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Sergio rethinks FCA-GM merger idea, dismisses critics

After many public overtures, Fiat Chrysler Automotive CEO Sergio Marchionne has claimed his company won't be making a hostile takeover bid for General Motors. This is despite widespread speculation that FCA's desire to merge was motivated by its allegedly dire situation. As one unnamed GM exec who spoke to Automotive News earlier this year put it, "Why should [GM] bail out FCA?" "We are not choking. We are in relatively decent shape," Marchionne told journalists attending an FCA shareholder meeting in Amsterdam, AN reports. "We have been publicly rebuffed, we have been rejected and you cannot force these things. I don't want to. At the moment, we have no intention to do anything hostile." Instead of focusing on merging with GM, or any other partners for that matter, FCA will refocus on implementing its ambitious five-year investment plan, which would see it dump $52 billion into its various brands, with a particular focus on Alfa Romeo, Maserati, and Jeep. So far the attempt has largely been unsuccessful, especially as it relates to the Italian brands. Earlier this week, additional reports emerged that claimed Alfa was pushing back the Giulia and an unnamed CUV while reassigning resources to updated versions of the Giulietta and MiTo hatchbacks. This is not the first time we've heard about trouble for the Giulia, of course. For Masearti, though, it was the first we'd heard of delays for Alfieri sports car, which allegedly won't appear in 2016, as promised. We can expect a proper breakdown of FCA's adjusted plans when Marchionne and Company reveal an updated product slate next month. Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience. News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Alfa Romeo Chrysler Fiat GM Jeep Maserati Sergio Marchionne FCA

Share price falls on skepticism of Chrysler-Fiat five-year plan

Following this week's Fiat Chrysler extravaganza, where the Italian-American manufacturer announced its plans for the next five years, the Autoblog staff was cautiously optimistic of the company's future. Investors? Not so much.
Fiat saw its shares tumble 12 percent in Wednesday's trading, falling from 8.67 euros ($12.06 at today's rates) to 7.44 euros ($10.35) as of this writing, with blame partly going to the Italian half of the FCA marriage, which recorded a pretty significant drop in profits during the first quarter of this year.
The plan, which will cost around $77 billion over the next several years, is facing criticism from investors thanks in part to a 1.4-percent drop in Fiat's first-quarter profits, to 622 million euros ($862 million). That figure is also short of Bloomberg analysts' projections, which predicted $1.18 billion in profits before taxes, interest and one-time items.

2023 Maserati MC20 Folgore planned with three-motor electric powertrain

Maserati's first new model of the 2020s, the MC20, strays from the path that's leading carmakers towards electrified and connected vehicles. The brand is nonetheless headed in this direction, and Autoblog can reveal it's planning to release a range of battery-powered cars called Folgore, a name which means "lightning" in Italian. Developed in-house, the 800-volt Folgore powertrain consists of one electric motor mounted over the front axle, and two electric motors installed over the rear axle. Sandro Bernardini, the man responsible for the second-generation GranTurismo, told us this configuration is not going to be reserved for high-performance, high-end cars. It will be the norm. And, although the rear motors are bolted into a single unit that's about the size of a modern four-cylinder engine, there is no mechanical connection between them, meaning Maserati's electric models will benefit from true torque vectoring. Ditching gasoline isn't an excuse to stop chasing performance. As we've previously reported, Maserati's first series-produced battery-powered model will be the next GranTurismo, which is tentatively due out in 2021. Motorists who don't want or need an electric car will be able to order the coupe with a version of the 3.0-liter Nettuno V6 engine that powers the recently-unveiled MC20. Speaking of, the mid-engined coupe will become a mid-motored, zero-emissions coupe a little bit later in its production run. It was developed with both electricity and gasoline in mind from the get-go. Bernardini couldn't share concrete technical specifications, but he noted his team is designing the powertrain to achieve maximum range. Engineers notably went to significant lengths to make the motors smaller, lighter, and more efficient, we're told, and the technology will be compatible with 300-kilowatt fast-charging. While performance details are also under wraps, Autoblog learned the electric version of the MC20 will "absolutely be more powerful" than its 621-horsepower gasoline-burning counterpart. It will be heavier, too, but the power hike will more than make up for the weight gain, and its handling won't be adversely affected. Chassis mock-ups confirm the MC20 Folgore will share its basic underpinnings (including its carbon fiber tub and its subframes) with the gasoline-powered model. Its front motor will occupy the space normally reserved for the frunk, while its rear motor will slot neatly between the two wheels.