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Ferrari to be spun off from Fiat Chrysler

The recently merged Fiat Chrysler Automobiles empire has ambitious plans for growth, and it's going to need some big bucks in its coffers in order to enact them. Part of that cash injection is coming from the floating of its IPO on the New York Stock Exchange, but now FCA has announced a further capital campaign to be based on the enormous asset that is Ferrari.
FCA's board of directors has just approved the separation of Ferrari from the rest of the group as a separate entity. Once that separation is complete, Ferrari will put 10 percent of its shares on the stock market "in the United States and possibly a European exchange" as well.
This isn't the first time that the idea of a Ferrari IPO has been raised. Sergio Marchionne, chief executive of Chrysler, Fiat and Ferrari (pictured above), first raised the idea four years ago. Former Ferrari chairman Luca di Montezemolo nixed the idea, but now that he's been discharged, it appears there's nothing to get in the way of Marchionne's desires.

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.

Race Recap: For the 2013 Monaco Grand Prix, NASCAR comes to the principality

Lots of contact, debris cautions, trips into the wall, full-course yellows and a red flag - these are the kinds of racing terms you unbox when you want to have a conversation about NASCAR... or the Formula One grand prix of Monaco. In this case we're not talking about the Coca-Cola 600 at Charlotte, we're talking about 78 laps in the South of France that even featured a fallen camera cable just like that stock-car race.
This year, Mercedes-AMG Petronas drivers treated their chassis' like busses instead of F1 cars, Romain Grosjean treated his Lotus like a battering ram, Sergio Perez kept sticking his McLaren's nose in places and eventually got it smacked, and maybe the size of the drivers' mirrors should be changed instead of the tires as there were almost as many firsts as there were crashes. Plenty of F1 fans wish Monaco were removed from the calendar, yet even though it doesn't specialize in traditional thrills, that doesn't mean nothing happens during the parade through - and into - the barriers.