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Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video:

Worker crushed to death at FCA's Jefferson North Assembly Plant [UPDATE]

Tragedy has struck a Fiat Chrysler factory. According to emerging reports, a worker was killed at the Jefferson North Assembly Plant early this morning in Detroit. The incident reportedly occurred in the waste water treatment facility at the plant, just after 7 a.m. this morning. The 53-year-old worker, whose name has not yet been released, is said to have been crushed in a press and was pronounced dead at the scene. The incident is currently under investigation to determine the exact circumstances. Jefferson North is where FCA assembles the Jeep Grand Cherokee and Dodge Durango. The plant is located on Conner Street near East Jefferson Avenue in Detroit. We've reached out to FCA US for the official statement, and will update you as soon as more details are available. Our condolences go out to the late worker's family and friends. UPDATE: Official statement from FCA added below. FCA US has had a tragic accident at its Jefferson North Assembly Plant during the first shift this morning. A plant employee died at the waste water treatment plant. The Company is currently working with local officials to investigate the incident. The name of the employee is not being released at this time. All of the FCA family extends its deepest sympathies to the employee's family during this difficult time.

2022 Detroit Auto Show Editors' Picks

As tends to be the case in this post-ish-pandemic world of auto shows, the North American International Auto Show was a strange one. It was at least mostly indoors and thus not at the mercy of Mother Nature. And unlike that first Chicago Show following the initial pandemic shutdown, this one was all assembled before the media arrived. Even with a much thinner show floor, the Detroit Auto Show still gave us a number of noteworthy reveals. Now, full disclosure, the rules for our Detroit picks were made a little more flexible, since some of these vehicles were revealed a little before the week of the show. But we still focused on vehicles that were making their show debut, and were actually present on the floor. Sadly, that means we had to leave out the Jeep Recon and Wagoneer S electric SUV concepts. Odds are, those would've made it into our list of the top five if they had actually been on display. Now, on to the winners. 2023 Jeep Wrangler Willys 4xe View 18 Photos 5. 2023 Jeep Wrangler Willys 4xe This was an easy one. While there's nothing so remarkable about the Willys that it makes this package a must-buy, it's nice to see another model available with the 4xe powertrain. Just one question, though: Where was the Recon? – Byron Hurd Chevrolet Blazer EV View 7 Photos 4. 2024 Chevy Blazer EV As a fan of the K5 and S-10 Blazer generations, I was a bit bemused when the current-gen crossover came out ... until I drove it and realized how good it actually is. Now that there's a Blazer EV incoming, I feel like I can become a true fan again. And there's a lot for fans to appreciate: FWD, RWD and AWD versions, and even a 557-horsepower SS variant. In a lineup of practical, Ultium-based Chevy utes, it's good to see an attainable product that enthusiasts can get behind — along the lines of Ford with its Mustang Mach-E — while we wait for an electric Corvette. — Senior Editor, Green, John Beltz Snyder 2023 Chrysler 300C View 28 Photos 3. 2023 Chrysler 300C In a poignant press conference with the Spirit of Detroit statue in the background, Chrysler sent its flagship 300 out properly with a 6.4-liter Hemi V8. Stellantis design chief Ralph Gilles articulated the car's successes — its many awards and sterling reviews from its early days — and the cover came off with a veritable 300C hot rod on display. One more time, the 300 is at full strength. To be clear, this isn't the 300S with an available 5.7-liter.