Carbon Ceramics+carbon Fibre Zone+daytonas+shields+power Seats+hifi+challenge Ri on 2040-cars

Auto blog

Marchionne: all-electric Ferrari 'an obscene concept'

At the 2016 Geneva Motor Show, Ferrari Chairman Sergio Marchionne told reporters that Ferrari is not interested in building an all-electric car. "With Ferrari, it's almost an obscene concept," were his exact words. He added, "You'd have to shoot me first." This brings to mind another quote, this from Enzo Ferrari himself: "Aerodynamics are for people who can't build engines." Ferrari is, in its heart of hearts, an engine company. As Enzo Ferrari also said, "I build engines and attach wheels to them." Ferrari engines are beautiful things, as are the cars they power. There's a reason the Italian automaker displays its powerplants in its cars under glass like precious works of art. Of course, Ferrari did end up focusing on aerodynamics despite Enzo's remark. In racing as in business, you adapt or you get left behind. If you visit Ferrari's website, you can find a section on innovation. It's clear that the automaker prides itself on its technological advances (including aerodynamics, of course). It also values being a leader. "Each new model brims with technological innovation," it says, "solutions that pave the way for the rest of the industry and which are often picked up by other manufacturers at a later date." Ferrari follows nobody. The Italian marque may pride itself on being a holdout. As an automaker, it does things in the spirit of Ferrari, which is to say in the spirit of Enzo Ferrari. Former Ferrari Chairman Luca di Montezemelo said in 2011, "You will never see a Ferrari electric because I don't believe in electric cars, because I don't think they represent an important step forward for pollution or CO2 or the environment." Sports car manufacturers — Ferrari included — turn to electrification not just for efficiency, however, but also for performance. An electric motor can do certain things that an internal combustion engine simply can't. Who doesn't like being able to summon up loads of torque the very instant they first put a little pressure on the gas pedal? EVs can be spectacular to drive. Take the Mercedes-Benz SLS AMG Electric Drive and the Tesla Model S as proof of that. Marchionne's argument comes down to sound. He was not thrilled by the aural experience of driving a Tesla. Anyone with ears loves the sound of a Ferrari engine. Enzo said, "Race cars are neither beautiful nor ugly. They become beautiful when they win." While he was speaking about a car's visual aesthetic, it certainly applies to a car's sound profile as well.

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:

Mike Manley named CEO of FCA amid Sergio Marchionne health crisis

Mike Manley has been immediately granted "all the powers of CEO" of Fiat Chrysler Automobiles. In a statement, FCA said its Board of Directors made this decision "in order to provide for his full authority and operational continuity for the company." Manley, who has been at the helm of Jeep since 2009 and Ram since 2015, is expected to be named an executive director for FCA after the next shareholder's meeting. In a similar statement, Ferrari said it had "named John Elkann as Chairman and will propose to Shareholders, at a meeting to be called in the coming days, that Louis C. Camilleri be named as CEO." CNH Industrial, a company that makes trucks, agricultural, and industrial equipment and which Marchionne also chairs, named Suzanna Heywood, as his replacement. Sergio Marchionne, who had served as CEO of both FCA and Ferrari, suffered "unexpected complications" as he was recovering from surgery performed earlier this month. FCA's statement adds that these complications "have worsened significantly in recent hours." Marchionne, credited with rescuing Fiat and Chrysler from bankruptcy since taking the wheel at the Italian carmaker in 2004, had been due to step down as the head of Fiat Chrysler next April. His internal successor had yet to be named. Marchionne had previously said he planned to stay on as Ferrari Chairman and CEO until 2021.Reuters contributed to this report.Related Video: Image Credit: Mark Thompson/Getty Hirings/Firings/Layoffs Chrysler Ferrari Fiat Sergio Marchionne