2013 Fiat 500 Abarth Like New on 2040-cars

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EIB ups financing for Fiat Chrysler's electric vehicles to $949 million

MILAN — The European Investment Bank (EIB) has increased to almost 800 million euros ($949 million) its funding to Fiat Chrysler Automobiles (FCA) to support production of electric and hybrid vehicles, they said in a joint statement. Investments to manufacture battery electric vehicles and plug-in hybrid electric vehicles will be mainly directed at FCA plants located in southern Italy, supporting employment and compliance with the strictest environmental criteria. To improve capacity utilization at FCA's Italian plants, the group has announced a 5 billion euro investment plan for the country through 2021 which envisages the launch of new electric and hybrid models. EIB and FCA had sealed 300 million euros in financing before the summer to fund investments for plug-in hybrid electric vehicle production lines at plants in Melfi, in the southern Basilicata region, and battery electric vehicles at Fiat's historic Turin plant of Mirafiori over the 2019-2021 period. FCA has now finalized a 485 million euro deal with EIB to support both an innovative line of plug-in hybrid electric vehicles at the Pomigliano plant in the southern Campania region as well as R&D activities at FCA laboratories in Turin. The EIB credit line covers 75% of the total value of FCA's investment in the project for the 2020-2023 period. Earnings/Financials Green Plants/Manufacturing Chrysler Fiat

Second-generation Fiat 500 grows up, goes electric, gets posh

Going to the design well to reinvent an icon is difficult, especially when it's one of your greatest hits, so Fiat walked a thin line as it developed the first new 500 since 2007. Unveiled online, the hatchback is just as huggable as its predecessor — which is sticking around — and it honors tradition while embracing cutting-edge technology. Motorists long nourished on a diet of value-packed, bargain-priced Fiat models are in for a rude surprise. The new 500 rubs elbows with respected luxury cars, at least on paper, and it has morphed into more of an Instagram-friendly fashion statement than a genuine people's car. Stylists brought its retro-inspired design into the 2020s without completely reinventing it. It's still shaped like the 500 you're familiar with, though it's a little bit longer and wider than before and its wheelbase gains about an inch. Its front fascia wears a unmissable 500 emblem flanked by bright trim, its headlights are mounted higher and integrated into the hood, and its door handles are chiseled into the body. Out back, the vertical lights return with a more sculpted design. The line-up will ultimately include the quasi-convertible shown here, a hardtop, plus a wagon called Giardiniera and envisioned as a modern interpretation of the eponymous long-roof sold from the 1950s to the 1970s. Bigger changes welcome the passengers into the cabin. The driver sits behind a two-spoke steering wheel and a configurable, 7.0-inch digital instrument cluster, while a 10.25-inch touchscreen propped up on the dashboard displays a new version of the well-regarded Uconnect infotainment system. It looks decidedly more upmarket than the 500 it replaces, though it's difficult to tell without seeing in person and sitting in it — thanks, coronavirus. Fiat made the new 500 all electric, all the time. It's built on a 42-kilowatt-hour lithium-ion battery pack that zaps a 118-horsepower electric motor into motion. Its maximum driving range checks in at 199 miles, though the Italian firm obtained that figure by putting its city car through the optimistic WLTP testing cycle. It takes nine seconds to reach 62 mph from a stop, it has a 93-mph top speed, and plugging it into an 85-kilowatt charger fills 80% of the battery in 35 minutes. Alternatively, you'll need to wait 14 hours for a full charge if you plug it into the same household-spec outlet you use to keep your phone and your laptop juiced up.

Fiat Chrysler's third-quarter operating profit exceeds expectations

MILAN — Fiat Chrysler on Thursday posted higher than expected operating earnings in the third quarter, lifted by record profitability in North America, as the carmaker heads to a merger with French rival PSA. The strong results led Fiat Chrysler (FCA) to reiterate its full-year guidance of adjusted earnings before interest and tax (EBIT) over 6.7 billion euros ($7.5 billion). It also expects a further improvement of its financial performance in 2020. FCA and PSA said earlier on Thursday they planned to join forces through a 50-50 share swap to create the worldÂ’s fourth-largest automaker, triggering a new wave of consolidation in the car industry. Earnings/Financials Chrysler Fiat