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Marchionne says no offers are on the table for Fiat Chrysler

MONZA, Italy (Reuters) - Fiat Chrysler (FCA) has not received any offer for the company nor is the world's seventh-largest carmaker working on any "big deal", Chief Executive Sergio Marchionne said on Saturday. Speaking on the sidelines of the Italian Formula One Grand Prix, Marchionne said the focus remained on executing the company's business plan to 2018. Asked whether FCA had been approached by someone or whether there was an offer on the table, he simply said: "No." The company's share price jumped to record highs last month after reports of interest for the group or some of its brands from China. China's Great Wall Motor Co Ltd openly said it was interested in FCA, but had not held talks or signed a deal with executives at the Italian-American automaker. The stock move was also helped by expectations that the company might separate from some of its units. Marchionne reiterated on Saturday that FCA was working on a plan to "purify" its portfolio and that units, such as the components businesses, would be separated from the group. He hopes to complete that process by the end of 2018. "There are activities within the group that do not belong to a car manufacturer, for example the components businesses. The group needs to be cleared of those things," he told journalists. Asked whether an announcement could come this year, Marchionne said it was up to the board to decide and that it would next meet at the end of September. He said the time was not right for a spin-off of luxury brand Maserati and premium Alfa Romeo and the two brands needed to become self-sustainable entities first and "have the muscle to stand on their feet, make sufficient cash". "The way we see it now, it's almost impossible, if not impossible, to see a spin-off of Alfa Romeo/Maserati, these are two entities that are immature and in a development phase," he said. "It's the wrong moment, we are not in a condition to do it." He said the concept of separating the two brands from FCA's mass market business made sense and did not rule out this happening in future, but not under his tenure, which lasts until April 2019. "If there is an opportunity in future, it would certainly happen after I'm gone. It won't happen while Marchionne is around," he said.

Fiat will start selling 500e in Oregon this summer

Even thought demand in California for the Fiat 500e electric vehicle is growing, the fun little EV is about to grown its sales to the north. Fiat US chief Jason Stoicevich tells Wards Auto that sales of the EV will start in Oregon this summer, adding that green-minded Portland will likely be a strong market for the model. Fiat 500e demand in California is "fantastic." This year's first-quarter sales of the gas-powered and EV variants of the 500 were up about 19 percent from a year earlier, as a recent TV ad campaign featuring Sean "P. Diddy" Combs and the model's availability at about 220 dealerships appear to have been effective. Stoicevich didn't give any specific sales figures for the 500e, though he did say demand in California is "fantastic." "After its introduction in California last year, the Fiat 500e has been a great success for our brand in just a short period of time," Fiat spokeswoman Angela Bianchi wrote in an e-mail to AutoblogGreen while confirming the debut of 500e sales in Oregon this summer. "Oregon is the second-largest ZEV (zero-emissions vehicle) state after California." Late last year, Wards Auto named the 500e motor to its 10 Best Engines list, making the model the first Fiat ever to receive that honor. The 500e has 111 horsepower and can go 87 miles on a single charge. The 500e also won Road & Track's 2013 award for best electric car in November as the model was praised for its power and handling. Read our review of the 500e here.

Fiat recalling 500e for faulty power inverter

Chrysler is recalling 4,141 Fiat 500e models from the 2013 and 2014 model years because they could lose power. According to the automaker, the power inverter module could allow coolant to seep onto electrical components. This could cause a short circuit and power loss. The part in question is responsible for altering the electric current.
The company discovered the problem while reviewing warranty claims, and it found five cases where the fault actually occurred. It's not aware of any injuries or accidents tied to this issue. The recall affects cars built between September 24, 2012, and April 4, 2014, and all of them are in the US. Chrysler will contact owners directly to schedule the repair.
This is the second recall for the electric hatchback. Chrysler previously had to repair more than 270 of them last year to replace bolts that secure the vehicles' half shafts.