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Alfa Romeo Zagato-designed Giulia-derived coupe previewed

Alfa Romeo's long-awaited return to the coupe segment may be imminent. The company published an enigmatic preview image on its social media channels that shows the rear end of what's labeled the "Giulia SWB Zagato," and it pledged to release more details in the near future. While there's not much we can glean by looking at the dark teaser, we can at least say with near-certainty that the coupe won't look much like the Giulia when viewed from the back. The photo depicts a thin strip of LEDs that seemingly stretches across the entire rear end, and the basic silhouette is vaguely reminiscent of the Giulia TZ (Tubolare Zagato) and TZ2 coupes built in very limited numbers during the 1960s. Beyond that, your guess regarding what we're looking at is as good as ours. The name strongly suggests that the coupe will be Giulia-based, shorter than the sedan, and designed jointly with Zagato. Company boss Jean-Philippe Imparato has previously confirmed that the two-door model will make its debut at some point in 2023 and he clarified that it will be "very exciting, very selective, and very expensive." To us, it sounds like the coupe will land as a limited-edition model rather than as a regular-production addition to the company's range. What the coupe will be powered by is up in the air as well. Given the Giulia-derived platform, we wouldn't be surprised if power comes from a version of the 2.9-liter, twin-turbocharged V6 that powers the range-topping Quadrifoglio. The six develops 505 horsepower and 443 pound-feet of torque in Alfa Romeo's BMW M3 fighter but those figures could increase in the coupe. Rear-wheel-drive should come standard. Alfa Romeo will publish additional details about the Giulia SWB Zagato in the coming weeks, and we'll see the coupe by the end of 2023. Related video: Design/Style Alfa Romeo Coupe Luxury Performance

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.

Stellantis tells UK: Change Brexit deal or watch car plants close

LONDON - British car plants will close with the loss of thousands of jobs unless the Brexit deal is swiftly renegotiated, Stellantis has told the UK parliament, the latest in a series of warnings from the industry since the country left the European Union. The world's No. 3 carmaker by sales and owner of 14 brands including Vauxhall, Peugeot, Citroen and Fiat said that under the current deal it would face tariffs when exporting electric vans to Europe from next year, when tougher post-Brexit rules come into force. "If the cost of EV (electric vehicle) manufacturing in the UK becomes uncompetitive and unsustainable, operations will close," Stellantis said in a submission to a House of Commons committee examining the prospects for Britain's EV industry. Stellantis urged the government to reach an agreement with the European Union about extending the current rules on the sourcing of parts until 2027 instead of the planned 2024 change. In response, a government spokesperson said the business secretary had raised the issue with the EU. "Watch this space, because we are very focused on making sure that the UK gets EV and manufacturing capacity," Britain's finance minister Jeremy Hunt said on Wednesday at a British Chambers of Commerce event. The potentially existential problem facing Britain's car industry is closely tied to the shift to EVs. Under the trade deal agreed when Britain left the bloc, 45% of the value of an EV being sold in the European Union must come from Britain or the EU from 2024 to avoid tariffs. The problem is that a battery pack can account for up to half a new EV's cost. Batteries are also heavy and expensive to move long distances. Experts have been warning since Britain left the EU at the end of 2020 that the country would need a number of EV battery gigafactories or potentially lose a hefty chunk of its car industry. Only Japan's Nissan has a small EV battery plant in Sunderland, with a second one on the way. Cost of failure Britishvolt, a startup which received UK government support for an ambitious 3.8 billion pound ($4.80 billion) battery plant at a site in northern England, filed for administration in January after struggling to raise funds. The company was then bought by Australia's Recharge Industries, which has yet to unveil plans for the site.