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FCA and iPhone maker plan Chinese electric vehicle joint venture

MILAN — Italian American automaker Fiat Chrysler and Taiwan's Hon Hai plan to set up a joint venture to manufacture electric vehicles and to engage in the business of wirelessly connected vehicles, Hon Hai said on Thursday. Fiat Chrysler (FCA) and Hon Hai are negotiating to set up a 50-50 joint venture, Hon Hai said in a statement. It added Hon Hai would hold its 50% share both directly and indirectly and that its direct shareholding would not exceed 40%. Hon Hai is the parent of Foxconn, the Chinese assembler of Apple iPhones. FCA last month reached a binding agreement for a $50 billion tie-up with France's PSA that will create the world's No. 4 carmaker. The joint venture with Hon Hai will produce vehicles for the Chinese market, but many details of the accord are still to be worked out, one source close to the matter said, adding that a final deal was expected to be signed in the coming months. Foxconn has been investing heavily in a variety of future transportation ventures for several years, including Didi Chuxing, the Chinese ride services giant, and Chinese electric vehicle startups Byton and Xpeng. Foxconn also has invested in Chinese battery giant CATL and a variety of other mostly Chinese transportation tech start-ups. FCA will launch its first full-electric model - the 500 small car - this year. Reporting by Giulio Piovaccari in Milan, additional reporting by Paul Lienert in Detroit. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

The hottest modern sports cars rendered as rally racers

The modern-day World Rally Championship a monumental amount of fun to watch – I should know, as I recently was lucky enough to head to the UK to watch WRC Wales Rally GB – but even the most monstrous of the current WRC cars are based on fairly pedestrian European hatchbacks. Back in the heyday of rally, the Group B era in the 1980s, much hotter cars were the basis of even more incredible competition machines, for the most part. Take the exotic Ford RS200, or the Lancia Delta S4 with its twin-charged engine. And the hatchback-based Group B cars were bonkers, too. So what would some of our favorite modern cars look like if Group B had never ended? A British site named CarWow hired an artist to reimagine everything from the Rolls-Royce Wraith to the Porsche 911 as a retro-inspired rally car, and they were kind enough to let us share the results in the gallery above. The gallery features an Alfa Romeo Giulia in Martini livery, an Audi TT in classic Ur-Quattro colors, a Fiat 500 Abarth sporting massive flares and a hood blister full of auxiliary lights, a new Ford Mustang in RS200 livery, a Lancia Delta in Alitalia colors, a Porsche 911 in Rothmans livery, a Renault-Alpine in classic blue, a Rolls-Royce Wraith tribute to the Jules cologne Corniche Coupe, and a relatively modern-looking VW Touran. So far, the favorite around the office is the incredible Mercedes-Benz S-Class that is an homage to the wonderful 300 SEL 6.8 AMG "Red Pig" that essentially put AMG on the map. Check out the gallery above and see which one you like the best. Related Video:

Classic Fiat 500 Abarth, a one-of-a-kind creation, goes on show in Milan

It’s a little car with a big name: the Fiat Abarth Classiche 500 Record Monza '58. Based on the much-revered Fiat 500, specifically the 1970 edition of the “Cinquecento,” this one-off model was assembled by the Stellantis Heritage team to celebrate the centenary of the Autodromo di Monza, the Formula 1 track located in a park just outside of Milan, It was Carlo Abarth who, in 1958, shattered six records at Monza in Abarth's first-ever tuned 500. This miniature classic, colored in a subtle shade of grey/green, was displayed earlier this month at the 12th Milano AutoClassica motor show, an event focusing on classic and sports cars. The two-cylinder engine has been tuned, with displacement increased to 595cc thanks to the Abarth Classiche 595 Tuning Kit. The company says this is inspired by the original kit offered by Abarth in the 1960s. There are several cosmetic applications as well to the car: cream-colored door trim and the single racing seat — another nod to the original — trimmed in a light cream upholstery. An elegant wooden steering wheel and Jaeger dials dominate the dashboard. Besides the display in Milan, Fiat also took to the stage last week at the Los Angeles Auto Show, announcing the CinquecentoÂ’s return to the United States in an updated package: powered by battery. The electric 500e hatchback, which will apparently stay true to the CinquecentoÂ’s essence of cute, will likely be powered by a 117-hp electric motor. The U.S. version will be similar to a setup already on sale in Europe, where it carries a driving range estimate of up to 199 miles per charge. Its expected in North America in early 2024. There will even be an electric Abarth version, but whether the U.S. will get that remains to be seen.