1962 Chrysler 300 2 Door Hardtop Original Condition on 2040-cars

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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

Fiat ups Chrysler stake by 3.3%, inches closer to full control

Fiat is one step closer to completing a merger with Chrysler after exercising an option to acquire an additional 3.3 percent of the Auburn Hills-based automaker today. Automotive News reports that Fiat now controls 68.49-percent of Chrysler, which is up almost 10 percent since we last heard news of this deal back in February when Fiat talking to various banks to raise more capital in order to complete the acquisition.
The article says that Fiat is still able to increase its stake in Chrysler up to 75 percent over the next 12 months, but it sounds like CEO Sergio Marchinonne would rather purchase the remaining shares from VEBA - the retiree benefits trust - sooner rather than later. Unfortunately, the two sides still seem far from an agreement on a fair price for the rest of Chrysler, as Fiat has them valued at $4.2 billion compared to the $10.3 billion estimate from the unions that currently own the remaining stake in Chrysler.

Waymo’s autonomous vehicles are driving 25,000 miles every day

Waymo, the former Google self-driving project that spun out to become a business under Alphabet, has driven 8 million miles on public roads using its autonomous vehicles. Waymo CEO John Krafcik shared the company's milestone Friday while onstage with Nevada Governor Brian Sandoval at the National Governors Association conference in Santa Fe, N.M. The figure is notable when compared to where Waymo was less than a year ago. In November, the company announced it had reached 4 million miles, meaning the company has been able to double the number of autonomous miles driven on public roads in just eight months. Waymo's fleet of self-driving vehicles is now logging 25,000 miles every day on public roads, Krafcik said. He later tweeted out the stats along with a graphic. Waymo has 600 self-driving Chrysler Pacifica Hybrid minivans on the road in 25 cities. It's also adding 20,000 Jaguar I-Pace crossovers and has plans for another 62,000 Pacificas. The company also relies on simulation as it works to build an AI-based self-driving system that performs better than a human. In the past nine years, Waymo has "driven" more than 5 billion miles in its simulation, according to the company. That's the equivalent to 25,000 virtual cars driving all day, everyday, the company says. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. https://platform.twitter.com/widgets.js This newly shared goal signals Waymo is getting closer to launching a commercial driverless transportation service later this year. More than 400 residents in Phoenix have been trialing Waymo's technology by using an app to hail self-driving Chrysler Pacifica Hybrid minivans. The company says it plans to launch its service later this year. Waymo's driverless ride-hailing service has received the most attention. But the company is also working to apply its self-driving system to three other areas, including logistics (so trucking), making public transportation more accessible and, further off, plans to work with automakers to make personally owned vehicles. Waymo, and more specifically Krafcik, has never provided much detail about how its self-driving system would make public transportation more accessible. On Thursday, Krafcik teased a future announcement.