1999 Ferrari 355 F1 Spider on 2040-cars

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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.

Ferrari stock sale pegged for October, or later

The Ferrari IPO is still coming, but it won't be before Columbus Day (Monday, October 12, that is), according to Fiat Chrysler Automobiles CEO Sergio Marchionne. The outspoken exec is blaming tax reasons for the fourth-quarter date, according to a report from Reuters. Marchionne said a full year needed to pass between FCA's October 13, 2014 Wall Street debut and any additional listing. This isn't the first delay in the Ferrari IPO. FCA was originally supposed to make a 10-percent offering of Ferrari during second or third quarter of 2015, before officially pushing things back to the third quarter of this year. Now, it's unclear if Ferrari will even go public before the dawn of 2016. Related Video: News Source: ReutersImage Credit: Marco Vasini / AP Earnings/Financials Government/Legal Chrysler Ferrari Fiat Sergio Marchionne FCA fiat chrysler automobiles

Ferrari Enzo split in half in crash could sell for millions

The 2004 Ferrari Enzo you see here is quite unlike any other. You see, back in 2006, tech entrepreneur Stefan Eriksson famously sliced this Enzo in half when he hit a pole along the Pacific Coast Highway while allegedly speeding at around 160 miles per hour (as you can see in the image below). And now you can bid to own it. RM Sotheby's will auction the infamous supercar in Paris on February 3. The supercar carries an estimate of between 1.5 million and 2 million euros ($1.6 million to $2.2 million at current rates). Eriksson initially claimed that a buddy was driving when the accident happened but eventually came clean. The authorities charged Eriksson with nine offenses, including grand theft, drunk driving, embezzlement, and illegal gun possession. He was later sentenced to three years in prison. Despite the horrendous damage, Eriksson's Enzo has survived. According to RM Sotheby's auction description, the Ferrari Technical Assistance Service rebuilt the car and added satellite navigation, a Bose stereo, reverse camera, power windows, and a subtle carbon fiber rear spoiler. The team also repainted the exterior in a beautiful shade called Nero Daytona and installed a Rosso interior, which replaced the original combo of Rosso Corsa on the outside and Nero inside. The car has covered 2,500 kilometers (1,553 miles) and remained in Europe since it was rebuilt from the untimely accident. The car also comes certified by Ferrari Classiche to confirm its authenticity. The Enzo is a special vehicle even without this one's great story, representing as it does a big leap forward for modern supercars. A 6.0-liter V12 with 660 horsepower sits behind the driver, and a six-speed sequential gearbox gets the power down. We can't wait to see what this interesting example brings at auction. PARIS 3 February 2016 Lot 138 2004 Ferrari Enzo Chassis no. ZFFCZ56B000135564 Engine no. 080164 Assembly no. 52696 ˆ1.500.000 - ˆ2.000.000 To be auctioned on Wednesday, February 3, 2016 Documents: French Certificat d'Immatriculation 660 bhp, 5,998 cc DOHC 65-degree V-12 engine with Bosch Motronic engine management and electronic fuel injection, six-speed electro-hydraulic computer-controlled sequential F1 transmission, limited-slip differential and traction control, front and rear pushrod-actuated double wishbones with horizontal external reservoir coil-spring damper units, and four-wheel ventilated carbon-ceramic disc brakes.