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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.

Electric Maserati GranTurismo Folgore will have over 1,200 horsepower

Maserati is in the midst of a renaissance. It released the MC20 in 2020, it's preparing to unveil the Grecale, and it confirmed that its first electric model will be an evolution of the next-generation GranTurismo with over 1,200 horsepower from three individual motors. Speaking during a press conference, company boss Davide Grosso shared official details about the second-generation coupe due out in 2023. The electric model called Folgore in Maserati-speak will offer "way over 1,200 horsepower" from three electric motors linked to what the carmaker calls a "bone" battery pack. We're guessing that means the unit will feature internal structure similar to bone, or be centrally mounted along the transmission tunnel, and not that it will be made with actual bones. Regardless, an 800-volt charging system and Formula E-sourced technology will be on board as well. Maserati also published additional images of the second-generation GranTurismo. It's still covered in camouflage, but we can tell that the front end borrows a handful of styling cues from the MC20 while the overall proportions haven't significantly changed. It's still a big coupe with sporty lines characterized by a long hood and a short decklid. The GranCabrio convertible is scheduled to make a comeback as well. The electric Folgore model will be positioned at the top of the line-up, but it won't be the only version available at launch. Maserati revealed that at least one V6-powered variant will be offered as well, a comment which hints (but doesn't confirm) that there will be no V8. "The market for a gasoline-powered version is still there. It's absolutely still there. What we want to do with Folgore is to give customers a choice: V6, or electric? In five or 10 years we likely wouldn't have developed it, but customers still enjoy these cars today," said Francesco Tonon, the firm's global head of product planning, during a conference call. He stopped short of providing details about the V6, though it's not terribly far-fetched to assume that it will be at least related to the excellent twin-turbocharged Nettuno unit that powers the MC20. Numerous other electric cars will join the Maserati line-up in the coming years, and the firm's full range will run on batteries by 2030. EV variants of the Grecale and the next-generation GranCabrio are scheduled to make their debut in 2023, and they'll be joined by an electric version of the MC20 in 2025.

Pony cars, trucks and Italian SUVs | Autoblog Podcast #552

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor Alex Kierstein and Associate Editor Reese Counts. We discuss the updated 2019 Chevy Camaro Turbo 1LE variant, the new 2019 GMC Sierra Denali, and the Ferrari-powered Maserati Levante GTS. We also debate whether Volkswagen should build the Atlas-based Tanoak pickup truck and what a delay means for the next-gen Ford Mustang. Finally, we answer a reader question about the state of Lexus.Autoblog Podcast #552 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2019 Chevy Camaro Turbo 1LE 2019 GMC Sierra 2019 Maserati Levante GTS Should Volkswagen build the Tanoak? Next-gen Ford Mustang delayed The past, present and future of Lexus Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Podcasts Chevrolet Ford GM GMC Lexus Maserati RAM Truck Coupe SUV Luxury Performance