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Ferrari and FCA are officially separated

It's been a long time in the making, but it's officially happened: Ferrari is no longer part of Fiat Chrysler Automobiles. Following the Italian automaker's initial public offering, it has officially split off from its former parent company. As part of the spin-off, FCA's stakeholders will each receive one common share in Ferrari for every ten they hold in Fiat Chrysler. Special voting shares will be distributed in the same proportions to certain shareholders as well. Those shares being distributed will account for 80 percent of the company's ownership. Another ten percent was floated as part of the company's IPO, while the remaining 10 percent is held by Enzo's son Piero Ferrari (pictured above at center), who serves as vice chairman of the company. The shares will continue to be traded under the ticker symbol RACE on the New York Stock Exchange, and will begin trading this week as well under the same symbol on the Mercato Telematico Azionario, part of the Borsa Italiana in Milan. Since the extended Agnelli family headed by chairman John Elkann (above, right) holds the largest stake in FCA, expect it to continue controlling the largest portion of Ferrari shares as well. Between them, nearly half of the shares in the supercar manufacturer – and we suspect a little more than half of the voting rights – will be controlled by the Agnelli and Ferrari families, who are expected to cooperate to ensure the remaining shareholders don't attempt a takeover of the company. Similar to its former parent company, which operates out of Turin and Detroit, the Ferrari NV holding company is nominally incorporated in the Netherlands, but the automaker will continue to base its operations in Maranello, Italy. That's where it's always been headquartered, on the outskirts of Modena. For the time being, Sergio Marchionne (above, left) remains both chairman of Ferrari and chief executive of FCA – a position to which he is not unaccustomed, having previously headed both Fiat and Chrysler before the two officially merged. Related Video: Separation of Ferrari from FCA Completed LONDON, January 3, 2016 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) and Ferrari N.V. ("Ferrari") (NYSE/MTA: RACE) announced today that the separation of the Ferrari business from the FCA group was completed on January 3, 2016. FCA shareholders are entitled to receive one common share of Ferrari for every 10 FCA common shares held.

Fiat 500 Abarth appears in its fastest form yet

Fiat ended the Abarth-trained 500's career in the United States, but the fun-sized hot hatch is still around in Europe. It just spawned a new limited-edition model named 695 EsseEsse that's lighter and quicker than the production car. Offered exclusively as a hatchback, the 695 EsseEsse wears a redesigned hood that weighs 25% less than the standard car's because it's made out of aluminum instead of steel. If you're taking notes for a car-spotting trip to Italy, keep in mind the new-look panel features a pair of domes not found on the standard 695. Out back, the EsseEsse inherits a sizeable spoiler from the 70th Anniversary model whose angle can be manually adjusted from 0 to 60 degrees. When set to 60 degrees, the wing provides up to 93 pounds of additional downforce. Abarth made no major mechanical modifications to the 695, so power comes from a turbocharged, 1.4-liter four-cylinder engine tuned to develop 180 horsepower and 184 pound-feet of torque. It spins the front wheels via a five-speed manual transmission operated with a carbon fiber shift knob, and it exhales through an Akrapovic exhaust system that's lighter than the unit fitted to the standard 695. We're told it sounds better on and off the track, too. Hitting 62 mph from a stop takes 6.7 seconds, and Abarth quotes a top speed of 140 mph when the rear wing is set to 0 degrees. Koni shock absorbers ensure the EsseEsse is just as thrilling on a twisty road as it is in a straight line. Abarth will make 1,390 units of the 695 EsseEsse, and production will be split evenly between Scorpion Black (pictured) and Campovolo Gray. Pricing hasn't been announced yet, but it's of little interest to American enthusiasts because nothing suggests the 500 and its Abarth-tuned derivative will make a comeback in the United States. What's in a name? Rewind to 1964, when the 500 used a rear-mounted air-cooled engine and Abarth operated as a tuner rather than as a sub-brand. It transformed the tiny 500 into a sports car by increasing the two-cylinder's displacement to 690 cubic centimeters (42.1 cubic inches) and fitting it with wider wheel arches, among other modifications. The end result was a 38-horsepower pocket rocket capable of reaching 87 mph, an unbelievable speed at the time.  Abarth named its creation 695 SS, and it wrote out the acronym on the engine cover instead of using the two letters. It's like if Chevrolet had fitted "Impala EssEss" badges to the Impala SS. Production was capped at 1,000 units.

This sweet Fiat 500 Lego kit could be a reality if it gets enough support

Lego has been on a roll the last couple years with kits for automotive gearheads, and there's no end in sight. The company just released a sweet VW Beetle kit and will soon launch a Caterham kit. That's no reason not to ask for more though, so we encourage you to support this Fiat 500 project. The project is on the Lego Ideas website, where people can upload projects to share with other builders. The website also lets people support their favorite projects, and with enough votes, the kit will officially be considered for production. In fact, that's what happened with the aforementioned Caterham kit. Why support this Fiat project, though? Well, just look at it. The quality is excellent, which is evident by how well the compact and curvy lines of the little Italian are captured in the blocky medium. It also has all the details consistent with Lego's most recent kits such as badge and license plate stickers, a comprehensive interior with pedals and tilting seats, opening doors, and a tiny brick version of the two-cylinder engine. The creator, who interestingly goes by the name saabfan, also added special touches like a removable luggage rack and a sunroof that can be opened up. And wouldn't the Fiat 500 be an excellent complement to Lego's Beetle and Mini Cooper kits? Even if this project receives enough support, it's no guarantee that it will make it to production. Licensing would be a big road block to a retail release, but it's not impossible. So check out the video above to see some of the great details, and head over to the project page to vote for it. Related Video: News Source: saabfan / Lego IdeasImage Credit: Gabrele Zannotti Toys/Games Fiat Hatchback Videos Lego cinquecento lego ideas