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Ferrari and FCA are officially separated

It's been a long time in the making, but it's officially happened: Ferrari is no longer part of Fiat Chrysler Automobiles. Following the Italian automaker's initial public offering, it has officially split off from its former parent company. As part of the spin-off, FCA's stakeholders will each receive one common share in Ferrari for every ten they hold in Fiat Chrysler. Special voting shares will be distributed in the same proportions to certain shareholders as well. Those shares being distributed will account for 80 percent of the company's ownership. Another ten percent was floated as part of the company's IPO, while the remaining 10 percent is held by Enzo's son Piero Ferrari (pictured above at center), who serves as vice chairman of the company. The shares will continue to be traded under the ticker symbol RACE on the New York Stock Exchange, and will begin trading this week as well under the same symbol on the Mercato Telematico Azionario, part of the Borsa Italiana in Milan. Since the extended Agnelli family headed by chairman John Elkann (above, right) holds the largest stake in FCA, expect it to continue controlling the largest portion of Ferrari shares as well. Between them, nearly half of the shares in the supercar manufacturer – and we suspect a little more than half of the voting rights – will be controlled by the Agnelli and Ferrari families, who are expected to cooperate to ensure the remaining shareholders don't attempt a takeover of the company. Similar to its former parent company, which operates out of Turin and Detroit, the Ferrari NV holding company is nominally incorporated in the Netherlands, but the automaker will continue to base its operations in Maranello, Italy. That's where it's always been headquartered, on the outskirts of Modena. For the time being, Sergio Marchionne (above, left) remains both chairman of Ferrari and chief executive of FCA – a position to which he is not unaccustomed, having previously headed both Fiat and Chrysler before the two officially merged. Related Video: Separation of Ferrari from FCA Completed LONDON, January 3, 2016 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) and Ferrari N.V. ("Ferrari") (NYSE/MTA: RACE) announced today that the separation of the Ferrari business from the FCA group was completed on January 3, 2016. FCA shareholders are entitled to receive one common share of Ferrari for every 10 FCA common shares held.

Ferrari picks up ex-Sauber driver Esteban Gutierrez as test pilot

With McLaren's long-awaited confirmation of Fernando Alonso and Jenson Button, the grid for the 2015 Formula One World Championship is finally complete. (That is, at least, aside from the bankrupt Caterham and Marussia teams, whose fate for next season still remain open.) But with the big game of musical chairs now drawn to a close, not everyone who had a seat this year will have one the next. And that includes one Esteban Gutierrez, who lost his ride with Sauber but has landed a test driver role with Ferrari instead. Gutierrez climbed up through the formula racing ladder, winning the 2008 Formula BMW Europe and 2010 GP3 titles before getting his start as a test driver with the Sauber team – a role which he held for two seasons while simultaneously putting up a good fight and winning races in GP2. Sauber promoted him to the race seat in 2013 (when he placed a career-best seventh place at the Japanese Grand Prix) and kept him on board for another season. But after failing to finish in the points even once this past year, both he and veteran team-mate Adrian Sutil were both replaced for next season. Taking their place will be Marcus Ericsson (who drove for Caterham this year) and newcomer Felipe Nasr (who served this season as test driver at Williams). That's left Gutierrez without a race seat, but Scuderia Ferrari has snapped him up as its official test and reserve driver for next season. In that capacity he'll be offered the chance to drive top-flight machinery and hone his skills with a front-running team, and will be on standby should either Sebastian Vettel or Kimi Raikkonen be unable to drive at one grand prix or another. Most of the other teams have yet to confirm their third drivers, but Williams recently announced it was promoting Susie Wolff to the job and McLaren confirmed Kevin Magnussen was bumped down for next season to make way for Alonso. The move may strike some as odd since Gutierrez is not part of the Ferrari Driver Academy development program, but Sauber has long shared close ties with the Maranello-based team. Ferrari supplies engines to Sauber, which in turn sometimes graduates drivers to the Scuderia. Former Ferrari drivers Felipe Massa and Giancarlo Fisichella both drove for Sauber, and current drivers Vettel and Raikkonen both got their starts there as well. A Mexican driver is back to Maranello Maranello, 15 December 2014 – Ferrari announces that, as from next season, Esteban Gutierrez will become part of the Scuderia workforce.

Ryan Tuerck's Ferrari-powered Scion drifts, crashes, fixes, and drifts again

We were pretty astonished when Ryan Tuerck and Gumout shoved a Ferrari 458 V8 into a Scion FR-S. And as awesome as that fact alone may be, it's even more amazing that it's a fully functional drifter, not just a show car. Tuerck recently took it out to Portland, Ore. to do some sweet drifting on a mountain road. Unfortunately for him and the car, he did something substantially less sweet right off the bat. As you'll see in the video, in just the second corner of the course, Tuerck drives the front corner of the GT4586 right into the dirt cliff on the side of the road. For a moment, it looks like things are all right, but the car starts pulling to the right and he stops the car for repairs. After fixing bits including a thoroughly bent tie-rod, the GT4586 is good as new. We're glad the car wasn't down for long, because the drifting show following the repairs was fantastic. In the video, Tuerck throws the Scion into high-speed, super smoky drifts. And all of it happens to the tune of a shrieking Ferrari V8. It's well worth a few minutes of your time to watch. Related Video: Image Credit: YouTube / Donut Media Ferrari Scion Coupe Racing Vehicles Videos toyota gt86 toyota 86