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Fiat Chrysler Automobiles targets mid-October IPO

The merged Fiat Chrysler Automobiles is targeting October 13 to launch its initial public offering on the New York Stock Exchange, CEO Sergio Marchionne told reporters assembled for a meeting in Rimini, Italy.
"The most likely date for the listing in the US is October 13," Marchionne said, according to Reuters.
Marchionne is trusting that the money made in the IPO will be contribute heavily his ambitious, $64-billion five-year growth plan, which will see FCA reboot Alfa Romeo and Maserati and expand Jeep's global presence. Should the IPO fall short, though, Marchionne has confirmed that "all decision [sic] on any capital increase will be taken by the board of FCA at the end of October."

Ferrari to be spun off from Fiat Chrysler

The recently merged Fiat Chrysler Automobiles empire has ambitious plans for growth, and it's going to need some big bucks in its coffers in order to enact them. Part of that cash injection is coming from the floating of its IPO on the New York Stock Exchange, but now FCA has announced a further capital campaign to be based on the enormous asset that is Ferrari.
FCA's board of directors has just approved the separation of Ferrari from the rest of the group as a separate entity. Once that separation is complete, Ferrari will put 10 percent of its shares on the stock market "in the United States and possibly a European exchange" as well.
This isn't the first time that the idea of a Ferrari IPO has been raised. Sergio Marchionne, chief executive of Chrysler, Fiat and Ferrari (pictured above), first raised the idea four years ago. Former Ferrari chairman Luca di Montezemolo nixed the idea, but now that he's been discharged, it appears there's nothing to get in the way of Marchionne's desires.

Fiat 600e unveiled as a retro-flavored, 500-inspired crossover

Fiat's model offensive continues with the launch of a crossover named 600e. Developed primarily for the European market, the soft-roader borrows several heritage-laced styling cues from the latest version of the 500, and it will be offered with hybrid and electric drivetrains. Named after one of Fiat's all-time best-sellers, and built on the same platform as the Jeep Avenger, the 600e stretches approximately 164 inches long, 70 inches wide, and 60 inches tall. It's about three inches shorter and lower than the 500X, and both models feature similar proportions, but the 600e isn't the 500X's direct replacement — the two models will be sold side-by-side for an undetermined period of time. Visually, the 600e borrows several styling cues from the 500e, including oval headlights with LED accents. There's no "Fiat" emblem on the front end, the bumpers wears a "600" badge, while the bottom part of the bumper gets a big, body-colored air vent. The 500e influence continues out back with vertical lights. Black accents on the bumpers, wheel arches, and rocker panels add a rugged touch to the design. The similarities between the 600e and the 500e continue inside, and that's not a bad thing — the 500e's interior impressed us when we drove a European-market model in Italy earlier in 2023. The driver faces a two-spoke steering wheel, a seven-inch digital instrument cluster with a refreshingly simple design, and a 10.25-inch touchscreen for the Uconnect infotainment system. Fiat added several clever features, including a folding cover for the center console's storage compartment, and the 600e offers approximately 12.7 cubic feet of trunk space. Fiat will add a gasoline-electric hybrid powertrain to the 600e range during the first half of 2024. Until then, the crossover will exclusively be offered with an electric drivetrain that consists of a 54-kilowatt-hour lithium-ion battery pack and a 154-horsepower motor that zaps the front wheels into motion. Driving range checks in at up to 248 miles when tested using Europe's WLTP cycle, which leans towards the optimistic side of the scale, and the system is compatible with 100-kilowatt fast-charging. Fiat quotes nine seconds to reach 62 mph from a stop. On sale now, the Fiat 600e will reach European showrooms in September 2023. There's no word on whether we'll see it in the United States. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.