020 in a letter to employees. (AP Photo/Carlos Osorio)DETROIT – Fiat Chrysler CEO Mike Manley will run operations in the Americas when his company merges with France’s PSA Peugeot early next year. PSA CEO Carlos Tavares will run the overall company, to be named Stellantis.

The Italian-American automaker, which is finalizing its full merger with French rival PSA Peugeot, reported a net profit in the three months ending Sept. 30 of 1.2 billion ($1.4 billion). That compares with a loss of 179 million euros a year earlier. Latin America, the only other region to post a profit, saw it narrow by two-thirds to 46 million euros. Overall, the carmaker said global earnings before tax and interest were a record 2.3 billion euros despite a 6% fall in revenues to 26 billion euros. PSA on Wednesday said that revenue in its auto division grew by 1.2% in the quarter to 12 billion euros, as a strong product mix offset lower volumes.

FILE - In this Wednesday, Dec.18, 2019 file photo, he logo of the French car maker Peugeot is pictured in Paris. Fiat Chrysler and PSA Peugeot on Wednesday, Oct. 28, 2020 confirmed progress toward their full merger to create the globes fourth-largest carmaker, with completion expected by the end of March 2021. (AP Photo/Thibault Camus, file)MILAN – Fiat Chrysler and PSA Peugeot on Wednesday confirmed progress toward their full merger to create the globe’s fourth-largest carmaker, with completion expected by the end of March 2021. The completion date for the merger is in line with the original time frame, despite the impact of the coronavirus pandemic. PSA’s CEO Carlos Tavares will lead the group, with Fiat Chrysler chairman John Elkann head of the board.

DETROIT Fiat Chrysler's Jeep brand is starting to offer gas-electric hybrid and eventually full electric powertrains across its lineup. The market in the U.S. also is unclear for a plug-in Wrangler, or any electric vehicles for that matter, Abuelsamid said. Last year in the U.S., only 310,000 plug-in hybrid and fully electric vehicles were sold, less than 2% of the market. Meunier said FCA is working on a fully electric Wrangler, but he wouldn't say when it would arrive. The company showed off a Grand Wagoneer concept vehicle with a fully electric powertrain.

FILE -- May 31, 1988 file photo of Gianni Agnelli, right, chairman of Italy's auto giant FIAT, and chief operating officer Cesare Romiti, as they leave the Banca d'Italia (Bankitalia)in Rome. Romiti has died Tuesday, Aug. 18, 2020, in his house in Milan at the age of 97, according to Italian media. In 1975, during the global oil crisis that rocked the automobile industry, Romiti joined Fiat, going on to become CEO and eventually chairman. Romiti helped Fiat launch new car models and close the historic Lingotto factory in Turin to put the company solidly on the path to profits. Fiat Chrysler Chairman John Elkann, an Agnelli family member highlighted the significant role Romiti had played in the automaker's past.

It said the normal summer factory shutdowns have been eliminated or shortened at most North America plants to meet stronger-than-expected demand for vehicles. The loss was a huge reversal from last years second quarter when Fiat Chrysler made $884 million. The company had warned that the second quarter would be much worse than the first, when it lost $1.84 billion. Four of the new electric vehicles will be made in Europe, Manley said Friday in a call with industry analysts and reporters. The electric vehicles include the battery powered Fiat 500 small car, a fully electric Ducato van, and plug-in gas-electric hybrid versions of the Jeep Compass, Wrangler and Renegade.

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.

And Fiat Chrysler has already added about 5,000 union members to payrolls in the last four years. It will be far more expensive for Fiat Chrysler to match the deals the union has won from GM and Ford. Fiat Chrysler leadership has already made clear it might not agree to the same terms. Thus Dziczek said there is little chance that Fiat Chrysler will be able to avoid matching the deals at GM and Ford. "Fiat Chrysler workers have seen the deal the union got at GM and Ford.

Jones requested the leave of absence following a vote by the executive board, the UAW said Saturday in a statement. I want to do what's best for the members of this great union," Jones said in the statement. Nine people have pleaded guilty in the scandal, including former union officials, the widow of one union official, and employees at Fiat Chrysler who dealt with the union. A top union official, Vance Pearson, was the first active union official to be indicted earlier this year. The deal needs to be ratified by the 55,000 union members at Ford before it can go into effect.

The merger between Fiat Chrysler and PSA Groupe will create a company with $190 billion in revenue. AMSTERDAM - Fiat Chrysler and Peugeot owner PSA Group have announced the terms of a merger that would create a new trans-Atlantic automaking giant with roughly 410,000 employees and combined revenues of $190 billion. The combined company would be based in the Netherlands, which is the current headquarters of Fiat Chrysler. John Elkann, the current chairman of Fiat Chrysler, would perform the same role at the combined company, while PSA Group chief executive Carlos Tavares would be CEO. Fiat Chrysler and PSA sold a combined 8.7 million vehicles last year, just ahead of GM, which sold 8.3 million, and not far behind Volkswagen and Toyota, which each sold over 10 million.

The Italian-American automaker is in talks with French automaker PSA Group, the owner of Peugeot and Citroen cars, over a potential combination, according a report in the Wall Street Journal. Spokespeople for both Fiat Chrysler and Peugeot declined to comment on the report. Fiat Chrysler is trailing many of its competitors in those R&D efforts. Fiat Chrysler was created out of a cross-border merger. Fiat Chrysler, which is due to report third quarter results on Thursday, is likewise profitable.

Eventually, negotiations with Fiat Chrysler will move to the front burner. Even if the UAW can replicate the terms of GM's deal at Ford and Fiat Chrysler, that might not be enough to get them ratified by its membership. One advantage for the next talks is that neither Ford nor Fiat Chrysler has announced any plant closings. The workers at Ford and Fiat Chrysler just saw the GM strike stretch on much longer than expected. That suggests that some Ford and Chrysler workers might be nervous about voting down any tentative deal and risk a long strike.

(CNN) - Fiat Chrysler agreed to a $40 million fine to settle charges that it lied to investors for years about how many cars it was selling. "The SEC's order finds that [Fiat Chrysler] inflated new vehicle sales results by paying dealers to report fake vehicle sales," said the agency. "In months when the growth streak would have ended or when [Fiat Chrysler] fell short of other targets, [Fiat Chrysler] dipped into the 'cookie jar' and reported old sales as if they had just occurred." But by that summer Fiat Chrysler was confirming that it was under federal investigation for its sales reporting practices. Shares of Fiat Chrysler fell slightly in trading Friday after the fine was announced.

GM and the UAW talks could be especially contentious because GM plans to shut four of its U.S. plants over the course of this year and early 2020. GM said it is working to find jobs at other plants for many of the affected hourly workers. The contracts with GM, Ford and Fiat Chrysler all are set to expire at 12:01 am on Sept. 15, although now the Ford and Fiat Chrysler contracts will probably be extended as talks with GM play out. The union wants guarantees that the automakers will find vehicles to build at all their U.S. plants to keep them open. The negotiations also come as a scandal continues, in which eight people associated with the union or Fiat Chrysler pleaded guilty to federal charges of a scheme to bribe union leadership.

The years-long probe has already led to charges against nine people with ties to the union and Fiat Chrysler. "The UAW and President Gary Jones have always fully cooperated with the government investigators in this matter," the statement said. "President Jones is determined to uncover and address any and all wrongdoing, wherever it might lead. UAW Vice President Norwood Jewell, who once headed negotiations with Fiat Chrysler, pleaded guilty in April to accepting, arranging and approving illegal payments from Fiat Chrysler executives to high-level union officials. Fiat Chrysler Vice President for Employee Relations Alphons Iacobelli also pleaded guilty in the conspiracy, as did six others.