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Marchionne says electric Maserati may debut by 2019

Ask Sergio Marchionne's opinion on the prospects of making a profit on producing electric-vehicle versions of Fiats or Chryslers, and he's likely to shoot the concept down. Bring that price point up into Maserati range, though? That apparently may be in the works, according to Bloomberg News. The famously EV-averse Marchionne says the company may start work on an electric vehicle for its hoped-for Maserati Alfieri model. Additionally, a hybrid version of the Maserati Levante SUV may also be developed during the next few years. The EV may be available by 2019, while the hybrid may start sales shortly thereafter. Meanwhile, Fiat may also be working on an electric city car, which would be its first in Europe. The key, of course, is the price point. The Maserati brand means that a new EV may be a legitimate competitor to Tesla Motors because such a badge could approach the $100,000 threshold where the Tesla competes. Marchionne has long professed that it's nearly impossible to make money on electric vehicles. Earlier this month, Marchionne, speaking with UK's Car magazine, suggested that Tesla Motors is the best example of this theory, because, for all the demand for and growth of the California-based company, Tesla has never made an annual profit. And while the Fiat 500e electric vehicle has been feted for its style and performance, Marchionne has always insisted that the model was produced strictly to comply with California's zero-emissions policy, and that the company loses about $10,000 on each 500e it sells. Related Video: Green Chrysler Fiat Electric Sergio Marchionne

Watch a roundabout foil a driver fleeing from the cops

Roundabouts aren't just improving traffic flow and confusing the elderly, the circular intersections are helping to fight crime now as well. A Michigan scofflaw fleeing from police was thrown for a loop last week when he entered a newly-built roundabout at 90 miles per hour and flipped his car. According to WXYZ, on the evening of August 18 a police officer in Marysville, Michigan attempted to stop a tan Chrysler Concorde traveling north on Range Road with expired tags. At first, the driver of the Chrysler seemed to comply and activated his turn signal. Then, with no warning, he sped off in an attempt to escape the officer. "They proceeded northbound on Range Road, through Marysville, and entered Port Huron Township approximately 90 to 100 mph," said Marysville Police Sergeant John Stover. The chase was cut short in dramatic fashion after about four miles when the Chrysler approached the intersection of Range and Griswald to discover that it had recently been turned into a roundabout. Dashcam footage from the pursuing MPD cruiser show the fleeing driver hit the brakes coming into the roundabout, but it did him little good. The rear end of the car stepped out and bumped over the curb surrounding the traffic island. The car flipped on its side, slid into the center of the island and came to rest on its roof. The driver and his passenger – Jeffery Sharp and Nichols Belkiewicz – both have sizable rap sheets and Belkiewicz has an outstanding warrant. Thankfully no one was injured in the crash, but both men are facing numerous charges including eluding, driving with a suspended license, and firearms charges. Related Video: News Source: WXYZ Auto News Weird Car News Chrysler Driving Safety Videos Sedan Michigan police chase roundabout

Italy reportedly guarantees $7.1 billion loan to Fiat Chrysler

ROME — Italy has approved a decree offering state guarantees for a 6.3-billion euro ($7.1 billion) loan to Fiat Chrysler's (FCA)  Italian unit, a source said, paving the way for the largest crisis loan to a European carmaker. The source said Italy's audit court had signed off on the decree, in a final step of what had been a lengthy and contested process to get the loan approved. The court's approval follows an earlier endorsement by the economy ministry. "The audit court authorized the decree," said a source close to the matter, asking not to be named because of its sensitivity. FCA's Italian division has tapped Rome's COVID-19 emergency financing schemes to secure a state-backed, three-year facility to help the group's operations in the country, as well as Italy's car sector in which about 10,000 businesses operate, weather the crisis triggered by the coronavirus emergency. The loan will be disbursed by Italy's biggest retail bank Intesa Sanpaolo, which has already authorized it pending the approval of guarantees the government will provide on 80% of the sum through export credit agency SACE. The request for state support has sparked controversy because FCA is working to merge with French rival PSA and the holding for the Italian-American carmaker is registered in the Netherlands. FCA's global brands include Fiat, Jeep, Dodge and Maserati. It was not immediately clear what conditions, if any, Italy has set as part of the guarantees and whether they would affect FCA's planned 5.5 billion euro ($6.2 billion) extraordinary dividend, which is a key element in the merger with PSA. FCA, whose shares were down 0.5% by 0908 GMT, had no immediate comment.   Earnings/Financials Chrysler Fiat Peugeot Italy