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Fiat 500e Inspired by Los Angeles gets beach-inspired paint

Fiat is gradually rolling out more variants of the electric 500e. The latest addition to the range is a California-themed model called Inspired by Los Angeles that stands out with a handful of trim-specific styling cues, including an exclusive paint color, and a lofty price tag. The blue-ish gray (or gray-ish blue?) color is called Marine Layer Mist, and it was chosen for a very specific reason. Fiat explains that this shade is named after "the coastal marine layer that results from air masses of different temperatures and densities interacting, a natural phenomenon from May through June that gives the City of Angels a magical and complex feel." Gray mirror caps add a touch of contrast. Inside, there's beige upholstery, a soft-touch steering wheel, and a Marine Layer Mist dashboard insert. Fiat also threw in a seven-speaker sound system with an amplifier and a subwoofer; it includes four Virtual Venues, or sound modes, picked by Italian singer Andrea Bocelli. Fiat hasn't made any drivetrain changes. Power for the 500e comes from a single electric motor that draws electricity from a 42-kilowatt-hour lithium-ion battery pack to zap the front wheels with 117 horsepower and 162 pound-feet of torque. Range checks in at up to 149 miles. Level 2 driving technology comes standard. It relies on the adaptive cruise control and the lane-keeping system to assist the driver on select roads. It does not make the 500e fully autonomous, or even hands-free, but Fiat notes the hatchback is the only EV in its segment to offer Level 2 capabilities. Pricing starts at $37,595 including a $1,595 destination charge, so the 500e has shifted light-years away from its roots as an affordable people's car. For context, the 500e RED announced in December 2023 starts at $34,095 and the last-generation model released in 2007 and still sold new in some European markets (at least until later in 2024) costs ˆ17,700 (about $19,200 at the current conversion rate) in Italy. Built in Turin, Italy, the 500e Inspired by Los Angeles is on-sale now and deliveries are scheduled to start in the third quarter of 2024. Every 500e regardless of trim comes with a Level 2 home charger or charging credits valid in the Free2move charging network. Looking ahead, the 500 range will grow with the addition of a hybrid model, though there's no word on whether this model will be sold in the United States.

As it did with Ferrari, Fiat Chrysler spinning off Magneti Marelli

MILAN — Fiat Chrysler said on Thursday its board had tasked management to proceed with spinning off Magneti Marelli and distributing shares in a new holding for the 99-year old parts business to FCA investors. The spinoff is part of a plan by FCA Chief Executive Sergio Marchionne to "purify" the Italian-American carmaker's portfolio and to unlock value at Magneti Marelli, which sits within FCA's components unit alongside robotics specialist Comau and castings firm Teksid, and which analysts say could be worth between 3.6 and 5 billion euros ($4.4-6.1 billion). "The separation will deliver value to FCA shareholders, while providing the operational flexibility necessary for Magneti Marelli's strategic growth in the coming years," Marchionne said in a statement. Magneti Marelli, which employs around 43,000 people and operates in 19 countries, is a diversified components supplier specialized in lighting, powertrain and electronics, and its spinoff is part of a five-year business plan FCA is due to present on June 1. "The spinoff will also allow FCA to further focus on its core portfolio while at the same time improving its capital position," Marchionne added. Marchionne has a long history of such moves. The 65-year-old was behind the spinoff and listing of trucks and tractor maker CNH Industrial and supercar brand Ferrari. The Magneti Marelli separation is expected to be completed by the end of this year or early 2019, with shares in the company expected to be listed on the Milan stock exchange. FCA's advisers initially looked at a possible initial public offering for the business to raise cash to cut FCA's debt, but the Agnelli family - FCA's main shareholder - were put off by low industry valuations and did not want their stake in Magneti Marelli to be diluted, three sources close to the matter told Reuters last month. Magneti Marelli has often been touted as a takeover target and FCA has fielded interest from various rivals and private equity firms over the years. South Korea's Samsung Electronics made a bid approach in 2016 but negotiations fell through as it was only interested in parts of the business, other sources have said. The spinoff is subject to regulatory approvals, tax and legal considerations and a final approval by the FCA board. The carmaker may modify or call off the transaction at any time and for any reason, it added.

Marchionne assures Fiat jobs will stay in Italy, amid Chrysler merger talks

Even though Fiat CEO Sergio Marchionne has repeatedly said he won't pick up, leave Italy and take his Fiat factories with him, his occasional pointed comments about the challenges of running operations in that country has worried Italian politicians dealing with government, economic and labor-force seizures the past few years. After Fiat Industrial announced it was moving its headquarters to London and it was rumored that the car division's HQ would move to Auburn Hills, MI after the merger with Chrysler, it was worried that more Italian jobs would disappear.
Industry Ministry Flavio Zanonato sought assurances from both Marchionne and Fiat chairman John Elkann that they would "commit to the country," and it appears those assurances have been given. Unemployment in Italy is at 20-year-highs and car sales are at 20-year-lows, but Marchionne said "We have confirmed our commitments for Italy" and the company will hold steady on employment. The nation and the corporation said they would work together to "relaunch Italy's car market," although it's not clear what either of them will be able to do beyond wait it out. At the very least, Fiat's stance means there's one less ball the country's politicians have to juggle.