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For his last act, Marchionne will outline an EV/hybrid roadmap this week

MILAN/LONDON — Fiat Chrysler (FCA) boss Sergio Marchionne is expected to outline new plans for electric and hybrid cars in a strategy presentation on Friday, aiming to ensure the world's seventh-largest carmaker remains in the race in the absence of a merger. The 65-year-old will present FCA's strategy to 2022, his final contribution to the company he turned around and multiplied in value through 14 years of canny dealmaking. After failing to secure a tie-up he said was necessary to manage the costs of producing cleaner vehicles, Marchionne needs to show the group can keep churning out profits on its own, even as emissions rules tighten, SUV competition intensifies and worries around his succession abound. Marchionne had long refused to jump on the electrification bandwagon, saying he would only do so if selling battery-powered cars could be done at a profit. He even urged customers not to buy FCA's Fiat 500e, its only battery-powered model, because he was losing money on each sold. But Tesla's success and the need to comply with tougher emissions rules have forced Marchionne to commit to what he calls "most painful" spending. "FCA is way behind rivals in terms of hybrid and electric vehicles and they need to hit the accelerator to convince investors they can close that gap," said Andrea Pastorelli, a fund manager at 8a+ Investimenti. Germany's Volkswagen, Daimler, BMW and U.S. rivals GM and Ford have committed to spending billions of euros each in coming years to try produce profitable cars powered by cleaner fuels. FCA needs to present a clear roadmap, just like Volvo Cars, which ditched diesel from its best-selling XC60 SUV, launched a new electric brand and pledged to shift all brands to hybrid by 2019, a banking source close to FCA said, noting: "The tech divide determines winners and losers in the industry." Marchionne has already said half of the wider FCA fleet will incorporate some elements of electrification by 2022, while luxury marque Maserati will spearhead FCA's electrification drive by making all new models due after 2019 electric. But its plans remain vaguer and less advanced than most big rivals and some investors wonder about the capital required to make vehicles compliant, and what share of spending can go to electrification given FCA's numerous demands.

Dodge Durango poised for SRT's devilish power-up

Does the world need a 707-horsepower Dodge Durango Hellcat? It looks like it's a possibility, according to recent spy shots of a suspicious test mule. But it could also be a Durango powered up with the FCA US 6.4-liter V8 that makes 475 hp. Spy shooters report that the mule captured here sounds like the Hellcat-powered Dodge Chargers and Challengers. Hidden design cues like the fascia suggest this Durango has truly devilish power. There's also a bulging hood with an air intake under the camouflage. So it could be a Durango Hellcat. It's also possible Dodge is dropping the 6.4-liter V8 used in the Grand Cherokee SRT under the hood of the Durango. Engine sharing makes sense, since both FCA SUVs are based on the same platform and built at the same factory in Michigan, though the Durango is longer to accommodate a third row. It is also more logical Dodge would add the 475-hp mill to the Durango's lineup first before going all the way to the 6.2-liter 707-hp Hellcat engine. The most powerful current Durango has a 360-hp 5.7-liter Hemi V8. We expect the Durango will get a refresh for 2018. Related Video: Featured Gallery 2018 Dodge Durango SRT Spy Photos View 16 Photos Spy Photos Dodge SUV Performance

470,000 Jeep Liberty, Chrysler 200, and Dodge Avenger models recalled for restraint defect

Fiat Chrysler Automobiles said on Friday it is recalling 470,000 vehicles worldwide to replace a component that may inhibit deployment of the vehicles' active head restraints in the event of a crash. Around 414,000 of those vehicles were sold in the United States. Apparently, "a component common to the modules of certain vehicles may degrade after extensive vehicle use." The recall covers 2012 Jeep Liberty sport utility vehicles and 2012-13 Chrysler 200 and Dodge Avenger midsize cars. FCA says a warning light may alert owners to the problem. The Italian-American automaker said it is unaware of any injuries or accidents related to the recall. The U.S. National Highway Traffic Safety Administration opened an investigation into the issue in June. (Reporting by David Shepardson; Editing by Steve Orlofsky) Related Video: