1955 Chrysler Imperial Newport Coupe on 2040-cars

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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.

Chrysler Airflow being redesigned and renamed for production

The Chrysler Airflow concept is dead in name and form. Motor Trend spoke to Stellantis design chief Ralph Gilles, who said brand CEO Chris Feuell "wanted a statement that had literally zero to do with anything that you have seen today, even the Airflow concept car. It is evolving in a new direction." When MT spoke to Feuell about the name, she said, "There is a group of people who love the Airflow name and just as many who beg us not to use it." The magazine believes a new-to-the-brand name will get the nod, Chrysler perhaps hoping to perform a hard reset on buyer perceptions. The redesign is far enough along to have been previewed in Los Angeles earlier this year, Feuell saying reactions tell them "we have a hit on our hands," Gilles saying "It blew the doors off." We won't see it until next year, and no one at the brand has offered a clue about how it's changed from the Airflow concept now a couple of years old. We know Feuell is plotting a remake of the entire the Chrysler experience, from shopping its products online and at dealers to after-sales care. She's said before she wants Chrysler to become Stellantis' "startup brand," offering "clean mobility, seamless technology," and affordable pricing. Affordable doesn't mean what it used to mean, so we don't know where product planners intend to slot the coming vehicles. Tesla buyers have been mentioned as one of Feuell's targets, but we're clearly still in the early days of transformation when marketing Venn diagrams encompass aspirations and projections that will be whittled out as production nears. Even for all that, the Airflow didn't scream "Chrysler transformed!" save for its battery-electric powertrain. Chrysler's tracking like Jaguar at the moment, with a lean range for dealers until the EV revolution begins in 2025. And as with Jaguar, considering how long Chrysler's plateaued, putting it kindly, it's not surprising the boss wants a more compelling wrapper. When the Pentastar's two-row crossover debuts, it will sit on the STLA Large platform, offer 400- and 800-volt electrical architectures, and pack batteries that power up to 400 miles of range. More important, it will establish the baseline for the product overhaul leading to an entirely new portfolio by 2028. We'd love to see Chrysler get it right. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Stellantis says its 2021 performance has been better than expected

MILAN — Stellantis softened up investors ahead of its electrification strategy event on Thursday by flagging that 2021 got off to a better-than-expected start despite a chip shortage that has hit automakers worldwide. Stellantis, which was formed in January from the merger of Italian-American automaker Fiat Chrysler and France's PSA, faces an investor community keen to hear how it plans to come up with a range of electrified vehicles (EVs) to rival Tesla. At its "EV Day 2021" kicking off at 1230 GMT, Stellantis will disclose significant investments in electrification technology and connected software as it aims to be an industry frontrunner, it said in a statement. In April, Chief Executive Carlos Tavares said it would offer low-emission versions — either battery or hybrid electric — of almost all of its European models by 2025, and they should make up 70% of European sales and 35% of U.S. sales by 2030. Stellantis, the world's fourth-biggest automaker, has 14 brands in its stable, including Jeep, Ram, Opel, Fiat, Peugeot and Maserati.   Stellantis EV Day coverage: Dodge will launch the 'world's first electric muscle car' in 2024 Fully electric Ram 1500 will begin production in 2024 Jeep will have 4xe plug-in hybrid models across the lineup by 2025 Stellantis teases mystery electric Chrysler concept Stellantis previews 4 electric platforms: Here's how they'll be used Fiat says all Abarth models to be electric from 2024 Opel Manta E will be the electric revival of the classic German coupe Stellantis says its 2021 performance has been better than expected   At a similar EV strategy event last week, French rival Renault announced that 90% of its main brand models would be all-electric by 2030, whereas previously it had included hybrids in its target. Germany's Volkswagen, the world's second-biggest automaker after Toyota, expects all-electric vehicles to make up 55% of its total sales in Europe by 2030, and more than 70% of sales at its Volkswagen brand. Stellantis said its margins on adjusted operating profits in the first half of 2021 were expected to exceed an annual target of between 5.5% and 7.5%, despite production losses due to a global shortage of semiconductor supplies. Stellantis shares listed in Milan were down 2.6% at 0920 GMT, underperforming the broader European car index. Bestinver analyst Marco Opipari said Thursday's news was positive but that the stock was suffering from profit taking as it had moved up about 20% since the end of April.