1955 Chrysler 300 Series on 2040-cars

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Mopar celebrates 50 years of the 426 Hemi

Think of Chrysler performance and the names Mopar and Hemi are bound to come to mind. Chrysler and its Mopar performance parts division first introduced the original Hemi (so named for its hemispherical combustion chambers) back in 1951, celebrating its 60th anniversary in 2011. But it was thirteen years later - 50 years ago - that the Pentastar automaker rolled out the most iconic Hemi of them all: the Gen II 426.
The massive 7.0-liter V8 engine instantly became a muscle car icon and went on to become a favorite of racecar constructors. Two competition versions of the Gen II 426 Hemi were made: one for the track and one for the drag strip, and both went on to illustrious strings of victories. The race engine first debuted at the 1964 Daytona 500 where it powered Richard Petty's Plymouth to the checkered flag and on to the NASCAR championship.
Meanwhile on the drag strip, the Gen II 426 Race Hemi propelled Don Garlits past 200 miles per hour and down the quarter-mile in 7.78 seconds. Changes in NASCAR regulations meant that Chrysler devoted the engine to NHRA drag racing, and to this day the Gen II 426 Race Hemi is still used in Funny Car and Top Fuel dragsters.

2015 Chrysler 200 production gets underway [w/videos]

Chrysler announced recently that it has added some 800 new jobs at its Sterling Heights Assembly Plant (SHAP) to support the production of its all-new 2015 Chrysler 200 sedan. Total employment at the Sterling Heights, MI plant grows to almost 2,800 with the hires, an impressive figure for a plant that was slated for closure in 2010.
Speaking to a crowd of employees and community leaders, Fiat-Chrysler CEO Sergio Marchionne was on hand to celebrate the kick-off of 200 production last week. "We're making a big bet on its success," said Marchionne of the sedan, "we've invested nearly a billion dollars in this facility."
That billion-dollar bill has been used to construct a spanking new paint shop, install a new body shop and install "machinery, tooling and material-handling equipment" according to the Chrysler press release. The company says that SHAP now runs to nearly five million square feet of manufacturing space - loads of room for all the new employees to do their thing - and that the facility can handle multiple vehicles on two unique architectures.

Fiat board makes Chrysler merger official, approves $5.4B bond sale

Fiat's board of directors has officially approved the merger plan that will see the conglomerate's automotive operations merged with Chrysler into the new Fiat Chrysler Automobiles.
The plan essentially provides a road map for the structure of the new company. It includes provisions for Fiat shareholders - one Fiat share will translate to one share of FCA common stock. The new company will also include a loyalty voting structure, which will provide for shareholders of Fiat stock or those that have held FCA stock for at least three years. According to the plan, these shareholders would see their voting power double, with two votes for every share of FCA's common stock. The overall merger plan still needs to be approved by the company's shareholders.
In other Fiat-related news, the company's board has announced a bond issuance of four billion euro ($5.4 billion). The new bonds should provide the company with a degree of flexibility in refinancing debts associated with the merger plan.