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Marchionne could become Ferrari CEO

Don't think that just because FCA is spinning off Ferrari into a separate company that Sergio Marchionne is giving up any control. Not only is he already chairman of the Prancing Horse, but he might also become its next CEO after Amedeo Felisa steps down, anonymous insiders claim according to Automotive News Europe. The dual roles would put the sportscar brand's future in Marchionne's hands, while he continues to run FCA. Rumors of Felisa stepping down emerged in July, but Ferrari never made an official announcement. The reports suggested that he could leave in September. Execs at the Prancing Horse are now working to decide on a replacement, but there's nothing official in place yet, according to Automotive News Europe. Felisa might maintain an advisory role after retiring, as well. If Marchionne takes charge, the move would come just as Ferrari becomes a newly independent entity. The Prancing Horse's necessary paperwork is already filed with the US Securities and Exchange Commission, and the IPO is expected in October. Marchionne took over as Ferrari's chairman last year after Luca di Montezemolo's resignation. As boss, he intends to increase production to 10,000 units a year from 7,000 annually under Montezemolo. Among the projects in development is a revived Dino. Related Video:

2016 Ferrari 488 Spider First Drive | Pure, uncut spectacle

The majority of the cars that have rolled out of the gates at Maranello can be described as varying degrees of spectacular. Still, until you settle in behind the wheel, you wonder if a real Ferrari can live up to the hype. The first thing I took note of in the Ferrari 488 Spider was the immense and nearly instantaneous acceleration into questionable speeds. It should have been obvious from the start, but the rate that this car builds speeds still managed to surprise me, like the cold wind on a January morning. You've checked the weather on your phone and you know it's going to be cold, but you still wince with that first sharp breeze on your cheek. It's a totally different sensation than something like the Dodge Viper. The Viper requires deliberate effort for everything. Getting in and out is a pain in the ass. The clutch is long and heavy and the pedal box is tiny. The hefty steering requires some strength, especially at low speeds. The shifter wholly mechanical thing that requires a little more motivation than you would expect. It's not easy and it's not trying to be, just so you're not tempted to underestimate it. By comparison, the Ferrari is cake. The doors open wide allowing easy access, made even easier with the retractable hardtop stowed away. The cabin, while completely covered in black leather, is open enough to not feel claustrophobic. The steering is light but doesn't feel loose and the 7-speed dual-clutch transmission can be left in automatic to make things easier. In sport mode, the exhaust is relatively subdued, allowing you to actually enjoy the stereo should you choose to. But goose the gas and a wave of panic and exhilaration momentarily wash away any other thoughts. The 488 Spider packs a mid-mounted 3.9-liter twin-turbocharged V8 making 661 horsepower and 561 lb-ft of torque. It's not quite the screamer of past Ferrari V8s, but what it lacks in aural excitement it makes up for in brute force. The old 4.5-liter V8 in the Ferrari 458 was powerful, but most of that power was at the top of the rev range. On the other hand, the 488 feels strong in any gear at any RPM. Boost is limited in lower gears, changing the power band in an effort to dull the turbo lag somer. While there isn't a big kick when boost comes on, it doesn't feel quite like a naturally-aspirated engine either. Once you're in boost, complaints seem to fall by the wayside.

Stellantis and LG launch joint venture for North American battery plant

Stellantis has struck a preliminary deal with battery maker LG Energy Solution (LGES) to produce battery cells and modules for North America, as the world's No. 4 automaker rolls out its 30 billion euro ($35 billion) electrification plan. Global automakers are investing billions of euros to accelerate a transition to low-emission mobility and prepare for a progressive phase-out of internal combustion engines. Stellantis and LGES's joint venture will produce battery cells and modules at a new facility with an annual capacity of 40 gigawatt hours (GWh), the two firms said on Monday. No financial details of the deal were provided. The plant is scheduled to start production by the first quarter of 2024, with groundbreaking expected in the second quarter of 2022, the companies said in their statement. Its location is under review and will be announced later. Stellantis, formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, has said it wants to secure more than 130 GWh of global battery capacity by 2025 and more than 260 GWh by 2030. The batteries produced under the deal will supply Stellantis' U.S., Canadian and Mexican assembly plants for installation in hybrid and fully electric vehicles, supporting its goal of e-vehicles making up more than 40% of its U.S. sales by 2030. The company, whose brands include Peugeot, Fiat, Opel and U.S. best-sellers Jeep and Ram, earlier this year announced it would invest more than 30 billion euros through 2025 on electrifying its vehicle lineup. Stellantis has said it would build three battery plants in Europe and two in North America, including at least one in the United States. Intesa Sanpaolo analyst Monica Bosio said the deal was positive, and a further step ahead in Stellantis' electrification process. It comes weeks after Stellantis and its partner TotalEnergies agreed to open up their battery cell joint venture ACC to Daimler, to expand their European sourcing of battery cells. Stellantis is also targeting more than 70% of sales in Europe to be of low-emission vehicles by 2030, and aims to make the total cost of owning an EV equal to that of a gasoline-powered model by 2026. Related video: Green Plants/Manufacturing Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Maserati RAM Citroen Lancia Opel Peugeot Vauxhall Electric Hybrid EV batteries LG