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Share price falls on skepticism of Chrysler-Fiat five-year plan

Following this week's Fiat Chrysler extravaganza, where the Italian-American manufacturer announced its plans for the next five years, the Autoblog staff was cautiously optimistic of the company's future. Investors? Not so much.
Fiat saw its shares tumble 12 percent in Wednesday's trading, falling from 8.67 euros ($12.06 at today's rates) to 7.44 euros ($10.35) as of this writing, with blame partly going to the Italian half of the FCA marriage, which recorded a pretty significant drop in profits during the first quarter of this year.
The plan, which will cost around $77 billion over the next several years, is facing criticism from investors thanks in part to a 1.4-percent drop in Fiat's first-quarter profits, to 622 million euros ($862 million). That figure is also short of Bloomberg analysts' projections, which predicted $1.18 billion in profits before taxes, interest and one-time items.

Stellantis will enter joint venture with Samsung SDI for EV batteries

SEOUL — South Korean battery maker Samsung SDI Co Ltd and global automaker Stellantis NV have agreed to jointly produce electric vehicle (EV) batteries for the North American market, a person familiar with the matter said on Tuesday. Samsung SDI, an affiliate of South Korean tech giant Samsung Electronics, already has EV battery plants in South Korea, China and Hungary, which supply customers such as BMW and Ford. "The two companies (Samsung SDI and Stellantis) have struck a MOU (memorandum of understanding) to produce EV batteries for North America," the person with knowledge of the matter told Reuters. The source spoke of condition of anonymity because of the sensitivity of the matter. The person said the location of the battery joint venture is under review and will be announced later. In July, Reuters reported that Samsung SDI may build a battery plant in the United States, citing a company source. South Korea's Yonhap news agency earlier reported the two companies plan to build a factory in the United States, citing industry sources. Samsung SDI and Stellantis did not have immediate comment when reached by Reuters. Stellantis on Monday struck a preliminary deal with battery maker South Korea's LG Energy Solution (LGES) to produce battery cells and modules for North America. Shares of Samsung SDI were up 2.6% as of 0300 GMT, versus a 0.6% rise in the KOSPI benchmark index. Related video: Green Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Maserati RAM Citroen Lancia Opel Peugeot Vauxhall

Maserati MC20 appears in artsy, blurry teaser

Maserati said it's entering a new era. Judging by these teaser shots of the a camouflaged MC20 prototype supercar, it's clear Maserati plans to strut its way into that new era con il coraggio and braggadocio. Maserati took its future flagship to the Piazza degli Affari in Milan, for a set of mostly blurry photos in front of Italian artist Maurizio Cattelan's sculpture called "L.O.V.E." Maserati called the artwork "a symbol of Italian audacity in international contemporary art," for the sake of clarity, we'll call it a giant marble bird flipped at anyone who might ask, "You talkin' to me?" The MC20 is thought to be built around the carbon chassis laid up for the 4C, stretched lengthwise and across to create an overall larger package. We can't tell much about the real masterpiece in the photos, but it is clear the MC20 prototype has shed its gawky bodywork borrowed from the Alfa Romeo 4C to slip into something more comfortable. A very Maserati nose leads with a large grille and sits prominently ahead of the other bodywork. Behind that, an Italianate supercar form combines plenty of intakes, deep side skirts, a seamless rake to the backlight, and a short rear overhang. In back, powertrains developed at Maserati and for Maserati should make all sorts of lusty noises. The top powertrain is expected to be a hybrid V6 with three electric motors and around 600 horsepower, there's hearsay about an all-electric model, and rumors of a turbocharged V8 won't die. The only gearbox mentioned so far is an eight-speed dual-clutch shooting power to the rear wheels. Autoevolution believes the hybrid engine will translate into a sprint to 62 miles per hour in around two seconds and a top speed beyond 186 miles per hour, just the kind of giddy-up one would expect from a challenger aimed at the Lamborghini Huracan Evo. If anything, 600 hp sounds conservative seeing as the Alfa Romeo Giulia GTA gets 540 hp from its 2.9-liter turbocharged V6 without electric help. The MC20 will take on Lamborghini's championship-winning finest on the track, too, the MC20 — for Maserati Corse 2020 — surely headed for an FIA entry in track-only form. For now, the MC20 continues its driving program to prepare for its debut in May. The coupe version should come first, going on sale in Europe late this year and in the U.S. sometime next year, followed by a convertible variant.