1998 Ferrari 355 Gts Targa on 2040-cars

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Stellantis and Foxconn's new joint venture will focus on connectivity

MILAN — Carmaker Stellantis and TaiwanÂ’s Foxconn announced plans to develop a jointly operated automotive supplier focusing on technology to make vehicles more connected, including artificial intelligence-based applications and 5G communications. Stellantis CEO Carlos Tavares said the services that will be developed through the tie-up “will mark the next great evolution of our industry,” alongside fully electrified and hybrid powertrains. The deal brings together Stellantis, the worldÂ’s 4th-largest automaker formed this year by the merger of Fiat Chrysler Automobiles and PSA Peugeot, and Foxconn, a major supplier of iPhones. The companies said the venture would focus on such services as infotainment, the integration of telecommunications and computer systems, artificial intelligence-based applications, 5G communications, e-commerce channels and smart cockpit integration. The companies announced a non-binding memorandum of understanding to form a 50-50 joint venture called Mobile Drive, which will be based in the Netherlands and function as an automotive supplier also to other carmakers. The new venture will combine advanced consumer electronics, Human-Machine Interfaces (HMI) to create new services “that will exceed customer expectations,” the companies said in a release. “Customers today and, in the future, demand and expect ever-increasing software-driven and creative solutions to connect the drivers and passengers with the vehicle inside and out,Â’Â’ Foxconn Chairman Young Liu. Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot 5g Connectivity Stellantis Foxconn

Ferrari stock falls after new CEO calls Marchionne's goals ‘aspirational’

MILAN — Ferrari's new boss sought to reassure investors that he would execute midterm targets set by his predecessor, Sergio Marchionne, but the stock has fallen by 12.5 percent since Wednesday after he described the goals to 2022 as "aspirational." Louis Camilleri was appointed chief executive of the Italian supercar maker on July 21, succeeding Marchionne, who fell seriously ill and later died after suffering complications following surgery. The sudden change jolted investors who had expected Marchionne, who nearly tripled Ferrari's value since taking it public in 2015, to stay on as CEO and chairman until 2021. It also left Camilleri, 63, to finish scripting a midterm strategy that will be presented in September and is meant to show how the company plans to achieve financial targets unveiled earlier this year, notably a goal to double core earnings to 2 billion euros ($2.33 billion) by 2022. In a post-results conference call with analysts, Camilleri said he and Marchionne, with whom he had interacted for years, shared the same ambitions for the company. The tobacco veteran, chairman and former CEO of Philip Morris International has served on the Ferrari board since 2015, while Marchionne in turn sat on the board of PMI. Asked about how he planned to deliver on the targets set by his predecessor, Camilleri said he would provide details during capital market days to be held on Sept. 17-18 at the company's headquarters in Maranello, Italy. "They are aspirational targets. At the capital markets day, we will tell you how we plan to get there," he said. "We will also have to disclose potential risks to that, but also significant opportunities that we see going forward." Ferrari's Milan-listed shares fell after the comments, and its shares on the New York Stock Exchange fell from a Wednesday high of $134.77 to $117.99 on Thursday morning. Tough act to follow At Ferrari, Camilleri has a tough act to follow. Marchionne orchestrated Ferrari's spinoff from parent Fiat Chrysler, positioned it as a luxury icon rather than a car manufacturer, and managed to do what few thought possible: sail through a self-imposed cap of 7,000 vehicles per year without sacrificing pricing power and exclusive appeal. When its share price hit a record high of 129.90 euros in June, the company that sold just under 8,400 vehicles last year was worth around 24 billion euros, almost as much as Fiat Chrysler, which shipped 4.7 million cars.

2016 Ferrari 488 GTB First Drive

After The Last Supper, Leonardo Da Vinci painted the Mona Lisa, after recording their first album, Iggy and the Stooges released the brilliant Fun House. Not every second creative attempt has to bomb like The Strokes' second, Room On Fire, and not every new car model has to be heavier and uglier like the Mustang II. Or at least that was the hope as I arrived in Italy for the launch of the 2016 Ferrari 488 GTB (Gran Turismo Berlinetta, if you're wondering). The new car traces its lineage back through 40 years of mid-engined V8 supercars, one that started with the 1975 308 GTB that replaced the V6 Dino series. But the 488 is also the follow-up to the 458 Italia, which is generally considered to be the zenith of all things Ferrari. With sublime handling and a yowling V8 that made you question how fast you could really travel on public roads, the Italia was an Italian missile wrapped in voluptuous aluminum. When the 488 GTB debuted at the Geneva Motor Show in March, the portents weren't good. As well as having fewer curves and a turbo engine, trouble was brewing inside the stronghold. Last fall, Fiat Chrysler Automobiles (FCA) chairmain Sergio Marchionne sacked Ferrari president Luca de Montezemolo. And Marchionne's plan to sell 10 percent of Ferrari on the stock market raises fears of hedge fund guys calling the shots at this archetypal Italian sports car maker. What's more, there's already talk of increasing annual production from the current cap of 7,000 units to 10,000. But back to the 488 GTB. The new car is based on the same aluminum underbody as the 458, but with less dramatic looks. The source of those looks is not the design department, however. "We gave them [the design department] the shape...they started with that shape." explained Matteo Biancalana, Ferrari's aerodynamics chief. So wind tunnel data penned the GTB's lines, mainly because of an ambitious target to achieve 50 percent more downforce than the outgoing model with no increase in aerodynamic drag. "We had to touch every millimetre of the car apart from the carried-over roof," says Biancalana. The front grille channels air through the radiators, cools the brakes and denies air access to the underbody, which consequently develops low pressure areas that suck the car to the road. There's a moveable spoiler under the body at the rear to reduce drag at high speed in a straight line.